Although complexity and accounting standards go hand in hand, Edward W. Trott, a former member of the Financial Accounting Standards Board, says that for the most part, “complexity in accounting standards is unnecessary.” (Trott was a member of the FASB
1. Scenario: A competitive solicitation is released as a small-business set-aside, specifically as a Woman-Owned Small Business (WOSB). The Government does not receive any proposals. Question: Will the solicitation be released as full and open? Answer: Yes, if the Government
The beginning of the fourth quarter is a useful time for businesses to review their current tax situation and consider what they are doing, or could be doing, to reduce their tax liability for the year. Even with so much
Most owners focus on operational activities, not seeing how decisions like financing purchases and selling assets make a difference. Projecting future cash flow isn’t easy, but it’s even more complicated in construction because no project is the same and change
Accounting complexity remains a major issue for construction and AEC firms in 2026. While some complexity is unavoidable when transactions are unusual or estimates are uncertain, much of the burden comes from standards that are harder to apply than necessary.
As the summer season fades, many business owners naturally move from a lighter, more flexible pace into the demands of Q4. This is the ideal time to conduct a financial health checkup. Just as a physical checkup helps detect issues
Classifying employees as exempt or nonexempt is not merely a formality; it affects workers’ rights and employer obligations. Misclassifying employees can expose you to back wages, penalties and enforcement actions. Understanding the applicable employee classification rules is essential. Under the
In Announcement 2026-11, the IRS has announced that starting July 1, 2026, the revised standard mileage rates are: (1) Business: 76 cents per mile (up from 72.5 cents per mile) (2) Medical and moving 23.5 cents per mile (up from
Technology continues to reshape how small businesses operate in 2026. From cloud software to mobile apps, business owners have more tools than ever to improve productivity, manage work, and serve clients. But more tools do not always mean better results.
According to recent industry data, nearly half of all small businesses fall victim to cyberattacks every year. This means that an event occurs every seven seconds, costing businesses on average more than $250,000. Six months after an attack, 60% of