Tag: Construction

Creating a comprehensive and actionable succession plan is rarely easy for business owners. It's certainly a challenge for most contractors, who may find it difficult to step away from the day-to-day hustle and bustle of Read More

The Tax Cuts and Jobs Act (TCJA) was signed into law in 2017 and generally took effect at the start of 2018. It brought sweeping changes to various aspects of tax law for both individuals Read More

For construction companies, accounting isn't as simple as just balancing the books every month. Contractors tend to have multiple projects underway at various stages of completion and, ideally, more in the pipeline. Your accounting practices Read More

For construction businesses, financial management is notoriously complex. Contractors have to deal with the ebbs and flows of their respective markets, project-based pricing and collections, rising operating costs, and various other factors — not the Read More

For construction businesses, workers' compensation insurance is a must-have. Unfortunately, because of factors such as inflation and labor shortages, the cost per claim has generally increased industrywide in recent years. It may seem like there's Read More

In the complex and sometimes chaotic world of long-term construction projects, many contractors find themselves struggling to accurately align the revenue coming in with the expenses being paid out. This is where the percentage of Read More

As you know, change orders are an inherent part of the construction industry. Alterations to the original design, specifications, execution methods or scope of a job can impact the budget and timeline. And when not Read More

At some time or another, construction company owners must hang up their hard hats. But what will happen to your business when you retire or move on to the next professional opportunity? And what if Read More

The construction industry is renowned for its quality craftsmanship. However, it's also sometimes known for a historical reluctance to adopt new technology. When it comes to your construction company's accounting and financial management, there's never Read More

In a perfect world, initial project estimates would match actual costs at the end of every job — with no hint of cost overruns or profit fade. But, let's be honest, that hardly ever happens. Read More