Hiring independent contractors? Make sure they’re properly classified

As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake. The question of whether a worker is an[ … ]

Construction Salary Survey

PAS, Inc., the source for construction industry salary and benefit benchmark data, CICPAC, the CPAs who know construction, and BeachFleischman, have developed a sampling of the 2015 PAS Executive Compensation Survey for Contractors and the Construction Management Staff Salary Survey. The packet includes data on the following positions: Senior Project Manager Senior Estimator Controller Your[ … ]

Build Your Construction Bonding Capacity with a Solid Foundation

A high bonding capacity is something for which just about every contractor strives. Knowing you can get the necessary underwriting from your surety gives you the freedom to bid on jobs well suited to your strengths — not to mention bigger projects with greater potential for profitability. But how do you build that kind of[ … ]

Eight Red Flags Contractors Need to Watch Out For

8 red flags to watch out for in your financial statements Financial statements show not only where a construction company stands financially, but also where it may be headed. Contractors who work with their financial advisors to analyze their statements can often catch problems early on — before they turn into bigger issues. Here are[ … ]

Construction Equipment: Buy, Lease, or Rent?

For many contractors, construction equipment represents their largest expense in terms of (nonhuman) assets. As such, the machinery you use can either help your bottom line by making your workforce more productive or hurt it by drawing away dollars unnecessarily. So it’s important to regularly revisit that classic construction quandary: Should we buy, lease or[ … ]