From category archives: Boulay

Construction

Construction Fraud: Corruption

Fraud, a five letter word that keeps some business owners up at night. For others, it is a five letter word that never crosses their mind until it happens to them. As constructions contracts have been growing in size and complexity, a contractor’s time is likely spent trying to manage the contract, rather than devoting time to preventing fraud. No business is perfect, and fraud can occur even at the most vigilant companies. What many business owners fail to realize is that fraud is more than just people stealing your money or supplies.

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Better Watch Out! Construction Fraud Can Hurt Your Bottom Line

In its 2014 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners (ACFE) estimated that a typical organization loses 5% of its revenues to occupational fraud each year. When it comes to construction, the ACFE found that the median loss suffered due to fraud schemes was in the neighborhood of $250,000.

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Build Your Bonding Capacity With a Solid Foundation

A high bonding capacity is something for which just about every contractor strives. Getting the necessary underwriting from a surety gives a construction company the freedom to bid on jobs well suited to its strengths—not to mention bigger projects with greater potential for profitability.

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Are Your Contracts Choking Your Cash Flow?

Construction contracts—or, rather, the language therein—can start choking cash flow before work even begins. This article looks at some points to consider before signing on the next dotted line.

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Strength In Numbers: Why Audited Financial Statements Matter

Sound, trustworthy financial statements are key to any construction company’s success. That’s why every contractor should at least consider investing in audited financial statements.

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New Tangible Property Rules Influence Real Estate and Construction Industries

Finance and Commerce published an article, "New tangible property rules offer industry tax opportunities," by Greg Margarit, CPA and Boulay Partner. Click on the pdf below to read the full article.

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MN Sales Tax Update: Revised Repair Labor Fact Sheets

The State of Minnesota enacted changes to sales tax law that became effective July 2013, which included a requirement for service providers to collect sales tax on repair labor performed for businesses.

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