Nov 18, 2014

Are You Missing Out On Tax Incentives?

The IRS is taking a more aggressive stance in its efforts to define the difference between what it considers to be business losses versus your hobby losses. If you engage in any type of “for-profit” activity, here are a few things you need to know. Where’s The Profit Motive? Before you go any further, take … Continued
Jun 4, 2014

Constructing A Better Balance Sheet

There are many reasons to have a strong balance sheet as a small contractor. Not only is your business one of the largest and most important assets you own, but many third parties such as lenders, sureties, insurance companies and customers may rely on your financial position to make decisions that will ultimately affect your … Continued
Mar 12, 2014

Ensuring Accuracy and Preventing Fraud In Your Small Business

Internal controls are processes and procedures designed to ensure that accounting data is properly authorized, recorded and reviewed to ensure its accuracy. These also include controls to ensure that physical assets are properly safeguarded to prevent misappropriation. If you’re a small business owner, you may find that you often face limited accounting staff and are … Continued
Jun 5, 2013

Growing Pains: How Growth Can Affect Your Financial Accounting

The recent recession and the current recovery have presented businesses with many unique challenges and new opportunities. As a business owner, you may be finding ways to grow in the new economy. Some common strategies and transactions include: Acquiring assets that other companies have abandoned Forming joint ventures to create synergy Buying an existing company … Continued
Apr 11, 2013

The Contract Schedule

All too often, contractors see contract schedules as a necessary evil. They’re the things that accountants make you prepare and put in the back of your financial statements.
Apr 10, 2013

Estimating Is Different than Guessing

A construction company’s ability to properly estimate and manage job cost and profitability is a determining factor to its success. Estimate too high and you won’t be doing much work. Estimate too low, on the other hand, and risk leaving money on the table, as well as potentially entering into contracts that could simply be … Continued
Jun 20, 2012

Plan Early to Make the Most of 2012

Here we are, barely two months since you filed your 2011 taxes. Your 2012 taxes are the furthest thing from your mind. So why should you care about April 15, 2013? It’s never too early to start planning your taxes and personal financial situation for the upcoming year. Starting early will give you more time … Continued
Jun 5, 2012

Your Accounting Department

Do you put your accounting department on a pedestal? If you answered no, there may be things both you and your accounting staff could be doing to create financial information that helps you better guide your construction business. How Your Accounting Function Fits into Your Business To understand how accounting can provide more value for … Continued
Nov 1, 2010

A Study of the Construction Industry Ecosystem

If you think back to your high school science class, you may remember learning about ecosystems. The premise is that all of the wildlife, plants and resources within the ecosystem are interdependent upon each other for survival and evolution. Today’s political and economic climate has created challenges to the construction contractor’s ability to survive and … Continued
Jun 1, 2010

Checking the Pulse of Your Business

Heavy highway construction companies need to check their vital signs regularly. Just as doctors work holistically to keep our bodies healthy, a holistic examination of your business, its operations and processes just might help your heavy highway contracting business move from barely breathing to thriving. A multi-disciplinary review of your business’ vital signs – from … Continued