Surety bonds are commonly needed by construction companies. Often confused with insurance, these bonds work more like a form a credit—a guarantee that the construction company will carry out a contract within all applicable laws…
The 2017 Tax Cuts and Jobs Act is the most comprehensive reform to the U.S. tax code in more than 30 years. As taxpayers sort out the changes, construction company contractors should take notice of a very positive change in the tax reform package—the increase in the gross receipts limit to qualify for the small construction contract exception to the percentage of completion method (PCM) by $15 million…
If you are a contractor seeking a long-lasting relationship with a surety, it helps to first understand how that surety views certain factors related to you and your ability to perform and complete jobs…
Surety bonds are used in the real estate and construction industries to ensure the completion of a contract in the event of a contractor default. If you as a contractor are bidding on work, there is a possibility that contract requires a surety bond…
Ryan Cook shares insights on why and how to value construction company assets such as heavy machinery, vehicles and other equipment…
Succeeding in the construction industry takes accurate bidding, quality work, savvy management, cost controls and the assistance of advisors who know the business and can help move your company ahead.
Construction business owners regularly have to report to financial institutions. Whether they are requesting a bank to increase their line of credit, or asking for a loan, or they may need to get bonded or insured for an upcoming project, it’s important that the owners have all of their financial statements in order…
Regularly ‘checking in’ on your company’s financial health is an important part of your overall business strategy. Most construction company owners are extremely busy in various parts of their businesses, making it easy to lose sight of the overall picture and susceptible to financial problems.
Construction contractors, whether large or small, have a unique set of challenges when it comes to running their businesses. At Lutz, we work with a number of contractors and are able to see from an outside perspective what these challenges are and how to best navigate them.
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