September/October 2013

If you buy, you could qualify — Depreciation breaks offer tax savings for contractors
Contractors can celebrate the arrival of 2014 with new equipment or software — and favorable tax treatment. The American Taxpayer Relief Act temporarily extended the currently more beneficial versions of 50% bonus depreciation and Section 179 expensing. This means business owners can write off 50% of the entire price tag for qualified new equipment that’s operational by Jan. 1; and Sec. 179 expensing allows deductions for 100% of the costs (up to $500,000) associated with buying a wide variety of new and used equipment. This article explains the details, while a sidebar discusses how to put idle equipment to profitable use.
4 types of construction apps for mobile devices
Once merely the means of passing the time with an amusing game or keeping up with your messages, tablet and smart phone apps can now legitimately serve construction companies in many ways. This article describes four types of mobile apps to consider for areas such as project management, bidding and estimating, accounting and bookkeeping, and equipment management.

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Take a tough stand — Common fraud schemes stay that way for a reason

Although there’s no surefire protection against dishonest employees, establishing a hands-on management style that rewards honesty and takes a tough stand on thievery will go a long way toward protecting assets from internal fraud. This article discusses check tampering and accounts payable fraud, along with controls to guard against fraud.

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Construction Success Story — Contractor spots market trend and makes his move
This issue’s “Construction Success Story” discusses a contractor who knew that, when the health care act was finally passed, it likely would mean an explosion in demand for health care facilities. He saw this as a once-in-a-lifetime opportunity, but he and his employees didn’t have required specialized certification and training — and the tepid economy at the time and a light backlog were limiting his funds. His financial advisor identified tax incentives for employee training and devised a plan for leveraging the contractor’s personal property and investments to create additional cash flow.

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