Levelset

APRIL 28, 2022

In addition, SubGuard does not provide protection against mechanics liens from unpaid second-tier subs and suppliers. If a subcontractor defaults on a project, the general contractor can make a claim with the insurance company to cover costs above their deductible and any loss reserve requirements. Who pays for claims.

Insurance 52

Insurance Contractors Claims ABC 52

Levelset

APRIL 7, 2022

Shady, fly-by-night contractors will promise customers the world — and they hide the fact that they can put a lien on the owner’s home. They’ll collect a few checks, perform shoddy work, and then file a lien when the customer doesn’t pay. It’s also important to educate your customer about mechanics liens. Be responsive.

Contractors 52

Contractors Lien Education Housing 52

Levelset

AUGUST 16, 2022

The surety is also likely to explore a contractor’s payment history on past projects — an inability to make on-time payments to subcontractors and suppliers can increase the risk of mechanics liens or bond claims. . It is also helpful to provide the surety with a cash flow projection for the project.

Risk 52

Risk Cash Flow Construction Banking 52

Contractor Bookkeeping

JUNE 20, 2014

We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes.

Insurance 48

Insurance Construction Accounting Claims 48

Contractor Bookkeeping

JUNE 15, 2012

We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes.

Contractors 48

Contractors Insurance Claims Lien 48

Contractor Bookkeeping

JANUARY 2, 2015

Get Organized - We strongly recommend a Subchapter S-Corp for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes.

Construction 48

Construction Insurance Accounting Claims 48

Autodesk Construction Cloud

DECEMBER 18, 2021

And that 10% loss doesn’t even factor in the costs associated with claims that can come from prolonged payment disputes. Delays are common at the last minute during the closeout process, simply because vital plans and data are missing, papers need to be tracked down, or un-finished change orders suddenly turn into actual claims.

Change Orders 52

Change Orders Documentation Equipment Risk 52

Levelset

OCTOBER 19, 2022

To identify areas where systems might be strengthened for prompt invoicing and increased cash flow , think about talking with an outsourced CFO. Restructuring a few crucial financial processes can help construction companies overcome many cash flow-related financial problems. Failing to protect lien rights.

Contractors 98

Contractors Lien Construction Finance 98

Levelset

MAY 25, 2022

In fact, Levelset’s 2022 Cash Flow & Payment survey results indicate companies working on public projects are more likely to report slow payment and payment problems than those on private projects. If payment problems come up, contractors file claims against this payment bond — not the property itself.

California 52

California Claims Lien Contractors 52

Levelset

FEBRUARY 14, 2022

Not only does retainage make it harder for a construction business to manage cash flow — simply recording the transaction can be a feat. As a result, the deadline to file a mechanics lien for retainage also differs from regular payments, as does the deadline under Prompt Payment rules. Fortunately, Levelset makes it easy.

Contractors 52

Contractors Accounting Cash Flow Lien 52

Buisness Facilities Contributed Content

MARCH 21, 2014

The program is capped at 10,000 new jobs being claimed each year by all participants; whereas a taxpayer is limited to a maximum of 400 new jobs per year. The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. time permanent jobs paying above average wages.

Income 75

Income Finance Zoning Equipment 75

Buisness Facilities Contributed Content

APRIL 15, 2014

State Credits available against the Corporate Income Tax: Education Credit (AS 43.20.014): Taxpayers that contribute to vocational education programs or accredited Alaska universities or colleges for educational purposes or facilities may claim a tax credit for 50% of the first $100,000, 100% of the next $200,000, and 50% of further contributions.

Income 108

Income Finance Zoning Employment 108