Contractor - September/October 2018 - Recognizing and accounting for indirect costs $$

September/October | 2018

From enemy to ally - Recognizing and accounting for indirect costs

In today’s construction industry, every project must be held accountable for its own expenses — in as much detail as possible. Thus, contractors need to systematically identify and account for indirect costs to ensure they see the true cost of each project. This article explains how to define, identify, allocate and contain indirect costs. A sidebar looks at a way to keep overhead expenses from getting out of control.

Get ready to put TCJA's depreciation breaks into action

Taking full advantage of depreciation tax breaks is a time-honored tradition for construction company owners. And this year is no different — in fact, it’s even more potentially beneficial under the changes wrought by the Tax Cuts and Jobs Act (TCJA). This article explores the latest details of Section 179 expensing and the bonus depreciation deduction.

Gearing up for the Internet of Things

Just as the Internet has changed how humans interact, the Internet of Things (IoT) is beginning to change the way inanimate objects communicate with one another and how we interact with those objects. Indeed, these capabilities are becoming more widely used by developers and project owners. This article explains what contractors need to know about the IoT and how they might use it to their benefit.

Greener projects lead general contractor to an EMS

This issue’s “Construction Success Story” features a general contractor who had lost too much money to fines and high costs on green projects. During a financial planning meeting, she mentioned these high costs to her CPA. He had an idea: Design and implement an environmental management system to systematically manage sustainable best practices both on jobsites and throughout the company.

Firm News:

Nicolas K. Waldenmayer & Donald W. Watson Promoted to Partner

Tustin, CA, 2018 - HMWC CPAs & Business Advisors is pleased to announce that Nicolas K. Waldenmeyer and Donald W. Watson have been promoted to partner at the firm.

Nicolas Waldenmayer - READ MORE

Donald W. Watson - READ MORE