Should You Invest In Custom Software?

Contractors are regularly urged to buy the latest and greatest high-tech solutions, but no software tool is perfect. Off-the-shelf products don’t always provide the specific functionality needed or “play well” with other systems, forcing employees to engage in redundant and potentially error-ridden practices. All this hassle might lead some contractors to consider engaging an outside […]

Strategize To Manage Materials And Labor Costs

The COVID-19 pandemic’s ongoing impact on supply chains and labor have made managing project costs increasingly difficult for construction companies. Over the past two years, we’ve seen materials costs skyrocket and the availability of supplies and skilled labor plummet. In today’s climate, getting supplies and people to jobsites when they’re needed calls for more planning. […]

On-Site Spring Construction Newsletter

Here’s a brief glance at what you’ll find in the Spring issue… Infrastructure projects: A review of bidding methods for federal contracts With the signing of the Infrastructure Investment and Jobs Act in late 2021, things are looking up for federal construction projects. For construction companies considering getting in on the action, the journey will […]

On-Site Fall Construction Newsletter

Here’s a brief glance at what you’ll find in the Fall issue below… Year-end tax planning Work Opportunity Tax Credit could solve two problems For contractors, the struggle to find skilled workers is real. One way construction companies can widen their hiring pools while potentially qualifying for a valuable tax break is to complete the […]

Receivables May Be A Source Of Cash In Tough Times

Many companies are continuing to struggle financially during the COVID-19 pandemic. If cash is tight, what can your business do to shorten its cash cycle? The answer could lie in your outstanding accounts receivable. Here are five strategies to help convert receivables into cash ASAP. 1. Apply for a line of credit. A line of […]

How Nonprofits Should Classify Their Workers For Tax Purposes

Employees or independent contractors? It’s not only for-profit companies that struggle with the question of how to classify workers for federal tax purposes. Not-for-profit organizations must withhold and pay Social Security, Medicare and unemployment taxes for employees, but not for contractors. (There may also be state tax responsibilities.) But be careful before you decide that […]

Accounting For Cloud Computing Arrangements

The costs to set up cloud computing services can be significant, and many companies would prefer not to immediately expense these setup costs. Updated guidance on accounting for cloud computing costs aims to reduce differences in the accounting treatment for these arrangements. In a nutshell, the changes will spread more of the costs of implementing […]

How to Use Visual Aids in Financial Reporting

Thanks to the Internet and social media, we’re bombarded daily with all kinds of information. As a result, most people prefer clear, concise snippets of data over lengthy text. Have your financial statements kept up with today’s data-consumption trends? Show and tell Humans are visual learners. In business, the use of so-called “infographics” started with […]

Still Struggling With How To Account For Contributions?

After the Financial Accounting Standards Board’s (FASB’s) 2014 release of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, many nonprofits were confused about whether grants and similar contracts were covered by these new revenue recognition rules. The FASB’s subsequent issuance of ASU No. 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and […]