Construction

Lowering the Bar on Performance and Payment Bonding

Lowering the Bar on Performance and Payment Bonding Acquiring or increasing your firm’s bonding capacity can open a whole new market of jobs. It can allow you to take on a multitude of public works projects or larger, more profitable, higher-profile private jobs that require a more hearty bonding capacity than what you, or your…

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Fight Back Against Internal Fraud in Your Construction Firm

Fight Back Against Internal Fraud in Your Construction Firm Internal fraud drains approximately $4 trillion annually from global businesses, according to an estimate by the Association of Certified Fraud Examiners (ACFE). The median loss from internal fraud at companies in the construction industry is $227,000, according to ACFE’s latest Report to the Nations. Although companies…

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Important Considerations When Buying Another Construction Firm

Important Considerations When Buying Another Construction Firm Buying another construction firm can be an attractive way to grow your company’s revenue base. A merger or an acquisition can allow you to: Add a new subcontracting specialty, Acquire an experienced labor force to reach new markets, and Deepen your penetration into the market your firm already…

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Crunching Numbers for Multiple Corporations

Crunching Numbers for Multiple Corporations It might be advantageous from a tax standpoint to run a business through multiple entities. For example, a construction company might form a separate company to own and lease its trucks and equipment back to its related entities. Or a corporation might transfer appreciated property to an affiliated corporation in…

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Use Financial Statements to Make a Solid First Impression

Use Financial Statements to Make a Solid First Impression Financial statements are a must-have for any organization. The balance sheet reveals how much its assets and liabilities are worth based on historic costs. The income statement tells investors and lenders how profitably and efficiently the company has performed during the accounting period. The statement of…

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