Harris CPAs Opens a New Location in Coeur d’Alene

Harris CPAs is excited to announce the opening of a new office in Coeur d’Alene as of November 1st. The office will function to support the growing client base Harris currently has in Northern Idaho and ensures Harris clients and fellow professionals have easy face-to-face access to the Harris team when they need it. We are also excited to welcome …

5-Step Model For New Revenue Recognition Standards

The Financial Accounting Standards Board’s (FASB) update to revenue recognition is going to impact nearly everyone across all industries. But what are these new standards and why won’t your accountant stop talking about it? When it comes to the new revenue recognition standards, here’s the gist of it: Accounting Standards Update 606 (ASU 606) deals specifically with recognizing revenue from …

Does Your Business Qualify For the Work Opportunity Tax Credit?

What is it: The Work Opportunity Tax Credit is a Federal tax credit available to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment. The target groups includes veterans, temporary assistance for needy family (TANF) recipients, supplemental nutrition assistance program (SNAP) recipients, designated community residents, vocational rehabilitation referrals, ex-felons, supplemental security income (SSI) …

Tariffs Spark Fears of Rising Construction Costs: Could Investment in Technology Be the Answer?

Recent economy and governmental policies show strong ties between the demand for construction and the rise of input costs due to trade tariffs. Material prices and skilled labor shortages lower production efficiency and affect multiple industries in the construction chain. Its important for our clients to know that investing in new technologies and workforce improvement will help transform sustainability and …

The Tax Incentives Keeping the LED Lights On

Many real estate and construction industries unknowingly qualify for tax incentives surrounding the energy efficiency initiatives in new construction. Take a closer look at the cost saving opportunities. The following article has more information. — Josh Tyree, Harris CPAs Q&A with: David Diaz, Managing Partner at Walker Reid Strategies As energy efficiency initiatives become common procedure for new construction, many …

Contractors, Don’t Wait to Act on Revenue Recognition!

The new revenue recognition standard is quickly approaching, so contractors are urged to act now. Revenue recognition standards will shift from a transfer of risks and rewards model to one based on transfer of control. Certain factors play a part in determining revenue recognition and what criteria is needed to qualify. Note several key actions to ensure that you are …