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How to Avoid Payment Disputes with Cost-Plus Contracts

When it comes to getting paid for your work, it should be straightforward – submit an invoice and get paid. Rarely, however, is this transaction so simple. The culprit of payment disputes usually boils down to the contract. The key to neutralizing tensions surrounding payment terms (and getting paid), is to establish a simple contract […]

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3 Tactical Budget Reminders for Construction Firms

When you run a small business, you wear more than just one hat, but is budget master one of them? When it comes to protecting your bottom line, your budget plays a critical role. A smart budget accurately sets the tone for the timeline of your project; it also determines the people you hire and […]

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IRS Finalizes Rule for Truncating SSN on W2

Final regulations from the Internal Revenue Service (IRS) give employers decision-making rights on whether to truncate their employees’ Social Security Numbers (SSN) on Form W2, Wage and Tax Statement. The rule, which began its journey in 2017 as a set of proposed regulations, is another step in the right direction toward protecting employees from identity […]

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The Taxpayer First Act

The Taxpayer First Act (the Act) of 2019 was signed into law on July 1, 2019. The bill, having gone through a few changes on its way to the president’s desk, passed with bipartisan support – a rare thing in Washington these days. The law aims to reform the Internal Revenue Service (IRS) by making […]

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How Will the 2020 Form W-4 Impact Income Tax Withholding?

The Internal Revenue Service (IRS) has released another preview of Form W-4 to the public. The new design aims to simplify the withholding system, replacing complicated worksheets with questions designed for the layman. The hope is that the form will help employees report more accurate amounts, allowing the IRS a better assessment of taxes paid. […]

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