Overhead Recovery Rate

The Basics of Overhead Recovery Rate

The IRS just released a new set of proposed regulations on April 17, 2019 regarding investments in Opportunity Zones. The newly minted Section 1400Z-2 of the IRC allows for deferral of capital gains if they are subsequently invested in a designated “Opportunity Zone” and these proposed regulations provide additional guidance for taxpayers on how to decipher the code.

New Proposed Regulations for Opportunity Zones

The IRS just released a new set of proposed regulations on April 17, 2019 regarding investments in Opportunity Zones. The newly minted Section 1400Z-2 of the IRC allows for deferral of capital gains if they are subsequently invested in a designated “Opportunity Zone” and these proposed regulations provide additional guidance for taxpayers on how to decipher the code.

What We Can Learn From the Newest Salary Trends in Construction

At the beginning of 2019 Harris CPAs, in conjunction with CICPAC and PAS, Inc., published a survey reporting the 2018 national salary levels for 3 key positions in the construction industry. The salaries for these positions, which were Senior Project Managers, Senior Estimators, and Controllers, were further categorized by revenue thresholds for the companies surveyed. Finally, mean and median averages were calculated/identified for each revenue category.

5 Suggestions to Perfect Your Audit Committee Charter

The audit committee plays a critical role in providing oversight of the organization’s governance, risk management, and internal control practices. The Audit Committee Charter outlines the authority, role and responsibilities of the members. Following these 5 suggestions can help transform your good audit committee to a great audit committee. — Kevin Congo, Harris CPAs The quality and completeness of the …