As projects heat up, construction company owners often find they must buy additional equipment or other assets to ensure project success and remain competitive. Because return on investment for high-dollar purchases can take years, finding the right tax deductions to help offset costs is critical to staying in the black. The good news is that, […]
WW&D establishes scholarship for local accounting students
Wheeler Wolfenden and Dwares, CPAs (WW&D) announces the creation of the Wheeler Wolfenden and Dwares, CPAs Accounting Scholarship in the Lerner College of Business and Economics at the University of Delaware. This endowed scholarship will provide an annual award of $2,000 in perpetuity, beginning in the 2018-2019 academic year. The University will award the scholarship, […]
Upcoming changes for not-for-profit organization financial statements
Some changes in your year-end financial statements will be required that are designed to more clearly indicate your organization’s financial position as a result of a recent Financial Accounting Standards Board Accounting Standards Update (FASB ASU). The changes prescribed in Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities (ASU 2016-14) will affect […]
New revenue recognition rules to “go live” soon
A new website or updated software “goes live” when it’s launched for widespread use. This, too, will soon be the case with an important accounting change for construction businesses that follow Generally Accepted Accounting Principles (GAAP). For privately held companies, Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, is due to go live […]
Accounting matters: Keep the heart of your nonprofit beating
Your accounting department is the heart of your nonprofit. Although departments such as programming or fundraising may seem to have more obvious relationships with your nonprofit’s mission, your accounting function ensures that the whole organization runs well — and remains healthy over the long term. Indeed, accounting inefficiencies and chronic processing delays can make everyone’s job […]
Think about licenses before working out of state
Construction markets can turn on a dime. One new manufacturing plant or infrastructure project can transform a sluggish region into a booming economy. Problem is, these hot markets often ignite across state lines. In such cases, you may rush to commit valuable time and resources to preparing a bid. Among the many small details that […]
Making sure your board reflects your constituency
When nonprofits first form, they usually welcome as board members anyone who has the time and interest. But as organizations grow in size, revenue and complexity, the makeup of their boards generally must change. For example, they may want members with legal or financial expertise or to include major donors and business leaders. One critical […]
Using your financial statements to recalibrate your estimates
Offering a fair price for quality workmanship lies at the heart of every contractor’s long-term success. Finding this critical balance begins with the estimating process. Over time, however, even the most sound approach to estimating can slip a little bit and require recalibration. The good news is that the tools for the job lie right […]
Using planned gifts to help secure your nonprofit’s future
Planned (also known as deferred) gifts come as close to a sure thing as your nonprofit will ever likely encounter. They’re often more substantial than other types of donations and, because they specify an amount and date (or event, such as the death of the donor), they can help you secure your organization’s future with […]
WW&D welcomes two new staff
Wheeler Wolfenden and Dwares, CPAs is pleased to welcome Leslie R. Dorsey, CPA and Manuel Rodriguez to its professional staff. Leslie R. Dorsey, CPA has joined WW&D’s tax practice as a manager. Leslie has more than 13 years of corporate tax experience in the agriculture, business services, chemical manufacturing and retail sectors. She earned a […]