9.4.18
Is Your Company Ready to Implement the New Revenue Recognition Standards?
The time is near. The new revenue recognition standards (Topic 606), which vastly changes the revenue recognition model for contractors, is on the horizon for…
8.30.18
After the New Tax Law – Depletion Becomes Top Tax Saver for Pit Owners
Like depreciation, depletion is an accounting item that is the allocation of costs associated with utilizing assets to generate revenue. Where the two differ is…
8.20.18
Assessing the S Corp
The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not…
8.19.18
IRS Issues Proposed Regulations on the Pass-Through Business Income Deduction
The IRS recently released highly anticipated regulations addressing the deduction for up to 20% of qualified business income (QBI) from pass-through entities. The deduction was…
8.18.18
Subcontractors, What Should You Do When a Bid Goes Bad?
From childhood on, we’re all told that “everyone makes mistakes.” Unfortunately, sometimes this particular aspect of the human condition can afflict subcontractors as they submit…
8.17.18
Business Deductions for Meal, Vehicle and Travel Expenses: Document, Document, Document
Meal, vehicle and travel expenses are common businesses deductions. But if you don’t properly document these expenses, you could find your deductions denied by the…
8.16.18
Budgeting Success for the Manufacturing Industry
When a manufacturing company doesn’t have a clear idea of its annual budget, it runs the risk of spending more money than it earns in…
8.15.18
Assessing Your Exposure to the Estate Tax and Gift Tax
When Congress was debating tax law reform last year, there was talk of repealing the federal estate and gift taxes. As it turned out, rumors…
8.14.18
Is Your Company Overpaying on Sales and Use Taxes?
It’s a safe bet that state tax authorities will let you know if your business hasn’t paid enough sales and use taxes. But the lines…
8.13.18
A Fresh Look at Revenue Management for the Construction Industry
The survey, “The New World of Revenue Management,” by the Institute of Management Accountants and cloud ERP provider FinancialForce, is making waves. After surveying 6,000 accountants and financial…