The challenge of quantifying lost productivity damages

Stick around the construction business long enough and it will happen to you. Maybe it already has. We’re referring to the unfortunate circumstance of, through no fault of your own, a project getting severely disrupted. In such cases, you might eventually need to file a claim in court against the owner for lost productivity damages. […]

Beyond theft: The human side of jobsite security

When the topic of security on a construction site comes up, the discussion usually revolves around one word: theft. How do we keep people from stealing stuff? But there’s another aspect of jobsite security that tends to get relatively little attention: the human side. All too often, construction company owners don’t recognize these risks until […]

Bidding made better with go/no-go analysis

To bid or not to bid? For contractors, this is always the question. When times are tough, you may be tempted to bid on anything and everything. During a more stable economic climate, however, you can and perhaps should be as selective as possible. How to make this critical decision is the question beneath the […]

Improve your bottom line with accurate contract schedules

Tracking the financial minutiae of your contract schedule requires great attention to detail. But do you know what else requires great attention to detail? Construction projects! In the hustle and bustle to win, work on and complete jobs, it’s understandably easy to make accounting mistakes with your contract schedule or to simply lose perspective on […]

Numbers matter: The finer points of your succession plan

When it comes to succession plans, construction company owners often focus on when they intend to leave the business or who will replace them. But, remember, numbers play an important role as well — particularly if you intend to sell the business to help finance your retirement. Obtain an appraisal A business valuation is a […]

What can a valuation expert do for your succession plan?

Most business owners spend a lifetime building their business. And when it comes to succession, they face the difficult decision of whether to sell, dissolve or transfer the business to family members (or a non-family successor). Many complicated issues are involved, including how to divvy up business interests, allocate value and tackle complex tax issues. […]

Three cash flow boosters for your company

Like every contractor, you want to have a good 2017. And this objective should be eminently doable as long as you stay within your strengths, manage your financials carefully and do good work. But why settle for a good year when it could be great? The key, always, is cash flow. The more working dollars […]

IRS issues warning on email scam targeting payroll and HR departments

Wheeler Wolfenden and Dwares, CPAs received an important notice from the Internal Revenue Service warning about an email scam that is once again happening across the country. The IRS notice, dated January 25, 2017, states: The Internal Revenue Service, state tax agencies and the tax industry today renewed their warning about an email scam that […]

Is pollution liability insurance worth the cost?

I’ve been reading some scary stories lately. The tales all begin with an innocent construction company going along its merry way and end with a knock on the door from an attorney suing the business for jobsite-related pollution. But is pollution insurance really worth the cost or should I spend those dollars elsewhere? As you […]