Category: Construction

Construction projects are inherently fraught with risk. That’s why having the right insurance in place is critical for all parties involved. For contractors, however, adequate coverage typically comes at a high price and with abundant red tape when dealing with insurers. O...

At some time or another, construction company owners must hang up their hard hats. But what will happen to your business when you retire or move on to the next professional opportunity? And what if you suddenly can’t work for an extended period, because of illness or injur...

Construction companies can leverage loans, lines of credit and other such products to help ensure positive cash flow, build creditworthiness and fuel business growth. But the options can seem limitless and overwhelming. Here are seven questions to discuss with your leadershi...

When you go to the doctor, the first thing the medical staff likely does is check vital signs such as your temperature and blood pressure. They do so because, if any of these measurements are outside the norms, the doctor may need to elevate your level of care....

Construction businesses can save time and avoid hassle by maintaining an inventory of critical materials and supplies. But managing that inventory for tax purposes can be challenging....

Fraud is costly for all victimized companies, but it’s even worse in the construction sector. According to the Association of Certified Fraud Examiners’ Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse, construction companies affected by fraud los...

On Wednesday, March 25, 2020 Governor Tim Walz issued Executive Order 20-20 ("Stay Home Executive Order") directing Minnesotans to stay at home and limit movements outside their homes beyond essential needs for two weeks.  The Executive Order is in effect for two weeks begi...

At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to researc...

Cloud computing — storing data and accessing apps via the Internet — has been widely adopted by businesses across industry and size. Like many technological advances, though, new derivatives continue to emerge — including so-called multicloud computing. ...

Lapping schemes are one of the most common ways crooked employees skim money from their employers. In these schemes, a perpetrator uses receipts from one account to cover theft from another. Here’s what lapping looks like and how you can help prevent it....

The Minnesota Legislature recently passed a tax bill that conforms or partially conforms several Minnesota tax laws to changes made under prior Federal tax bills. Below is a link to a listing provided by the Minnesota Society of CPAs (MNCPA) of the items that now conform or...