Contractor
Showing 257–272 of 390 results
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How to execute fast-track projects with flying colors
March / April 2013
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 536
Abstract: Compressed timelines and tight margins are no strangers to many construction markets. This article offers ways to not just survive a fast-track job, but execute it with flying colors. They include assembling the right team, choosing the right accounting and project management software, and negotiating the right contract.
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Goodbye expensing, hello depreciation – Final IRS “repair regs” to arrive this year
March / April 2013
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 855
Abstract: In 2011, the IRS released its long-awaited “repair regulations” for businesses that acquire, produce or improve tangible property. These rules cover everything from overhauling plumbing and electrical systems to fixing ventilation systems, cracked foundations and leaky roofs. The regs are expected to be finalized this year. In the meantime, the temporary rules are optional until 2014, though subject to minor revision. This article looks at the rules as they stand, particularly in regard to expensing vs. depreciation. A sidebar discusses safe harbors.
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Construction Success Story — Job order contracting fits one builder’s needs
January / February 2013
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 502
Abstract: This issue’s “Construction Success Story” looks at the case of a contractor whose projects had been taking a little longer to get off the ground because of haggling with the developer over costs. The contractor’s financial advisor suggested exploring job order contracting — a fast-track delivery method that enables owners to secure performance on a variety of projects quickly and cost-effectively through a multiyear contract.
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Got bonding? — The Surety Bond Guarantee program can help
January / February 2013
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 630
Abstract: For small construction companies, obtaining bonding can be a huge challenge. But the U.S. Small Business Administration (SBA) may have a solution. The SBA’s Surety Bond Guarantee program helps provide surety bonds of up to $2 million per project for qualified contractors. This article examines these qualifications and the application process, noting that the program may be a good option for construction businesses with limited working capital but a healthy amount of ambition to take on new projects.
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EVM puts project costs in perspective
January / February 2013
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 727
Abstract: When it comes to job costs, the one thing every contractor needs is perspective. With project data coming at them from all directions, obtaining the perspective needed to properly assess these situations isn’t easy. One way to process this information more efficiently and draw critical strategic conclusions is earned value management (EVM). This article explores EVM — a project management technique that measures job progress in dollars, giving contractors an objective assessment of both cost and schedule performance.
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IRS ruling may make it easier to deduct bonus accruals
January / February 2013
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 999
Abstract: Many contractors may distribute safety and performance bonuses for the previous year’s work after year end. Until recently, they could deduct these “bonus accruals” on their tax return for the “performance year” (rather than the “payment year”) only if by the end of the performance year they specified exactly how much each eligible employee would receive. Now, under IRS Revenue Ruling 2011-29, bonus accruals may be more easily deductible in the year accrued. This may be beneficial because it allows contractors to accelerate the deduction, deferring tax. This article discusses details of the ruling, including rules that must be met to claim the deduction. A sidebar looks at some exceptions to the Revenue Ruling.
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Construction Success Story — Local job prompts contractor to consider joint venture
November / December 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 484
Abstract: In this issue’s “Construction Success Story,” a contractor considers proposing a joint venture with another area construction business. His financial advisor notes that such an arrangement can allow smaller construction businesses to split risks, increase bonding capacity and learn about newer, more sophisticated technologies. But he also shows the contractor how to avoid potential pitfalls.
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Are your contracts choking your cash flow?
November / December 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 705
Abstract: Construction contracts — or, rather, the language therein — can start choking cash flow before work even begins. This article looks at some points to consider before signing on the next dotted line. It discusses negotiating a front-loaded billing schedule, achieving flexibility in retainage, clarifying the change order process, and matching cash outlays with receipts from the owner or general contractor.
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5 questions contractors should ask before buying new technology
November / December 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 509
Abstract: Contractors are constantly bombarded with offers of new and better technology. But it’s often hard for them to tell whether they really need the latest and greatest tech tool or are just trying to keep up with the Joneses. This article offers five questions that contractors need to ask before investing in anything — such as “What can this solution do for us?” and “Do we have the resources (and patience) to implement this technology effectively?”
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Strength in numbers — Why audited financial statements matter
November / December 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 974
Abstract: Sound, trustworthy financial statements are key to any construction company’s success. That’s why every contractor should at least consider investing in audited financial statements. Many lenders and sureties require contractors to provide such statements before they’ll approve loans or bonding. Some local and state governments also provide increased work and project award capacity to construction companies with audited statements. This article discusses the contractor’s responsibilities during the audit process, while a sidebar explores the less thorough, but less expensive, options of a compilation or review.
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Construction Success Story — Contractor considers sending payroll packing
September / October 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 504
Abstract: This issue’s “Construction Success Story” involves a general contractor who felt he was spending too much time handling payroll matters. When a colleague mentioned her positive experience outsourcing this function to a third-party payroll service, the contractor investigated further. His financial advisor felt that this solution can be appropriate for construction companies, given their especially complex payroll requirements. But the advisor cautioned that it’s important to find the right vendor, and listed some of the considerations to address.
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Track costs, cut spending with fleet management software
September / October 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 495
Abstract: Regardless of how many vehicles are in a fleet, fuel costs and productivity levels can be tricky to manage. That’s why many contractors are turning to fleet management software. This technology allows them to gather a variety of vehicle-related data, enabling them to track costs and cut spending in this often expensive area of a construction business. This article examines how fleet management software collects data and how it can be used to fight fraud and improve job costing.
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Is the manufacturers’ deduction a worthy construction project?
September / October 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 766
Abstract: Like completing a construction project, claiming the manufacturers’ deduction calls for a solid foundation (of documentation) and an intricate infrastructure (of calculations). But the effort may be well worth it. This article explains that the deduction isn’t just for manufacturers — it also applies to domestic production gross receipts (DPGR) derived from constructing or erecting buildings or other real property, as well as from substantial renovations of real property. But claiming the deduction is complicated, so the article goes on to discuss considerations that must be addressed — ideally, by a tax advisor.
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The IRS is watching — How contractors can cope with employee misclassification
September / October 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 991
Abstract: Contractors who misclassify a bona fide employee as an independent contractor could suffer a number of costly fates. However, if they do inadvertently fall afoul of the rules, there is now a way to potentially mitigate the damage. This article lists the three primary categories of criteria the IRS looks at when determining whether a worker is properly classified, and how contractors who accidentally violate the rules can seek to lessen penalties through the IRS’s Voluntary Classification Settlement Program. A sidebar offers four ways to avoid misclassifying workers.
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Construction Success Story — Veteran contractor vets his suppliers
July / August 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 484
Abstract: This issue’s “Construction Success Story” looks at the case of a contractor who went to his financial advisor for advice on how to vet prospective new vendors. The advisor described three basic traits of a good supplier, and went on to show the contractor how to set up a selection process.
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Build your bonding capacity with a solid foundation
July / August 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 742
Abstract: A high bonding capacity is something for which just about every contractor strives. Getting the necessary underwriting from a surety gives a construction company the freedom to bid on jobs well suited to its strengths — not to mention bigger projects with greater potential for profitability. This article lists the elements sureties are looking for, such as strong financial statements, profitability and working capital. Timely, accurate work-in-progress (WIP) reports are also essential, as is ongoing communication with the surety.