Reading Time: 8 minutes Although 2020 has become a popular punchline, it was filled with tragedy and stress for many business owners. As we begin to approach normalcy, many businesses remain focused on post year-end guidance detailing how to account for the consequences of the pandemic and subsequent fiscal response from the federal and state governments, which will.
Reading Time: 7 minutes What do Family Feud hosts and DCAA have in common? They both use surveys to find the best answers. While Steve Harvey exclaims “Survey says!?” during the hit game show to see if a contestant has found the best answer to a question, DCAA uses the Pre-Award Survey to determine whether a contractor has found.
Reading Time: 7 minutes Although government contracting work is often considered low risk, this industry is not without risk as many contractors experienced at the beginning of this year. December 22, 2018 marked the first of 35 days in the partial government shutdown, by far the longest government shutdown in recorded history. Nearly 800,000 federal workers and.
Reading Time: 4 minutes In late 2017, Congress introduced the Tax Cuts and Jobs Act (TCJA), which affects 2018 taxes. According to Section 199A of the TCJA, some owners of pass-through entities could be eligible for a substantial deduction of up to 20 percent of their taxable income. Here, we will cover the new deduction, as well.
Reading Time: 3 minutes For most of us, June is a time for rejoicing! The pool is open, school is almost out, your summer vacation is on the horizon and you can’t wait to tear open that new bag of charcoal for Saturday afternoon’s cookout. However, if you are a government contractor with a December 31st year end,.
Reading Time: 2 minutes As consultants and business advisors to companies in the government contracting arena, we are often asked by our clients: “How are we doing?” These clients are well aware of their profitability, their backlog, and the challenges that they face. What they want to know is how they compare with their competition and how.
Reading Time: 3 minutes One of the unique burdens for many businesses contracting with the federal government is the requirement to prepare and submit an incurred cost submission (ICS) within six months after the close of the fiscal year. This requirement is mandatory for contractors providing services on cost plus type contracts in excess of $25,000 and is frequently.