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By Michael Miller, CIT, Senior Manager, Tax & Accounting Services, Saltmarsh, Cleaveland & Gund Did you know you can deduct the cost of your newly-purchased computer hardware and software? The IRS gives three options that benefit companies purchasing computer hardware and software. 1. Section 179 The IRS through Internal Revenue Code Section 179 has provided that computer hardware and software purchased for the use of business can be deducted as an expense in the year
By Daniel Oaks of Nieslon, Hoover & Company, Inc. The surety market is a market of cycles. Similar to the insurance market, the surety market has its ups and downs or its hard markets and soft markets. However, the insurance and surety market do not necessarily coincide. As a contractor, it is important to understand these cycles and specifically how surety cycles impact contractors. Understanding How Different Surety Cycles Impact Contractors How Surety Market Cycles Work The surety market cycles consist of hard and
Have you ever questioned the importance of heavy highway construction reporting? Think about this - each day, project superintendents for heavy highway projects come in and prepare for a typical day. It’s their job to have a constant pulse on what’s happening. Daily, the superintendent and project managers work with different people to attain the right information to inform their decisions - daily field reports, budget expenditures, safety protocol, etc. It takes only one mistake or mishap in

Vision Casting…The Waterfall Effect

Posted by Randy Collins on September 12, 2016
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Category: Uncategorized
One of the hottest terms in leadership these days is “Vision Casting”. While the term itself has been both admired and admonished, the necessity of creating and sharing a cohesive vision in every successful organization is uncontested. When we hear a term like “Vision Casting” we often think about those creative types at Disney or Pixar who think of and develop the likes of Toy Story or we think of the CEO of a multi-billion
Preventative Maintenance Programs for construction equipment save contractors time and money. Are you leveraging the most advanced equipment maintenance tools to maximize your profits? Unplanned Maintenance vs. Planned Maintenance There are two types of maintenance - planned & unplanned. Unplanned maintenance includes machinery breakdown or emergency maintenance for project equipment like crawler excavators, wheel loaders or dump trucks. In these situations, the project manager or contractor will wait for the part to fail before fixing it, costing time

Ocular Business Myopathy

Posted by Randy Collins on July 6, 2016
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I was talking to a good friend the other day at lunch, and he was describing the first time he realized he needed glasses. He was in a business meeting and during a break, he jokingly picked up a pair of eyeglasses belonging to a business associate and put them on. He always thought the way he saw the world was the way the world really existed. The lines were blurred, the colors muted and
Top Risks Facing General Contractors in 2016 & Strategies to Mitigate Risk General contractors already face difficulty when it comes to getting paid - not to mention getting paid on time. Scope of work issues, inspection problems, change order disputes, contract disputes and a number of other factors can greatly impact the profit margin for a construction project. Each year contractual requirements and litigation are becoming more complicated in the construction landscape, making risk assessment
In the construction industry, projects are the lifeblood of the company. One of the critical management functions for a construction executive is making sure that financials are tightly managed. One way to improve profitability is to utilize accounting software that is designed exclusively for the construction industry. The appropriate construction accounting software solution will help improve the efficiency and profitability of your construction company. Here’s how… 3 Ways Construction Accounting Software Can Save You Money

How Much Time Off is Enough?

Posted by Randy Collins on April 11, 2016
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Category: Uncategorized
How does your company handle it’s paid time off policy? Is it traditional? A banked system? Or something more radical and experimental? Employee benefits, including Paid Time Off (PTO), have become a much bigger consideration in the retention of good team members. With technological advances promoting the opportunity for remote workers, the inclusion of the Millennials and their ideas, many companies are breaking the traditional barriers of PTO policy. In the old days, it was
One of our Service Contractor customers recently told me that before implementing an integrated Work Order system that he “would not want to have been one of their technicians”. They would previously arrive at a customer’s site with no information on service history, flying by the seat of their pants. This approach created an environment fraught with opportunity for error.  With no past history, the technician would often have to re-learn work that had already

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