INSIGHTS

Construction Contractors Can Benefit From Tax Reform Changes to Long-Term Contracts Exception

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…

Strengthening the Contractor-Surety Relationship

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…

What Are Surety Bonds, and When Might You Need One

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…

Financial Statements: What do the Banks/Bonding Companies Really Want to See?

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…

Indicators of Your Construction Business’s Financial Health

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 Cash Management Tips

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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