Randal DeHart

APRIL 12, 2024

Stepping up your marketing game as a construction business owner is always a welcome topic in my client conversations. You may focus more on accounting and taxes at times, and at other times, your business may slow down, and sales become more challenging. Here are some practical tips that I highly suggest to consider:

Construction 91

Construction Gaming Tax Sales 91

TaxConnex

FEBRUARY 15, 2024

There’s always something changing in the world of tax, especially sales tax. B&O responsibility: A Washington State appellate court has found two sellers responsible for sales tax and business and occupation (B&O) tax on sales made through Amazon’s Fulfillment by Amazon (FBA) program. No refund, stat!:

Sales 189

Sales Tax Illinois Washington 189

Randal DeHart

JANUARY 12, 2024

Tax season can be a bit overwhelming for construction business owners, especially with many things to keep track of in our industry. We know that construction businesses have unique tax considerations that can be tricky to navigate, such as complex accounting and bookkeeping challenges and issues related to payroll and sales taxes.

Construction 94

Construction Tax bookkeeping payroll 94

CPA Practice

JUNE 21, 2023

housing starts unexpectedly surged in May by the most since 2016 and applications to build increased, suggesting residential construction is on track to help fuel economic growth. Beginning home construction jumped 21.7% Applications to build, a proxy for future construction, climbed 5.2% Single-family homebuilding rose 18.5%

Construction 106

Construction Government Sales Real Estate 106

Accounting Seed

MAY 22, 2024

Accounting plays a crucial role in the construction industry by ensuring efficient management of resources. Understanding accounting for construction Construction accounting is unique compared to other industries in how it tracks expenses and reports its finances because its work is largely project-based.

accounting software 59

accounting software Construction AP Automation Account 59

Randal DeHart

MAY 24, 2024

Keeping track of sales, earnings, expenses, and purchases is fundamental to your construction business's overall health and sustainability. The power of effective bookkeeping using QuickBooks Desktop - plus an Important Update from Intuit.

quickbooks 52

quickbooks Construction Finance bookkeeping 52

Randal DeHart

NOVEMBER 10, 2023

Finding some certainty can make all the difference in the unpredictable construction business world. A budget is a projection of future possibilities, enabling you to consider various sales and expense scenarios. Budget vs. Cash Flow: the crucial distinction A common misconception is that a budget and cash flow are interchangeable.

Construction 84

Construction Sales Account accountant 84

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Wholesale sales or sales of exempt goods are not subject to the fee. its Sales Tax Bulletin No.

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Sales Tax Oklahoma Illinois 177

TaxConnex

MAY 6, 2021

There’s always something changing in the world of tax, especially sales tax. In the trendiest sales tax news (aside, of course, from Florida finally passing economic nexus legislation), Connecticut lawmakers have proposed a digital advertising services tax similar, experts say, to one recently enacted in Maryland. Kansas Gov.

Sales 200

Sales North Carolina Tax Maryland 200

Randal DeHart

OCTOBER 20, 2023

Once your construction business is up and running, it’s essential not to rest on your laurels. Grow your sales Contact your best clients. One of the easiest ways to increase sales is to sell more to your existing clients. One of the easiest ways to increase sales is to sell more to your existing clients.

Construction 84

Construction Sales 84

Randal DeHart

APRIL 28, 2023

Construction Company cash flow is the movement of money in and out of your Construction Company; these movements are known in accounting circles as inflow and outflow. Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. Cash is king!

Construction 79

Construction Sales Account accountant 79

TaxConnex

AUGUST 9, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax holidays fail to live up to the hype. in favor of conveniently popular yet ultimately ineffective sales tax holidays.”. Several states tinkered with their sales tax exemptions this summer. on construction and building materials.

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Sales Louisiana Tax Iowa 130

Randal DeHart

MAY 12, 2023

It's rare these days that your prospective leads happen to find your construction business and become a client with no work. Your company has to grab people's attention, turn curious visitors into leads and then convert those leads into sales. Keep in mind: Marketing-Accounting-Production

Construction 76

Construction Sales Account accountant 76

Withum

MAY 10, 2024

It is estimated that only 30% of construction companies survive after the founder dies, and that number drops to 20% through the third generation. The purpose of this article is to provide a high-level overview of the various alternatives that construction businesses can consider as transition becomes a key factor to their survival.

Construction 52

Construction Tax Non-Profits Sales 52

TaxConnex

FEBRUARY 7, 2023

Findings from the third annual Sales Tax Market Survey indicate that a perfect storm is brewing for financial leaders in the new year. Companies still struggle to navigate workforce shortages and retention of internal expertise, yet they remain highly dependent on in-house resources to perform many of the vital functions related to sales tax.

Sales 171

Sales Tax audit Construction 171

Cherry Bekaert

NOVEMBER 14, 2023

Defer Revenue Like-Kind Exchange Section 1031 exchanges allow investors to defer capital gains tax on the sale of real property used in a trade or business or held for investment. Installment Sales Taxpayers who can take advantage of financing a sale of assets to a buyer may have an opportunity to defer tax on the sale over time.

Real Estate 100

Real Estate tax planning Construction Tax 100

TaxConnex

APRIL 13, 2023

Our third annual survey of financial professionals across accounting, manufacturing, construction, software and technology, retail/eCommerce, telecom and others showed that many industries face sales tax challenges and that financial leaders continue to lean on internal resources to get the job done. What’s keeping them up at night?

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Sales Tax tax return audit 130

TaxConnex

MARCH 11, 2021

Sales tax obligations regarding software and other technology-related solutions can often come down to location and definition. Four states recently took a closer look at how sales tax applies to technology-related solutions, one of the more confusing industries for complying with sales and use tax requirements.

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Sales Technology Indiana Tax 196

TaxConnex

JULY 19, 2022

Sales tax obligations are among them. Only now are federal lawmakers beginning to wonder if the current sales tax landscape overburdens online businesses. In the meantime, your business may have to start collecting and remitting states’ sales tax – with severe penalties if you don’t. What do you need to know? The back story.

South Dakota 214

South Dakota Sales Tax tax consultant 214

Randal DeHart

MAY 19, 2023

Sales and profit are two very different things – as a construction business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that solid cash flows from sales deliver little profit.

Construction 82

Construction Sales Account accountant 82

CPA Practice

MAY 17, 2023

Beginning home construction rose 2.2% Applications to build, a proxy for future construction, fell 1.5% Builders are taking advantage of an historically low supply of existing homes for sale and some are offering financing incentives to ease affordability constraints amid budding demand for new houses. million units. to 698,000.

Construction 52

Construction Real Estate Sales Government 52

TaxConnex

AUGUST 3, 2021

There’s always something changing in the world of tax, especially sales tax. Online sales dipped in May, yet sales tax revenues seem to remain robust thanks in part to online sales. Anecdotally, sales tax revenue for local governments in the state of New York state rose 49.2% Minnesota Gov.

Sales 209

Sales Tax Mississippi New Mexico 209

Cherry Bekaert

JANUARY 31, 2024

The construction industry is vital to the U.S. Managing and completing construction projects may seem straightforward, but guaranteeing their profitability is a separate challenge. Challenging Encounters That the Construction Industry Faces The construction industry frequently encounters various challenges.

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Construction accounting software Account accountant 52

Xero

SEPTEMBER 28, 2022

Speaking of building, I’m proud to announce our new partnership with Procore , connecting their industry leading construction platform into Xero. . Chances are if you work in the construction industry, have a large client base that does, or are looking to expand your focus into the sector, you know who Procore is.

Construction 93

Construction accounting and finance bookkeeping Finance 93

TaxConnex

OCTOBER 13, 2020

Gain a better understanding of your sales and use tax obligations with these frequently asked questions we have received from businesses that provide services. Is there anything they should be concerned about with sales & use tax? What multistate sales tax issues might we have?

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Sales South Dakota Tax Hawaii 184

Randal DeHart

SEPTEMBER 16, 2022

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses.

Construction 85

Construction payroll Tax Sales 85

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries. Food for thought.

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Sales Tax Colorado Massachusetts 192

CPA Practice

APRIL 23, 2024

Bloomberg News (via TNS) Sales of previously-owned homes in the U.S. Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves,” NAR Chief Economist Lawrence Yun said in a statement. Other housing data this week showed builder optimism leveled off and construction starts decreased.

Sales 52

Sales Construction accounting and finance Finance 52

Randal DeHart

JULY 14, 2023

In this article, we'll explore ways to adapt and improve your construction company during slowdowns, so your business can emerge more substantial when the market bounces back. If you're concerned about the economy's impact on your business or have already experienced its effects, read on.

Construction 82

Construction Sales 82

Cherry Bekaert

AUGUST 15, 2023

Debt cancellation, foreclosures and short sales can often increase tax liability for cancellation of debt income. Contact Us The post Tax Implications of Debt Cancellation, Foreclosures & Short Sales appeared first on Cherry Bekaert. Property owners restructuring debt should be wary of tax consequences that could occur.

Real Estate 97

Real Estate Sales Tax Hospitality 97

Steve Feinberg

JULY 27, 2022

Running a construction business isn’t like running other goods or services-centered businesses. Here are a few bookkeeping tips from the professionals at AppleTree Business Services for construction companies. Why Is Bookkeeping Important for the Construction Business? Construction Bookkeeping Tips.

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bookkeeping Construction accounting and finance payroll 52

TaxConnex

APRIL 27, 2021

Sales tax obligations are getting more complicated for businesses of all industries. In this blog, we’ll talk to some of the common missteps businesses make when trying to manage sales tax on their own. Figuring out where you have nexus is key to determining your sales tax liability. Not evaluating economic nexus.

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Sales Tax Wisconsin Missouri 130

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels. What is sales tax? What is excise tax?

Sales 98

Sales Tax Michigan Washington 98

TaxConnex

MAY 11, 2021

Both the process of reporting sales tax and the level of sales tax detail required varies from state to state. Some reporting requirements that should be considered in your sales tax compliance process are: 1. In most states, sales tax is reported to the individual state. Know your Deadlines.

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Sales Tax Colorado tax return 131

TaxConnex

JANUARY 25, 2024

Most states change their sales tax rate laws on either Jan. For example, our recent “Hot Topics” webinar examined, among other topics, Michigan making separately stated installation charges exempt from sales tax effective April 26, 2023. Kentucky was the latest state to subject SaaS to sales tax, effective last year.

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Utah Kentucky Alabama Michigan 180

Steve Feinberg

AUGUST 30, 2022

When it comes to running a construction firm, bookkeeping is one of the most important aspects of keeping your finances in check, your budget balanced, and your business profitable. But construction isn’t like a sales-based business, which may only have a single revenue stream and predictable expenses from quarter to quarter.

bookkeeping services 52

bookkeeping services bookkeeping Construction payroll 52

CPA Practice

MAY 26, 2023

On Thursday, May 25, Governor Ron DeSantis of Florida signed a bill to approve legislation that provides six sales tax holidays in the state. The bill also establishes numerous new permanent Florida sales tax exemptions. If the item is subject to two different price thresholds, the highest threshold would be applied where possible.”

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Florida Sales Tax Agriculture 98