7 tips for avoiding construction disputes

A single construction dispute can turn a profitable job into a loss; multiple ones can put a contractor out of business. This article describes seven strategies for avoiding them, including careful drafting of contracts, adhering to accurate scheduling and considering alternative delivery approaches. A single construction dispute can turn a profitable job into a loss;… Read more »

Respond quickly to succession plan troubles

Family-owned construction businesses often face distinctive challenges when it comes to succession planning. Emotions can run high, and the business owner’s lifelong working legacy may be at stake. This article discusses various ways to address succession planning concerns and conflicts. Family-owned construction businesses often face distinctive challenges when it comes to succession planning. Emotions can… Read more »

New accounting standard: Are there leases hiding in your contracts?

Construction businesses with a calendar year end have until 2021 to implement Accounting Standards Codification (ASC) Topic 842, Leases, to stay in compliance with Generally Accepted Accounting Principles. This article explores one of the biggest new challenges: embedded leases. A sidebar provides a brief recap of the overall rule changes under ASC 842. Late last… Read more »

The potential of robotic process automation

Robotic process automation (RPA) refers to software tools that automate repetitive, rule-based human tasks. Examples include creating invoices, managing documents and performing certain HR tasks. This article looks into potential uses of RPA for construction companies. Robotic process automation (RPA) isn’t new, but improvements in the technology and shrinking costs have made it more accessible… Read more »

The Secure Act – What Plan Sponsors Need to Know for 2020

On December 20, 2019, President Trump signed into law the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act), which is the most extensive retirement legislation since the 2006 Pension Protection Act. The SECURE Act includes many changes that will impact both participants and Plan Sponsors. We have addressed some important provisions that… Read more »

Understanding the Uniform Guidance Suspension and Debarment Regulations

Suspension and debarment is another of the 12 compliance requirements included in the Compliance Supplement, published by the Office of Management and Budget. The Uniform Guidance regulations for suspension and debarment originate from 2 CFR Part 180, Executive Orders 12549 and 12689. While 2 CFR Part 180 is directed towards federal agencies, the regulations still… Read more »

Nonprofit Parking Tax Repealed

Tax exempt organizations received good news prior to the end of 2019 with a provision included in the Consolidated Appropriations Act, 2020 that was signed into law on December 20, 2019.  The provision repeals the requirement in Internal Revenue Code Section 512(a)(7) for not-for-profits to treat as unrelated business taxable income (UBTI), amounts paid for… Read more »

New Year New Form W-4

Going into the 2020 New Year you will see changes to more than just resolutions. The 2020 Form W-4, Employee’s Withholding Certificate, is quite different from the previous versions. This new form comes from a federal tax law change that took place back in 2018. While the IRS is not requiring all employees to use… Read more »

Top Blog Posts of 2019

We’ve published a lot of content this year, but a few posts seem to be particularly popular! Here’s a review of our top blog posts that received the most attention this year. 1. Data flow Diagrams – Mapping Your Way to Better Security Data flow diagrams are focused on individual (or interconnected) business processes. It… Read more »