Resources

Archive for the ‘Construction’ Category

Friday 04/09/2021

Navigating the Alternative Minimum Tax (AMT): Updated for 2021

Alternative minimum tax (AMT) is essentially a base-level percentage an individual taxpayer or S-corporation must pay the IRS, regardless of the credits and deductions they are entitled to. Contractors need to be especially mindful of AMT, as it can have a major effect on tax liability. Long-Term Contracts and AMT When reporting regular tax calculations, […]

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Monday 01/11/2021

What Your WIP Schedule Can Tell You

The monthly work-in-progress (WIP) schedule your team puts together can be so much more than your financial statements. It can help you manage and plan throughout the entire year to better manage your jobs, maximize your profits, and assist with tax planning. Make Sure Your WIP is Accurate To start, make sure your WIP schedules […]

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Thursday 02/21/2019

Impact of Technology in Construction

Dennis Dlugosz, CPA is a Director and the leader of the Construction Services group. Technological advancements have affected several industries, forcing businesses to adapt to these innovations or fall behind. Similar to other service related fields, construction has also been affected by these changes, which has promoted technological developments heavily within the past decade. Some […]

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Thursday 10/25/2018

5 Best Practices for Construction Accounting

Elizabeth Friswold, CPA CFE is a manager at Corrigan Krause. Construction accounting has its own unique set of accounting complexities not faced by other industries.  Whether you are the bookkeeper or owner of a construction company, you are affected by the accounting practices your company elects.  This article provides different best practices that your accounting […]

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