It’s a sad fact of the construction industry that fraud is all too common. As the owner of your own construction company, you have stay alert to whether your contractors, subcontractors or employees might be trying to rip you off. You not only have to worry about the dollars you’re losing due to fraud, but also your professional reputation. If someone commits fraud on behalf of your company, it could leave you exposed to career-ending lawsuits.
Avoiding fraud requires strong systems for ensuring...
Being a small business owner sometimes feels like a lonely job. Larger institutions benefit from retaining employees who you can lean on for their experience and advice, especially during stressful times like tax season. However, help is available for smaller companies too. A seasoned small business tax preparer can go a long way towards making you feel confident in your company’s finances while also saving you time and money.
Don’t wait until April
Make no mistake: tax preparation should be a yea...
With the start of a new year, it is a convenient time to take a look at some of the financial trends that influenced the construction industry over the last year and will likely continue to do so in 2020.
Here’s a quick overview of some of these major construction accounting and finance trends you should be aware of as they continue to be influential in your industry.
Online lenders entering the industry
Online lending has really taken off in a variety of sectors over the last few years, and it has...
Renting construction equipment is a great way for successful construction companies to continue completing projects without the additional upfront and maintenance costs of owning machinery. Construction companies need to stay liquid between jobs and renting helps companies to do just that. Below are a few of the financial benefits your construction company will enjoy when renting construction equipment.
No high upfront costs
New construction equipment does not come cheap. Making such a large purc...
Outdated or obsolete technology makes your business inefficient. Just as many things in our lives need updating from time to time – from slow technology to the apps on our phones – you also need to look at how you can update your processes to improve your business.
Some companies may not update their processes because they think they can’t afford to buy some fancy new invoicing software or pay a bookkeeper to manage payroll. Others simply may not be aware that better options are available.