When the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-02 (ASC 842) several years ago, the deadlines for private and public businesses seemed to be far into the future. FASB delayed the reporting requirements for…
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The IRS recently released the 2022 mileage rates for businesses to use as guidance when reimbursing workers for applicable miles driven within the year. The rates tend to increase every…
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One of the less-talked-about economic side effects of the COVID-19 pandemic is the number of experienced professionals retiring or shortening their retirement timeline. This opens up opportunities for the next generation to…
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The general nature of the construction industry opens up opportunities for firms to fall victim to fraud. The Association of Certified Fraud Examiners (ACFE) reported the median fraud-related loss for construction firms at $200,000 for each incident between January 2018 and September 2019. In addition,…
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Managing cash flow is essential to business management. Revenue can fluctuate, and expenses need to be paid on time to maintain a positive working relationship with vendors, utility…
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The $1 trillion Infrastructure Investment and Jobs Act (IIJA) received the U.S. House of Representatives’ approval Friday, November 5, 2021, to provide funding for improvements…
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The rising cost of construction and delayed timing for completion of projects has been a major problem in the construction industry in 2021. Contractors and consumers have been…
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Managing cash flow is essential to business management. Revenue can fluctuate, and expenses need to be paid on time to maintain a positive working relationship with vendors, utility…
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Note: We are closely monitoring H.R. 3684, known as the Infrastructure Investment and Jobs Act. The Senate has approved the infrastructure bill and now goes…
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Taxes are a constant for any business. They come due every year, whether you have a profitable year or are in times of economic downturn.…
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