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Category: Contractor Chronicles

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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Year-End Tax Planning: The Most Popular Tax Credits for 2019

Whether you are an individual taxpayer or a small business owner, understanding your eligibility for tax credits is an essential facet of income tax planning. Unlike deductions, which only reduce taxes owed by the product of the amount of your deductions multiplied by your marginal tax rate, tax credits provide dollar-for-dollar tax reduction. The following […]

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Improve Communications to Improve Cash Flow

To stay on top of their game, contractors must guarantee profitability. Positive cash flow is one way to ensure success, possibly the most critical way. Conversely, cash-flow concerns will quickly thwart a business owner’s plans. Sometimes, cash management challenges are the result of something pretty great – growth. Other times, they are the result of […]

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Recession-Proof Your Construction Business with Better Business Practices

 The construction industry is enjoying a time of robust growth. According to FMI, Total construction put in place estimates for the U.S. project positive momentum in the top three categories, residential, non-residential, and nonbuilding structures, over the next 5 years Top-performing segments (+5% or more) include office, educational, public safety, transportation, manufacturing, highway and street, […]

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