Tag: Construction

Just like the saying goes, "You gotta be in it to win it," many construction firm owners submit numerous bids for local jobs just to be "in it". But to thrive and survive, you need Read More

In an uncertain economy, accurate and actionable job cost accounting is more important than ever. If you haven't already, consider using activity-based costing (ABC) to obtain more precise and useful information. Done right, ABC helps Read More

Most long-time construction business owners reach a point when they start thinking about not only their own retirements, but also their families' financial security. Whether you're at that point or closing in fast, here are Read More

Successful companies of all stripes use key performance indicators (KPIs) to monitor their financial health and spot red flags. Well, you know what? Construction businesses can do it, too. And you should. Let's review some Read More

When the busy season comes, the last thing on your mind is accounting for your projects. You and your employees are concerned with only one thing: keeping up in delivering quality projects on time. Bookkeeping Read More

Among the most common challenges of any long-term construction project are fluctuating job costs. However, variations in the cost of materials and labor over time aren't the only cause for concern. Permitting issues, economic changes Read More

Contractors often struggle to find suitable buyers for their companies when they're ready to retire or otherwise move on. That may be why many construction businesses implement employee stock ownership plans (ESOPs). These plans offer Read More

Many construction businesses reach a point in their growth when they decide to maintain inventories. They might keep on hand items such as building materials, supplies, personal protective equipment and tools. Maybe yours already does. Read More

Businesses structured as partnerships, S corporations or limited liability companies generally aren't subject to the federal corporate income tax. This is because tax liability "passes through" such entities to each business partner's individual level. If Read More

Internal Revenue Code Section 179 potentially allows significant first-year depreciation deductions when your business places qualifying assets into service. You generally want to maximize current year depreciation write-offs for newly acquired business assets. However, the Read More