October 2024

Commonly Overlooked Tax Credits for Contractors

As you navigate through your year-end process, there are several tax credits that could significantly enhance your financial standing. Many of these credits could be very valuable to your construction business. In this article, I will review these often-overlooked tax credits that can represent real savings and could possibly impact your bottom line when tax season arrives.

Alternate Construction Delivery Methods: CMc in the Spotlight

As construction companies grow and diversify, many encounter alternative project delivery methods beyond the traditional design-bid-build approach. One such method gaining traction is Construction Manager as Constructor (CMc). This approach, which emphasizes early collaboration and risk management, is gaining popularity, especially for large-scale projects. This article breaks down the CMc method, including its “at risk” financial structure, and explains how understanding this process can help contractors seize new opportunities and improve project outcomes.

Could CRM Software Help Your Construction Business

As a construction business owner, you likely use various front-office technology tools, but have you considered customer relationship management (CRM) software? While CRMs are traditionally designed to track and manage customer interactions, they offer much more for construction companies. In this article, you will learn the advantages of CRM software and how choosing the right CRM tailored to your business can enhance efficiency and support growth.

Why WIP Schedules Are So Wonderful

They say no one can see the future, and that may be true. But contractors and their leadership teams, as well as sureties and lenders, can get a pretty good idea. How? When construction businesses regularly supplement their financial statements with work-in-progress (WIP) schedules. This article explains how WIP schedules work and why they’re so wonderful.

Register for Our Tax & Financial Planning Conference on November 6, 2024!

Don't miss our Annual Tax & Financial Planning Conference! Stay ahead of the latest tax, accounting and financial developments while learning key year-end strategies to minimize your tax liability and meet your financial goals. This year, we are excited to welcome keynote speaker Elizabeth Parmley, P.E., I-81 Viaduct Project Director. CPE credit will be offered.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders and maintain active involvement with our construction clients and the many organizations affecting their businesses. We stand out from our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Our comprehensive familiarity with all aspects of construction allows us to help you in business planning and long-term goals, while also resolving your daily operational needs to maximize cash flow.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street, Suite 101, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

3001 N. Rocky Point Drive, Suite 214, Tampa, FL 33607

To learn more about Dannible & McKee, visit us at www.dmcpas.com.