Harris Breakfast Series: Cash Flow Management for Contractors

taradavis@harriscpas.com

Where’s the cash? This question is all too common in the construction industry, and even profitable construction companies can have cash flow problems. As construction companies continue to remain busy and competitive, monitoring the day-to-day operations often overshadows monitoring cash flow. Contractors that are about to start a significant project or a significant amount of new work are especially at …

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.

CFMA Educational Series: Accounting Update for Contractors

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We’re just 1 week away, don’t forget to register for this annual event! This year, we’ve got an excellent lineup that will provide a comprehensive update on: Revenue Recognition; What Contractors Need to Know Construction Recruiting & Compensation Update Impact of Tax Reform on Contractors Evaluating Contractors’ Financial Statements If you have had some exposure to the changes in revenue …

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 …