Construction Industry Advisor
Showing 209–224 of 258 results
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Want to avoid court? Try ADR instead
Spring 2011
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 757
Abstract: Disputes arise in all types of business. But they can be particularly nasty for construction companies, because there are so many entities trying to get paid for projects fraught with risk. Yet such disputes can often be resolved more easily and quickly if they avoid litigation altogether. This article looks at a variety of alternative dispute resolution (ADR) methods that offer effective ways to address different degrees of conflict severity. Besides negotiation, mediation and arbitration, there are smaller, more intermediate steps that can be considered. A sidebar explains what’s involved when all else fails and it’s necessary to go to court.
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Owner/developer bankruptcies – Don’t get soaked
Spring 2011
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 724
Abstract: Bankruptcy is an unfortunate fact of life. In the current economic climate, construction companies may be faced with project owners or developers that file for Chapter 7 (liquidation) or Chapter 11 (reorganization) protection. This article offers some tips to help contractors maximize their chances of getting paid. It explains how to obtain a security interest in the project, get paid from assets that aren’t part of the bankruptcy estate, and protect the right to payment for current work.
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Contractor’s Toolbox – Getting to the job: Transportation or commuting?
Winter 2011
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: Few areas of tax law are more confusing than the distinction between deductible transportation expenses and nondeductible commuting expenses. This issue is important for contractors and construction workers, who often travel from home to one or more temporary job sites or who use a home office as a base. This article shows how the IRS sees it.
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Structural engineering – How separate entities can strengthen your firm
Winter 2011
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 598
Abstract: Each form of business — whether it’s a sole proprietorship, C or S corporation, limited liability company (LLC), or partnership — offers different advantages and disadvantages for a contractor. But there can be potential advantages to operating segments of a business through separate legal entities. This article shows how such a practice can reduce risk, offer tax advantages, help with succession and estate planning, and increase bonding capacity.
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Don’t let profit fade wipe out your bottom line
Winter 2011
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 687
Abstract: Many construction projects fall prey to what’s known as “profit fade.” In many cases, this costly problem comes into play when a job goes awry, taking with it the expected profit margin. This article shows how doing one’s homework, expecting the unexpected, and writing clear, specific contracts can help prevent profit fade from wiping out the bottom line — and make a surety more confident in one’s ability to make a profit.
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A blueprint for strong cash flow
Winter 2011
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 820
Abstract: Cash flow is the lifeblood of any business, but it’s particularly critical for construction companies. It’s essential to lay a solid foundation for healthy cash flow, starting with the contract. In many cases, it’s possible to negotiate contract terms that can accelerate the flow of cash. This article looks at such terms, including payment terms, retainage provisions, change order procedures and requisitions. A sidebar offers nine cash-flow management tips.
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Contractor’s Toolbox – Want to improve your financial performance? Track the WIP!
Fall 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 415
Abstract: To avoid unpleasant surprises, it’s important that contractors continuously monitor their work-in-progress (WIP). WIP reports can track key information about each project, such as contract price, projected final costs, costs incurred and amounts billed to date, estimated gross profits, and the value of pending changes. This article shows how timely, accurate WIP reports can, early in a project, help identify problems with profit fade and underbilling, and help strengthen bonding relationships.
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Bonding: Subprime is not a dirty word
Fall 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 282
Abstract: The term “subprime” has been associated with predatory lending practices, but it’s not bad by definition; it simply means extending credit to less qualified borrowers, who pay a higher interest rate to compensate the lender for its increased risk. This article shows why, in construction, subprime bonding works essentially the same way as traditional bonding. It shouldn’t be one’s first choice, but it offers a viable option for contractors that don’t qualify for traditional bonding in today’s tight market.
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Go on the defense with an escalation clause
Fall 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 656
Abstract: Contractors everywhere have experienced the pain of rising construction materials costs and less work, putting their businesses in financial jeopardy. This article shows how an escalation clause in job contracts can help contractors fight back. It shows how such clauses work and how they’re calculated, and how to fend off risks that can be involved.
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Revenue recognition – Proposed changes mean big impact on contractors
Fall 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 1173
Abstract: The Financial Accounting Standards Board and the International Accounting Standards Board are proposing a new revenue recognition standard that would have significant implications for construction firms. This article looks at how revenue recognition works now and how it could look in the future. A sidebar reveals that the Small Business Jobs Act, passed in September, includes a tax provision extending 50% bonus depreciation to 2010, and shows how it affects calendar-year taxpayers using the percentage-of-completion method of accounting.
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Contractor’s Toolbox – Go paperless. Save money. Save time.
Summer 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 431
Abstract: Paperless construction management offers a variety of significant benefits — and using less paper is just the beginning. Paperless systems can not only reduce costs and help save trees, but also help increase productivity, reduce errors, and improve cash flow and profitability. This article looks at some of the specific benefits.
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Think twice before walking away from stalled projects
Summer 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 528
Abstract: Stalled and abandoned projects are an unfortunate reality in the construction business today. Financing may dry up, or owners faced with dwindling prospective tenants may conclude that they’re better off walking away. But that doesn’t mean contractors should do the same. Depending on their potential liability exposure, it may make sense for contractors to do some extra work to secure or stabilize the job site, or to protect their work against the elements — even if they won’t be compensated for it. This article describes the steps to take.
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How would you handle a crisis? – Don’t wait until one happens to find out
Summer 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 651
Abstract: Catastrophic events can happen at any time — but their consequences can be reduced if a construction company has a formal disaster management plan already in place. It starts with identifying every crisis that could challenge the business and then creating a suitable response to each. This article shows how to assemble a crisis management team, and how to be ready to address the emotional needs of employees affected by the crisis.
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Health care reform – Understanding what it means for your construction company
Summer 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 927
Abstract: With its complex provisions and multiple effective dates, the new Patient Protection and Affordable Care Act has created a lot of confusion among employers — including construction company owners. This article answers some common questions about the new law, such as whether health insurance must be provided to employees, how companies can determine the number of full-time-equivalent employees they have and how this affects their legal obligations, and action steps to take. A sidebar discusses a tax credit that’s available for small businesses.
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Contractor’s Toolbox – Debt relief also brings tax implications
Spring 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: As the economy continues to struggle, many contractors are asking their lenders for debt relief. Often, restructuring debt is in the best interest of both borrower and lender. But contractors who are discussing workout options with their lender should be sure to consider the tax implications. Even if their property has declined in value, a foreclosure or debt workout can result in taxable cancellation-of-debt (COD) income for recourse loans, or capital gains for nonrecourse loans. There are ways to avoid or defer COD income, but the rules are complex.
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Putting the WOTC to work for you
Spring 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 814
Abstract: One financial tool that contractors often overlook is the Work Opportunity Tax Credit (WOTC) — a tax break available to companies that hire workers from certain disadvantaged groups. The WOTC has been around for years, but last year’s stimulus legislation expanded the list of targeted groups to include “unemployed veterans” and “disconnected youth.” This article looks at details of the credit and how to apply, while a sidebar discusses the Hiring Incentives to Restore Employment (HIRE) Act of 2010, a tax break for hiring and retaining workers.