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SECURE Act Most Important Update to Retirement in Over a Decade

Americans share at least one dilemma when it comes to retirement planning. From the worker to the employer to the policymaker, everyone is living longer. On May 23, 2019, the House passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act. This legislation, receiving almost unanimous bipartisan support, offers the most significant shift to […]

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FASB Issues Update to Fair Value

The Financial Accounting Standards Board (FASB) recently issued an Accounting Standards Update (ASU) to clarify implementation guidance and disclosure requirements in leases standard. The update addresses two lessor implementation issues and designates lessees and lessors exempt from a specific interim disclosure requirement associated with adopting the new leases standard. In 2016, FASB released updated guidance […]

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IRS Updates Vehicle Depreciation Limits for Automobiles

The Internal Revenue Service recently revised the depreciation limits for business-use passenger vehicles first placed in service during calendar year 2019 and the amounts of income inclusion for lessees of passenger automobiles first leased in 2019. The updated amounts under Revenue Procedure 2019-26 are in table format below. For passenger automobiles to which the Sec. […]

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Building Profitable Estimates

Accurately estimating construction costs lies at the heart of a company’s long-term success, which is why the methods and tools that estimators use to arrive at their final bid are so important. Estimates must consider labor, equipment, material, subcontractors, and other direct and indirect costs, such as insurance, permits, and taxes. Omitted or incomplete items […]

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But First, Technology

Recent changes in technology have significantly altered how contractors do business. Specialized software is changing the way estimators produce bids. Building Information Software (BIM) is allowing teams to integrate design with costing. Drones record spatial location, distances, temperature, ambient and material humidity, as well as capture digital photos. These solutions are only three examples of […]

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