Contractor
Showing 273–288 of 390 results
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Now’s the time to start thinking about an ownership transfer
July / August 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 524
Abstract: Contractors who wish to transfer ownership to the next generation (rather than sell to a third party) might be wise to start such transfers sooner rather than later — especially this year, before the $5.12 million federal gift tax exemption drops to $1 million in 2013 (absent congressional action). But, as this article explains, it’s not necessary to transfer the entire interest. Those wishing to maintain operational control might hold on to more than half of their interest, or, alternatively, set up a family limited partnership.
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What’s the true cost of your labor? — Think it through before adding or subtracting
July / August 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 991
Abstract: Before either adding or subtracting employees, it’s important for construction companies to determine the true cost of each worker. Contractors need to look at expenses beyond just salary. And they need to bear in mind that there are costs in terminating employees as well as alternatives to hiring — such as engaging independent contractors instead of taking on more staff (though it’s important to abide by IRS rules). A sidebar lists the variety of payroll taxes an employer must keep track of.
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Construction Success Story — Observant contractor anticipates government audit risk
May / June 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 503
Abstract: This issue’s “Construction Success Story” discusses a contractor who consulted his financial advisor after seeing an acquaintance’s company fail a government construction audit, leading to a halt on all job payments and putting the poor fellow’s contract at risk. The advisor showed how to best anticipate the risk of such an audit, and then explained the different types of government audits and some fundamental preparatory steps.
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Beware of pension pitfalls if terminating union contracts
May / June 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 526
Abstract: Some contractors may try to slash labor costs and payroll expenses by parting ways with workers whose price tags have exceeded their limits. If the employees in question are union laborers, this can be an expensive proposition for a construction company — especially if the union has a pension fund. As this article explains, concession bargaining can often convince trade unions to forgo or give back improvements in pay and conditions in exchange for job security. Other alternatives include petitioning for union decertification or setting up separate enterprises to take on union projects.
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That classic quandary: Buy, lease or rent?
May / June 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 723
Abstract: It’s a classic construction quandary: whether to buy, lease or rent equipment. This article examines the cost and tax implications of each option. Some combination of renting, leasing and buying may allow a construction company to meet both its short- and long-term equipment needs. Determining the right mix, however, requires careful evaluation of its needs and financial situation.
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Construction Success Story — Contractor uses JPM to pinpoint job productivity
March / April 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 520
Abstract: This issue’s “Construction Success Story” looks at the case of a contractor whose company was constantly scrambling to meet construction deadlines and racking up more labor hours than were budgeted. His advisor explained that the accounting measures that the contractor used to track his productivity didn’t allow him to make timely adjustments to his projects to fix productivity problems. He suggested instead that the contractor try using ASTM International’s new Job Productivity Measurement (JPM) standard — the first standardized metric for tracking construction productivity.
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Getting accountable with small tool reimbursements
March / April 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 728
Abstract: Many construction companies permit — even encourage — employees to buy their own small tools and then seek reimbursement from their employer. These companies can use this arrangement to gain some tax advantages and keep workers from unnecessarily incurring tax liability by making the plan “accountable” in the eyes of the IRS. This article explains the benefits of an accountable plan and the criteria that must be met.
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5 ways to boost your business development skills
March / April 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 478
Abstract: To maintain a healthy backlog of projects and stay afloat financially, it’s important to focus on bringing in new customers and projects. This article offers five ways to boost business development skills, including crunching the numbers and maximizing marketing efforts.
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Are you playing by the book? — A primer on construction accounting methods
March / April 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 1012
Abstract: Contractors have multiple accounting methods to choose from. But some are off-limits to certain contractors. This article looks at the cash and accrual methods and the requirements that construction companies must meet to use one or the other. It also discusses two of the most common long-term contract accounting methods — percentage-of-completion and completed-contract — while a sidebar notes that contractors who use the percentage-of-completion method need to “look back” when the contract is done.
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Construction Success Story — Contractor eases into the benefits of e-filing
January / February 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 541
Abstract: This issue’s “Construction Success Story” focuses on a contractor who met with his advisor to discuss a recently passed state law that required taxpayers to file forms, as well as pay taxes and fees, electronically. He was a little worried about the transition to a paperless method. But the advisor explained that, by investing in an e-filing application that the contractor could integrate into his existing construction-specific accounting and payroll software, he could direct the e-filing program to pull information already in his records and fill out many portions of the forms automatically, thereby saving time and money and increasing accuracy.
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Implementing an accident prevention and response program
January / February 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 472
Abstract: Construction sites are inherently dangerous places. To protect their workers and bottom line, contractors must actively work at minimizing safety hazards and handling injuries appropriately. This article provides tips on implementing an effective accident prevention and response program
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Consider mediation for your next construction dispute
January / February 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 747
Abstract: A contractor who stays in business long enough will likely encounter a situation with an owner or developer that can’t be resolved with a simple chat. In such situations, lengthy and expensive litigation may seem inevitable — and if not that, a binding arbitration hearing. But there’s another alternative to consider: mediation. This article explains what’s involved in the mediation process, and shows how it can be quicker, cheaper, more flexible and less headache-inducing than arbitration or litigation.
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Construction Success Story – Contractor practices preventive medicine with subs
November / December 2011
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 435
Abstract: This issue’s “Construction Success Story” discusses the case of a contractor who asked his financial advisor for some advice on selecting the right subcontractors for a new, big job. Picking the wrong ones could lead to costly delays — or even termination of the sub in question — which could mean paying attorneys’ fees, scrambling to complete or redo the work, and damaging the contractor’s good standing with the project owner. This article looks at the specific tips the advisor offered to avoid such consequences.
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Whip your WIP report into shape
November / December 2011
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 428
Abstract: If a construction company’s profitability is lagging or its surety seems a bit more hesitant than usual, there may be a number of things in need of doing. But one of the simplest is a reassessment of the business’s work-in-progress (WIP) report. The breadth of detail and accuracy of data in these critical documents can often suffer over time. This article shows how to make sure a WIP report is sufficiently comprehensive and includes all revenues and costs for each current and upcoming contract.
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Could pay-for-performance bonuses give you a boost?
November / December 2011
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 658
Abstract: For contractors who have either stopped offering bonuses to cut costs or no longer wish to hand out bonuses quite so freely, a performance-based bonus plan might be the answer. Such plans can motivate employees and align their efforts more closely with company goals — but they can be a challenge to set up. This article offers tips on tying bonuses to specific activities; how to pay for the program; and timing and quality issues.
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Out on the border – Avoiding multistate taxation missteps
November / December 2011
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 914
Abstract: For construction companies, crossing state lines for a project can boost the bottom line, but it can also mean dealing with new and complex tax issues. When determining a contractor’s tax eligibility, governments consider whether the company has “nexus” in their respective states, meaning that its presence there is significant enough to subject it to taxes. This article explains what activities trigger nexus, how states determine the amount of income tax owed, and what other taxes might be incurred. A sidebar discusses the usefulness of a nexus study to help answer such questions in advance.