In the News

Copyright 2022

Financial statements are a must-have for any organization. The balance sheet reveals how much its assets and liabilities are worth based on historic costs. The income statement tells investors and lenders how profitably and efficiently the company has performed during the accounting period.

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Construction project financing and cash flow management are unique for several reasons.

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Three bricklayers are working on a job site. The first describes his job as "laying brick," while the second says he's "building a wall." But the third explains he's "constructing a children's cancer research facility."

Copyright 2022

The tax law permits you to deduct home office expenses if you "regularly and exclusively" use an area of your home as either:

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The death of an employee who fell two stories to his death at a Massachusetts construction site might have been prevented if his employer had supplied the required fall protection, according to the Occupational Safety and Health Administration (OSHA).

Copyright 2022

Construction site theft is an expensive, growing concern. Costs rise as contractors lose building materials, tools and equipment and liability insurance premiums rise. Often those losses are passed on to customers.

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Accidents can happen. There's no way around it. But you can do your best to prevent them and take steps to minimize the damage when they do occur. Here are some ways to help keep your Workers' Compensation premiums down.
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Construction employers are fined millions of dollars each year for OSHA violations. The citations that result in fines are often overlooked by supervisors. Although employees usually receive generic information about OSHA standards in most workplaces, it's important to implement training procedures that make OSHA's rules clear.

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Job costs are the lifeblood of your construction business and accurately estimating them will determine if a project will make money. Managing job costs across the life of the project will ensure that your firm makes money on every job. Moreover, those job-by-job profits make the office and your executive salary possible.

Copyright 2022
Throughout the year, businesses like yours need to be able to provide verified financial results to others. This may be your tax preparer, a lender or investor, a potential purchaser of your business — should you decide to sell — or another interested party. Not to mention that you, as the company owner should know your books are being done with accuracy and completeness. For all of these reasons, you should consider having your accountant prepare certified financial statements for your business, rather than always relying on internally generated reports.

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