IRS Announces Retirement Plan Contribution Limits for 2023

November 3, 2022

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…

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Business Tax Implications of the Inflation Reduction Act (IRA)

August 18, 2022

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…

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How to shore up your financial reporting to get ready for IIJA-funded jobs

April 5, 2022

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…

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KPIs to Keep Your Business Profitable

March 23, 2022

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…

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Transitioning your organization to the new lease accounting method

January 14, 2022

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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2022 mileage rates for business reimbursements

December 30, 2021

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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5 steps to a successful succession plan for construction firms

December 13, 2021

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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Internal controls can help prevent fraud for construction firms

December 13, 2021

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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Congress Has Approved the Infrastructure Bill: What’s In It For You?

November 15, 2021

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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