On October 21, 2022, the Internal Revenue Service (IRS) announced the updated contribution limits to retirement plans in Notice 2022-55. The new limits are valid…
The House of Representatives passed The Inflation Reduction Act (IRA) Friday, August 12, and President Joe Biden signed into law August 16. The legislation, which…
Since the passage of the $1.2 trillion federal Infrastructure Investment and Jobs Act (IIJA) in November 2021, construction companies have been scrambling to prepare for…
Many businesses develop a list of key performance indicators (KPIs) to track profitability and spot issues before they become full-blown problems. Monitoring KPIs is essential…
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…
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…
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…
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,…
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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