COVID-19 Risk Checklist for Real Estate & Construction Industry Leaders

The novel coronavirus (COVID-19) has upended the global economy in a way that has never before been seen in the modern world. The virus has implications well beyond health: Within a matter of weeks, millions of Americans filed for unemployment, sending the unemployment rate to levels not seen since the Great Depression, and economic...

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Building the Future of Construction with Digital Transformation

By Ian Shapiro, Adam Rouse and Malcolm CohronThe construction industry is due for a digital renovation. Faced with challenges around project efficiencies, ongoing safety concerns and flatlining labor productivity levels, the industry’s sluggish adoption of new technologies has reached an inflection point. Digital transformation requires...

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Internal Controls: A Practical Approach for Nonpublic Companies

Written by Karen Shenk, CPA, CVA, CFE

This article first appeared in CFMA Building Profits (a member-only benefit) and is reprinted with permission. Copyright © 2019 by the Construction Financial Management Association (CFMA). All rights reserved. 

Construction companies are often built from the ground up without much consideration for...

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A Roadmap for Preventing Construction Disputes

By Robert Otruba, Mark Baker, Wiley Wright, Simon Braithwaite, Ian Shapiro

Whether resolved through mediation, arbitration or trial, construction disputes can be costly and time consuming for both project owners and contractors. Construction disputes may involve just a few thousand dollars or may be valued in the billions. The time required...

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What Contractors Need to Know About the PA BME Exemption

Written By: Monte Anderson, CPA
INTRODUCTION A construction contract is a written or oral agreement for the construction, reconstruction, remodeling, renovation or repair of real estate, whereby a contractor permanently attaches or affixes tangible personal property to real estate. Typically, a construction contractor will pay sales or...
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Tips to Maximize Bond Potential

A surety bond is a type of guarantee in which the surety upholds a construction contractor’s promise to an owner that a project will be completed and bills will be paid.  As the surety is extending this guarantee, the contractor’s character and creditworthiness are most important. CPA prepared financial statements, including a balance sheet...

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Missing Participants? Understanding Your Fiduciary Responsibility to Locate Unresponsive Plan Participants

Written By: Megan Senkowski, CPA

A common issue facing plan administrators of defined contribution plans relates to asset balances in their plans of terminated employees. Often times, these balances can sit there for years, generating interest/investment income for the participant, as well as additional administrative expenses for the plan. In the...

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Where does your business have income tax nexus?

The onslaught of modern day technology has made the world as we know it a much smaller place.  As a result, even small businesses are routinely conducting business activities across state and even international borders.  Other small businesses are planning to expand their product and service offerings into new state jurisdictions, as a way to grow...

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New Repair Regulations

Are you prepared for the final tangible property repair regulations?

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U.S. Production Deduction for the Construction Industry

The U.S. Production Deduction or Domestic Production Activities Deduction (DPAD) is a valuable tax tool for businesses in the construction industry, yet it is still often not utilized properly.   Are you missing out on this great tax benefit?

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