In the News

Copyright 2016

Construction ebbs and flows like the tides. That's why many construction business owners say:  "When it rains, it pours," and "it's always feast or famine." To help, here are 10 steps to consider which can bring in vital cash when work slows down, and your firm doesn't have a lot of building projects going on.

Copyright 2016
Creating a formal debt management plan for your construction company will save you thousands or even tens of thousands of dollars in interest, over haphazard borrowing.
Copyright 2016

Best practices for containing insurance costs are critical because insurance is one of the biggest costs in the dangerous construction environment.

Here are 10 ways contractors may be able to save money on insurance:

Copyright 2016

Joint ventures are common in the construction industry, especially with large long-term projects. These collaborative arrangements allow construction firms to work together, for a limited time period, on one or more construction projects.

Copyright 2016

Construction projects require coopeation and coordination among a long list of participants including architects, contractors, subcontractors and others. So it's not surprising that even the most straightforward construction projects can result in disputes and ultimately, costly litigation.

Copyright 2016
If you find your company gaining a large influx of projects, the biggest problem will be the boost in the amount of capital you will need in comparison with your cash flow. This demand for cash can make it hard to ramp up to meet growth opportunities, but you can effectively manage it by using existing credit efficiently and taking out new strategic lines of credit.
Copyright 2016
If you're in the construction industry, you've probably received an offer like this or made a similar offer to someone else in a different line of business. It's a modern variation of the age-old practice of barter. What makes it especially intriguing in this day and age is the idea that you can exchange services or products with someone without exchanging money.
Copyright 2016

Builders and contractors who buy commercial general liability (CGL) insurance policies with the impression that they will keep them safe from allegations of inadequate or faulty work must be aware of what their policies cover. It's important to know that a CGL policy does not provide coverage for work that is faulty.

Copyright 2016
Although you usually can't deduct typical "commuting" expenses from home, you may qualify for a special exception if you're away working on temporary assignments. But the IRS and the U.S. Tax Court won't allow borderline deductions, as evidenced by one case involving a construction worker.
Copyright 2016

They say hindsight is 20/20.You can take advantage of that hindsight by holding regular project closeout meetings to find nuggets of truth about how the project went and learn from them.

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