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Showing 337–352 of 398 results
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Construction Success Story – Contractor rolls out new technology the right way
January / February 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 428
Abstract: In the midst of a flush of stimulus-related public projects, a small subcontractor was finding his old accounting system too slow and cumbersome. So, with little time to spare, he headed to the software market and chose a new system. Upon introducing the technology to his managers, however, the contractor found that everyone had a gripe. Frustrated, the contractor mentioned the dilemma to his financial advisor, who suggested he return the product and begin again with a collaborative, team-based approach to choosing new software.
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Discover the secret to your success with bid-hit ratios
January / February 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 421
Abstract: Some contractors equate success with the number of bids they win or perhaps simply with the number of jobs on which they’re bidding at any given time. But a more accurate and useful gauge lies in their bid-hit ratio — the rate at which they successfully bid on projects. A low bid-hit ratio can help contractors identify project types where they consistently fall short, and decide whether to allocate more resources to them or to bid more on other project types. But even the best bid ratio doesn’t guarantee profitability, so it’s important to track that measure as well.
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Care to trade? Trying your hand at a Sec. 1031 exchange
January / February 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 684
Abstract: A “Section 1031 exchange,” or “like-kind exchange,” refers to the swapping of two properties, potentially resulting in a significant tax advantage — deferring gain until the replacement property is sold. But, under Sec. 1031 of the Internal Revenue Code (IRC), one may swap more than just real estate. This article looks at the basic rules of such an exchange and the timeframes involved, but also shows how non-like-kind property can be included.
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Preparing for battle – Strategic risk management for contractors
January / February 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 922
Abstract: The construction business is replete with risks. Bumps in the supply chain can stall deliveries, weather can wreak havoc on project schedules and owners can go bankrupt. These realities, compounded by recent natural disasters, heavier pressure to finish projects faster and more efficiently, and a steep rise in global competition, have prompted contractors to turn to strategic risk management (SRM). Having an SRM plan can reduce the chances of unexpected risks destabilizing a business, and allow owners to gain a better perspective on what risks could actually be beneficial to their construction business. This article discusses how to set up an SRM plan, while a sidebar discusses the importance of insurance as one component.
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Construction Success Story – Contractor improves customer service without a big payout
November / December 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 420
Abstract: Faced with slowing business, a commercial general contractor decided to forgo the equipment and software upgrades he’d planned for. Yet he still felt helpless watching his backlog dwindle with few new prospects on the horizon. Reaching his wit’s end, he met with his financial advisor, seeking suggestions for ways to retain his current clients and gain an edge over his competition — all while saving money. The advisor offered a simple solution: a renewed focus on customer service. It’s inexpensive and one of the most effective ways to strengthen business in the short and long term.
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General contractor focus – Beware of the independent contractor vs. employee dilemma
November / December 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: The independent contractor vs. employee dilemma is a natural problem for general contractors, who deal with subcontractors and other specialists regularly. This article looks at a couple of examples where the line between independent contractor and employee isn’t clear, and explains the perspective that the IRS uses when determining employee classification.
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3 tax-related scams and mistakes to avoid
November / December 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 412
Abstract: Earlier this year, the IRS issued its annual list of common tax scams, covering everything from identity theft traps to serious mistakes taxpayers can make that the IRS may deem to be frivolous tax claims. Three, in particular, involve phishing scams, misuse of trusts, and fraudulent fuel tax credit claims.
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Presto, chango! – Turning prevailing wages into employee benefits
November / December 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: As contractors vie for new public works projects, the prevailing wage — the minimum wage contractors generally are required to pay employees working on projects initiated by public agencies — is getting more attention. For each job, the prevailing wage is divided into a minimum basic hourly rate and a fringe benefit amount. Although contractors are required to pay their employees the base rate in cash, the fringe benefit portion can be paid in cash or in the form of a “bona fide” benefit plan. To avoid the complexities, it may be a little easier for a business to pay the entire prevailing wage in cash, but it’s much more expensive. This article shows why, while a sidebar discusses the documentation needed in the event of a Department of Labor audit of a prevailing wage plan.
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Construction Success Story – Contractor goes paperless with IWA system
September / October 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 437
Abstract: This month’s Construction Success Story tells of one contractor who had been pondering the idea of going paperless but hadn’t found the right tool to help her do so. When she asked her CPA for ideas, he mentioned imaging and workflow automation (IWA) systems. He explained that many business owners, including contractors, have been using IWA systems to streamline their invoice and accounts payable processes.
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On-the-job training provides lasting returns
September / October 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 477
Abstract: A contractor will benefit clients, employees and itself by providing on-the-job training at every level. Sure, it takes time and money, but not as much as one might think — and the results can mean a more efficient company and bigger profits. Knowledgeable employees work faster and better; in the end, they’ll make the company more money. Plus, an employee who feels valued is more likely to stick around, helping to decrease turnover. But many managers get promoted to leadership positions because they are hard workers and great at their jobs, not because they’re natural or skilled leaders. So it’s important to ease the transition and the learning curve by creating opportunities for new managers to learn from experienced leaders within the company.
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The inside scoop on the manufacturers’ deduction
September / October 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 492
Abstract: Many contractors have been taking advantage of a useful break with a somewhat misleading name: the manufacturers’ deduction, which provides a tax break for many businesses besides manufacturers — including contractors. Certain kinds of construction activities qualify for the deduction, which will be increasing in 2010.
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Employee benefits – Self-funded health insurance may be a healthy option
September / October 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 1009
Abstract: Because of rapidly rising health insurance premiums and shrinking budgets, some contractors are choosing to forgo offering health care benefits to their employees as a way to save money in a down economy. But a number of alternatives can reduce their financial burden while still giving their employees access to the health care services they need. One such route is the self-funded health insurance plan. This article discusses how it differs from commercial insurance, the risks and rewards, and the obligations involved. A sidebar discusses what to look for when choosing a third-party administrator for a plan.
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Construction Success Story – Contractor learns the ins of out-of-state projects
July / August 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 364
Abstract: A contractor who had established a successful commercial electrical systems installation and repair business in his home state was considering bidding on jobs in neighboring states. At face value, it seemed like a great way to increase revenue and ultimately expand his business. Before venturing too far afield, however, the contractor ran the idea by his financial advisor, who explained that each state has its own laws and requirements for taxes, workers’ compensation, licenses, insurance and bonding.
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Employment update – E-Verify system now required for federal projects
July / August 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 673
Abstract: E-Verify, the free, Internet-based system that matches an employee’s Social Security number to his or her I-9, has become a requirement for the growing number of contractors taking on federal projects. This article describes who is required to sign on, how to do so, and the pros and cons of the system. A sidebar discusses new I-9 guidelines.
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3 tips on improving communication (and keeping your sanity)
July / August 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 527
Abstract: Today, it may seem as if you have too little communication — or too much. Here are three ways to help you be sure that communication enhances your business instead of crippling it.
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Turning bad news into good with an NOL deduction
July / August 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 521
Abstract: No one likes losses, but a net operating loss (NOL) may help your construction company because you can use it to offset past tax payments through carryback provisions or reduce future tax liabilities through carryforward provisions. Historically, a company could carry back an NOL two years and forward 20 years. The American Recovery and Reinvestment Act of 2009 (ARRA), however, increased the carryback period to five years for many 2008 NOLs. This article can help you determine if you qualify and whether you should carry a loss backward or forward.