Construction

5 Financial Management Challenges Nonprofits Face During a Construction Project

Articles, Construction, Featured Events, News, News & Events, Non-Profit, Sage Intacct / By

For many nonprofits, launching a construction project marks a pivotal moment. Whether it’s building a new sanctuary, expanding a food bank’s warehouse or developing a community center, construction can dramatically increase your organization’s capacity to serve. But along with the promise comes financial complexity- and potential pitfalls. Unlike routine operating expenses, construction introduces a host […]

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Building with Fiscal Accountability

Articles, Construction, Featured Events, News, News & Events, Non-Profit, Sage Intacct / By

Sage Intacct Financial Software for Nonprofit Construction When your nonprofit construction initiative outgrows basic accounting systems, you need more than just software – you need a strategic partner who understands both the technical complexities of enterprise resource planning and the unique financial challenges of mission-driven building projects. Gray, Gray & Gray specializes in implementing Sage

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R&D Deduction Update

Architecture/Engineering/Design, Articles, Construction, Featured Events, Martin Prendergast, News, News & Events, Tax Strategy & Compliance / By

By Martin E. Prendergast, MBAGray, Gray & Gray, LLP The U.S. tax code offers various provisions designed to incentivize business growth and innovation. Among them, Section 174 plays a crucial role by allowing businesses – including many in the architecture, engineering, design, and construction industries – the option to deduct or amortize research and experimental

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Man at Construction Company working on Financial Management

Leveraging Section 179 for Optimal Savings in Construction Companies

Articles, Construction, Featured Events, News, News & Events / By

By Derrick Rebello, CPA & Brad CarlsonGray, Gray & Gray, LLP In the dynamic and competitive world of construction, good financial management is pivotal. Construction companies have multiple overheads ranging from labor to machinery, all of which can significantly impact their profitability. However, the Internal Revenue Service (IRS) provides some relief in the form of

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Right Sizing Your Financial Management Software

Articles, Bill Constantopoulos, Construction, Featured Events, News, News & Events, Sage Intacct / By

By Bill ConstantopoulosGray, Gray & Gray, LLP  As your construction business grows and evolves, your needs change. This holds particularly true for financial management systems. If your business started small, you may have initially chosen a software solution appropriate for startups and small businesses. But over time, as your business operations have expanded, you may

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Articles

Cyber Attacks Could Pose Threat to Materials Integrity

Articles, Construction, Cybersecurity, Featured Events, General, News, News & Events / By

By Nathaniel C. Gravel, CISA, CISM, CRISC Forget ransomware. The latest cybersecurity threat could compromise the integrity of construction materials, creating the danger of structural collapse. According to an article on the Cybersecurity Dive website, online programs and automated systems used to control the manufacture and testing of construction materials have become targets for cyberattack.

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Does Your Architectural or Engineering Firm Qualify for R&D Tax Credits?

Architecture/Engineering/Design, Articles, Construction, Featured Events, Real Estate, Tax Strategy & Compliance / By

Research & Development Credits are not just for scientists and software developers By Bradford G. Carlson; Paul J. Gerry, Jr., CPA, PFS; Martin E. Prendergast; Karen G. Timmermans, CPAGray, Gray & Gray, LLP If you think the Research & Development Tax Credits offered by the federal government are just for high technology, life sciences or computer

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Articles

What is an IC-DISC and How Could It Save You Tax Dollars?

Architecture/Engineering/Design, Articles, Construction, Emerging Business, General / By

By Derek B. Rawls, CPA, MSTGray, Gray & Gray, LLP American companies exporting goods – and certain services – may be able to enjoy significant federal income tax savings through a little-known instrument known as an interest charge domestic international sales corporation (IC-DISC). You do not need to be a huge exporter to take advantage

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Articles

Tax Court Revs Up Deductions for Promotional Expenses

Articles, Construction, General / By

It is important for to keep your company’s name consistently in front of the public, particularly in a competitive business environment. It can be helpful to be innovative in your marketing and promotional techniques, but where do you draw the line? In a recent case, the Tax Court upheld more than $160,000 in deductions over

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