Construction Articles

More than 32 million U.S. businesses are required to file beneficial ownership information (BOI) reports this year, but the clock is ticking.

Construction businesses that work on clean energy projects may have some great opportunities ahead. Here’s a look at the substantial tax incentives involved.

Need another reason to maintain accurate and detailed financial statements? You’ll appreciate having them when it comes time to determine the value of your business.

Employers are left waiting after a court struck down – at least temporarily – a law that would ban most noncompete agreements.

The IRS has brought back a program that allows businesses to repay wrongfully gained employee retention credit money and avoid penalties.

Running out of products? Or maybe stocking too many? QuickBooks Online can be a valuable tool to help solve both problems.

For most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a buy-sell agreement protects co-owners and their heirs and helps avoid hassles with the IRS.

There are many tax implications to consider in the sale of business property, and they can be complex.

Even if your business is established and on solid ground, don’t overlook the potential value of a detailed business plan.

As more companies report goodwill impairment issues and write-offs, it’s important for business owners to know the rules.

The fate of TCJA provisions could be decided by the November elections. But planning now might soften the blow of a worst-case scenario.

A FASB advisory group will focus on four big regulatory issues faced by private businesses this year and determine whether changes are needed.

In the construction industry, these two common accounting problems tend to give contractors the biggest headaches.

Outsourcing payroll, also known as managed payroll, can decrease risk, increase accuracy, protect sensitive data and improve business continuity.

The deadline to comply with a new U.S. Department of Labor rule regarding worker classification is March 11.

Many employers who sought the employee retention credit aren’t even aware that they’re at risk of penalties and steep fines for making fraudulent claims. The IRS says these signs might help.

Construction businesses are familiar with the challenges and opportunities associated with change orders. Here are some ways to tighten up your change order management process.

Extensive reporting requirements stemming from the Corporate Transparency Act will affect many business owners starting January 1.

Estimating is among the most important areas of proficiency for any construction business. Here are 10 ways to potentially improve your company’s estimates.

Identifying related parties is just one of many parts that go into preparing financial statements. Here’s why they matter, why auditors give them scrutiny, and how to avoid the risks that often accompany them.

Scammers are hyping quick, easy money from the employee retention tax credit, but despite what you might hear in the slick advertisements, the IRS has a warning for employers.

For construction businesses, the cost of insurance can be high, but the cost of going without it can be so much worse. Let’s review a few important types of coverage.

Higher costs for labor and materials are still putting a chill on profitability for many construction companies. These eight steps might seem simple, but overlooking just one could cost you money.

Fraud is an ever-present threat for construction businesses, both in the office and on jobsites. That’s why contractors must leave no stone unturned when trying to prevent it.

The cost of goods sold can account for 70% of a company’s expenses, according to recent discussions by the FASB’s Investor Advisory Committee. However, some companies skimp on details around the costs they incur to produce goods. The FASB’s disaggregation of income statement project could change that.

Every business can be an innovator. The research tax credit is a way to reward that innovation, and it comes with an intriguing feature related to payroll taxes.

Depending on the nature of your company’s operations, your balance sheet may include inventory totals. Here’s why your inventory system might be flawed and giving you the wrong numbers.

Misunderstanding the complex rules of tracking employee hours can lead to errors, confusion, and wasted hours. Here are a few ways to hold the line for your next construction project.

Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.

Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.

Diversity, equity, and inclusion are buzzwords in modern strategic management. Here are some of the benefits that initiatives in these areas bring to public and private companies and how companies can showcase their progress in footnote disclosures and separate diversity, equity, and inclusion reports.

During the COVID-19 pandemic, many audit procedures have been performed remotely, forcing auditors to rely more heavily on analytical procedures. It’s important to understand how auditors use analytical procedures to make audits more efficient and effective.

Have you taken a few minutes to really explore QuickBooks’ report center? It’s the best way to learn about the variety of reports available from one of QuickBooks’ most powerful components.

Tennessee offers a variety of tax-saving credits. Do you know what’s available and how they could help your business?

Cybercrime isn’t just an issue for big corporations. Your small business can be a target, too. Are you protecting your QuickBooks data?

The value of an internal audit is different for everyone and can change based on circumstances, but a solid framework can provide the conditions necessary to deliver value to you.