Even before the COVID-19 crisis, construction technology was transforming the way contractors go about their business. Whether this transformation was happening rapidly or gradually is up for debate, but there’s little doubt that change was (and is) occurring. The pandemic will likely accelerate the technological (r)evolution as contractors look for ways to work more safely…
The COVID-19 pandemic is unlike any other crisis we have faced in decades. As contractors continue to work back toward normalcy, it’s critical to learn from recent experience and apply those lessons to preparing for the inevitable disasters and economic downturns of the future. Review Jobs, Backlog and Expenses Take inventory of current jobs and…
Classify Carefully The classification of workers as independent contractors or employees has significant implications — both tax and nontax — for all businesses. But this issue is particularly important for construction companies, given the widespread use of subcontractors in the industry. In recent years, the IRS has been cracking down on employers that misclassify employees…