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2017–2018 Tax Planning Guide

Although you can’t avoid taxes, you can take steps to minimize them. This requires proactive tax planning—estimating your tax liability, looking for ways to reduce it and taking timely action. To help you identify strategies that might work for you, we’re pleased to present this tax planning guide. It points out some possible tax law changes […]

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Five Year-End Planning Strategies for Contractors

As we creep toward the end of the year, now is the time to consider tax strategies and financial statement performance for your operation. There are different tax methods available and unlike many industries, construction can choose more than one.  Working closely with your accounting professional is key in determining how your chosen strategy will […]

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Common Accounting Mistakes Contractors Make

Accurate financial statements are imperative to the success of your operation. Lenders and bonding companies depend on financial statements when determining the liability, they are willing to take with any operation. Bookkeeping and accounting aren’t necessarily a strength for many contractors, which is why companies employ the help of accounting professionals. Your accountant is responsible […]

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What Is Blockchain and How Will It Change Accounting?

Like it or not, blockchain is here to stay, and accounting is one industry that is sure to see disruption. Blockchain began as the technology behind Bitcoin, the most popular cryptocurrency. A distributed ledger technology, Blockchain is a database that everyone can access. Essentially, this new crypto-technology enables secure-funds transactions and ensures that data cannot […]

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Partnerships Must Prepare for New Audit Regime

Originally posted in January, the IRS has reissued a proposed regulation that implements the centralized partnership audit regime. Mandatory implementation is set to take effect on January 1, 2018. Replacing the unified audit procedures enacted by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), the newly reissued rules will assess and collect tax […]

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