Updated 7/30/2019. In the construction world, management is key. It takes a tenured project manager to have a successful and profitable job, so when it comes to the billing department, take a strategic approach.
Contractor billing breakdown
Now some may be asking, “Why does billing matter? Don’t contractors earn revenue regardless of how much they bill?” And that is true – Generally Accepted Accounting Principles (GAAP) state that to be accurate, the best way for a contractor...
By Timothy Kennedy
As we formally say good bye to 2018, we enter a new year that brings lots of promise. In order to seize the opportunities that will be presented to you in 2019, consider solidifying your approach to the following areas of your business:
A robust accounting software that is customized for your needs is a must in 2019. Contractors have unique needs that need to be addressed in order to have an accurate financial picture. Some of the items that...
By Tim Kennedy
Not all work performed on a property is created equal in the eyes of the tax collector. Some improvements fall into the realm of capital improvement, while others are considered repairs, and still others are maintenance services.
Because New Jersey sales tax rules differ based on the type of work performed, it is important to understand the classifications to avoid paying too much or too little in taxes. Here’s what you need to know.
What work is exempt from sales...