Archive for the ‘Construction’ Category

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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Thursday 11/30/2017

Examining IRS Code Section 460: What You Don’t Know Can Hurt You

Dennis Dlugosz – Director, Corrigan Krause This article was first published in the November 2017 issue of Properties Magazine.  With construction accounting, there are a number of allowable choices to consider when determining the correct and most beneficial tax method to use. Under Internal Revenue Code § 460 (460), the percentage-of-completion method (PCM) of accounting […]

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Thursday 08/10/2017

Are Teaming Agreements the New Joint Ventures?

Elizabeth Friswold, CPA explains the benefits of teaming agreements and things you should consider. Are you familiar with teaming agreements? Did you know that teaming agreements could benefit your company? Learn the basics and benefits of these types of agreements. The Basics Where did teaming agreements come from? Born from the Small Business Jobs Act of […]

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Thursday 06/15/2017

Which Method is Right for You: Completed Contract or Percentage of Completion?

Sean Brady explains method options for construction companies: Identifying the best accounting method to report your income and expenses is not always an easy task. Many rules and regulations apply and making the incorrect choice can negatively impact your business. It’s important to understand how each method differs, paying special attention to the impact on […]

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