Thanksgiving through the end of the year is traditionally the big fundraising season for nonprofits. In one GuideStar survey, U.S. charities received as much as 50% of their annual donations between October and December. And although the holiday spirit moves many donors to give, it’s the charitable tax deduction that typically spurs them to make […]
WW&D Welcomes Three New Professional Staff
Wheeler Wolfenden and Dwares, CPAs is pleased to welcome Melissa Navarro, CPA, Erica Poore, and Jessica Heger to its audit and tax practices. Melissa Navarro, CPA has joined the firm as a manager. Navarro has 14 years of experience in public accounting. In addition, she held an executive-level finance role for eight years with a […]
Tips on managing and reducing payroll costs
Every construction company must pay its employees, so some payroll costs are unavoidable. But precisely how you should go about paying your employees can change over time. What made sense a few years ago may not be as logical or efficient now. Let’s look at some ways contractors can streamline payroll tasks to keep costs […]
New revenue guidance provides direction to nonprofits
In 2014, the Financial Accounting Standards Board (FASB) issued a new standard on revenue recognition (ASU 2014-09). The ASU was intended to clarify and standardize across various sectors revenue reporting. But many nonprofits found the new standard confusing because it didn’t account for the unique nature of revenue sources such as contributions and grants. Now, […]
Which accounting system upgrades should I look for?
Construction accounting is unique and complex. Each of your projects serves as an individual profit center with its own revenue, expenses and payroll. This means contractors shouldn’t use an off-the-shelf system. When looking to upgrade, focus on industry-specific features such as: Job-cost tracking. Contractors need to track expenses according to projects, cost codes, classes, and […]
WW&D ranked as a 2018 Best of the Best CPA Firm by INSIDE Public Accounting
Wheeler Wolfenden and Dwares, CPAs (WW&D) has been named to the INSIDE Public Accounting (IPA) 2018 Best of the Best CPA Firms list. This prestigious recognition ranks WW&D in the top 10% of the 550 firms that participated in this year’s IPA Survey and Analysis of Firms. WW&D was honored for its performance on more than […]
Employee retention: Keep them if you’ve got them
In April, the U.S. unemployment rate fell to 3.9%, its lowest point since December 2000. That’s great for the economy — but not so great for organizations struggling to remain fully staffed. Unfortunately, many nonprofits are in this position. They can’t afford to pay employees as much as their for-profit counterparts and, thus, have a […]
Project management solutions may lie in the cloud
A good project manager knows communication is key to delivering a job on time and within budget. When team members can’t easily obtain project data, the result is often wasted time as they track down that information or, worse, duplicate efforts. Meanwhile, profit-eating costs mount and schedule overruns can occur. Many top-level construction companies are […]
Educating donors about what they can — and can’t — deduct
Education may not officially be part of your nonprofit’s mission. But while working with donors, you’ve probably noticed that many are confused about the federal tax deductibility of their contributions. To help prevent unwelcome surprises when donors file their returns, inform them about the tax benefits of different types of donations. Cash, ordinary income and […]
Take a keen interest in your company’s insurance protection
Not many people wake up in the morning wanting to talk about insurance. But it’s important for contractors to take a keen and ongoing interest in their company’s coverage. It needs to meet not only the bid requirements of every project you take on, but also the wider needs of your construction business as it […]