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Contractor CPA accountant discusses 2014 Court Case for the Completed Contract Method of Accounting for Master Planned Communities

Construction tax accounting changes. Construction related tax court cases sometimes help find “gray” areas of the Treasury Regs that can be exploited, depending on the Contractor’s comfort with risk. For a free phone consult call (910) 399-2705.

Why would a contractor CPA follow construction related tax court cases? Well, construction tax accounting changes. Sometimes . . . → Read More: Contractor CPA accountant discusses 2014 Court Case for the Completed Contract Method of Accounting for Master Planned Communities

Construction CPA accountant discusses pros and cons of the Completed Contract Method of Construction Accounting

Construction accounting deserves an experienced construction CPA. Our virtual office makes us easy to deal with. (910) 399-2705.

As a construction CPA I usually run three sets of books for a new construction company:

Completed Contract Method of construction accounting. Percentage of Completion construction accounting. Cash basis for construction accounting. . . . → Read More: Construction CPA accountant discusses pros and cons of the Completed Contract Method of Construction Accounting

Construction CPA offers tips for QuickBooks Classes | construction accounting with QuickBooks Contractor Edition

The tricks to making your construction accounting useful in QuickBooks is planning and consistent data entry. Call for a free consult. Our virtual office makes us easy to deal with, wherever your construction firms operates. (910) 399-2705.

Construction CPAs see lots of non-optimal construction accounting. That’s a shame since construction accounting plays a vital . . . → Read More: Construction CPA offers tips for QuickBooks Classes | construction accounting with QuickBooks Contractor Edition

IRS Section 179 Expense and Depreciation

Section 179 helped cause the proliferation of SUVs

Background

Section 179 of the IRS tax code allows a business to immediately deduct the entire cost of capital purchases (think equipment) from the company’s tax return. Subject to conditions of course.

“The 179 expense deduction is the ultimate accelerated depreciation technique.” . . . → Read More: IRS Section 179 Expense and Depreciation

Wilmington NC Accountant and CPA comments on Construction Bonds

Lots of financial discipline and expense go into that first Bond!

As a construction accountant, my experience is that bonding comes up a bit late in the game, once a potential job is basically forfeited because of it.

“Because it takes a lot of preparation to obtain that first Bond, even if you are . . . → Read More: Wilmington NC Accountant and CPA comments on Construction Bonds