Contractor

Guest Article: Workers’ Compensation Premium Reduction

With rising costs due to inflation, escalating salaries, and increased cost of debt, everyone is searching for ways to reduce costs. One area that companies can look at is reducing Workers’ Compensation insurance premiums. One component of Worker’s Compensation...

9 Strategies to Retain Top Talent in the Construction Industry

Approximately 7.8 million people are employed by the construction industry, as of January 2023 — that’s about 2.9% of the U.S. workforce. Despite being a significant contributor to employment, the construction industry faces a unique challenge with an average annual...

Navigating the 2024 Construction Outlook

With about a quarter of 2024 behind us, there are mixed economic indicators facing the construction industry. Inflation is coming under control, interest rates have remained high, supply chains have eased a bit, and unemployment is on the rise, even in the...

Green Building: Advancing Sustainability in Construction

As the world continues to grapple with environmental challenges, the construction industry has taken center stage in addressing these issues. The concept of Green Building has gained significant momentum in recent years, and for good reason. Not only does it promote...

Current Expected Credit Loss (CECL) – Construction

Is anyone else tired of the accounting regulations constantly changing? In the past few years, construction companies have had to deal with an overhaul of revenue recognition rules, “clarifying” (confusing) defined benefit plan pronouncements, enhanced disclosure...

Are AI and Other Technologies the Key to Filling The Labor Gap in Construction?

Every year, as summer comes to an end, there are a few things that I look forward to, the changing color of the leaves, the return of football season, and the start of a new network television season. This year SAG-AFTRA and the WGA unions are on strike with no end in...

Combating Payroll Tax Evasion and Workers’ Compensation Fraud in the Construction Industry

In recent times, the Financial Crimes Enforcement Network (FinCEN) has sounded the alarm about an alarming rise in payroll tax evasion and workers' compensation fraud within the residential and commercial real estate construction sectors in the United States. This...

Guest Article: NY Solar Energy Credits

Escalating utility costs, generous incentives and an increased need for more sustainable energy sources have created a robust renewable energy industry in New York. While the best renewable energy plan for your business should be tailored to meet your individual needs...

Employee Retention Tax Credit – Time is Running Out

One of the first relief plans issued by the federal government as part of the CARES Act was the employee retention tax credit or ERTC. Since it was initially released during 2020, there have been many changes to the credit that have made it a bit more accessible for...

2023 Construction Trends

The climate we find ourselves in for 2023 should not be a surprise to anyone, given the year we had in 2022. As much as COVID was the disruptive factor impacting everyone in 2020 and 2021, the significant level of funding pushed out by the federal government kept the...
2023 Construction Trends

2023 Construction Trends

The climate we find ourselves in for 2023 should not be a surprise to anyone, given the year we had in 2022. As much as COVID was the disruptive factor impacting everyone in 2020 and 2021, the significant level of funding pushed out by the federal government kept the...

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Contractors Biggest Concerns For 2023

Contractors Biggest Concerns For 2023

Over the years, I have prided myself on providing value added service to my clients. The construction industry has changed so much since I started working with contractors more than 30 years ago, and it seems like things are only gone to change at a faster rate over...

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Energy Tax Credits

Energy Tax Credits

Many contractors are always looking for different ways to expand and grow. Energy efficiency incentives have been on the rise for years and many developers are looking to include these in upcoming projects both as responsible corporate citizens and to unlock these...

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Guest Article: Building Your Bridge to Monetization™

Guest Article: Building Your Bridge to Monetization™

Remember when you first started your business? Young, maybe a little naïve, willing to take the necessary risks, not knowing if success or failure was in your future. Fast-forward to today; you have built a successful company that has provided your family and others a...

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Lease Accounting – Contractors

Lease Accounting – Contractors

BACKGROUND For many businesses, their largest non-labor cost is facilities. There has always been some disparity in the comparability of financial statements between companies, as some own their facilities while others rent. Several years ago, the Financial Accounting...

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Guest Article: Contract Surety Bonds

Guest Article: Contract Surety Bonds

Bonds are required for construction projects when a government entity/municipality requires repair/restoration work or new construction to be performed on a property it has authority over. The government agency is referred to as the owner and in the case of surety...

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