Subcontractors Top Accounting & Tax Tips For 2017 & Beyond

McKonly & Asbury’s team of construction experts will be presenting  at The American Subcontractors Association of Central Pennsylvania’s March Dinner Meeting, “Top Accounting & Tax Tips for 2017 & Beyond.” This dinner meeting will take place on Tuesday March 7th, from 5:00 PM – 8:00 PM at the Clarion Hotel & Conference Center. David Blain, […]

Backlog, Bonding and Profitability

Construction backlog expanded during the third quarter, according to Associated Builders and Contractors (ABC) Construction Backlog Indicator, which is great news following two quarters of declining backlog.  While this increase in backlog indicates that new construction is on the rise due to economic optimism, there continues to be stiff pressure on bottom line profitability. This […]

Keystone Contractors Association Releases 2017 Construction Forecast Survey Results

In  a press release issued in early January by The Keystone Contractors Association (KCA), KCA announced its results of its 2017 Construction Forecast for Pennsylvania. The results of the 2017 KCA Construction Forecast indicate that most of the commercial construction industry expect this year to be better than last year. The following are a few […]

Research & Development Credits for Construction and Engineering?

Yes, research and development (R&D) tax credits may also be utilized in your construction and engineering business for significant tax savings. Starting in 2016, the R&D credit became permanent and can reduce taxes, including potentially your alternative minimum tax. Many think that the “R&D” credit only applies to the type of work that takes place […]

5-Minute Focus on the New Leasing Standard

Accounting Standards Update (ASU) 2016-02, Leases is effective for private companies for fiscal years beginning after December 15, 2019.  If you have leases, the new standard will change your financial statements and disclosures, and may also introduce significant new processes within your organization to properly account for leases.  We have prepared the following 5 minute […]

The New Revenue Recognition Standard – Are You Ready?

Is your company ready for the new revenue recognition standard?   The new standard, FASB ASU No. 2014-09, is effective for non-public entities for annual reporting periods beginning after December 15, 2018. The goal of the new standard is to improve the consistency of requirements, comparability of revenue recognition practices, and usefulness of disclosures. If you […]

Improving General Contractor and Subcontractor Relationships with Technology

Technology is constantly evolving in all industries, including construction.  Technology is helping construction companies be more proactive with decision making through data analytics, more timely accounting information, and improved project management information.  As discussed in this article at, technology is also having a major impact on the general contractor and subcontractor relationship.  Specifically, technology […]

Industry Report: Site Preparation Contractors

This month’s Industry Report includes the metrics and common size information for Site Preparation Contractors. You already have your financial statements in hand, you know your metrics, now let us provide some information that will help you see how you compare to your competition. We have provided key financial metrics through 2016 for Site Preparation […]

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