AICPA

REDPATH INSIGHTS

• What Does ASC 842 Mean for Your Balance Sheet? – Redpath
  ASC 842 is a recent change to leasing standards that, among other things, requires companies to include leases longer than 12 months on their balance sheets. The ramifications of the new standard make it crucial for construction companies to get familiar with because it will likely negatively impact debt covenants with financial ratios.
• Construction Companies Might Be Eligible for an R&D Tax Credit and Not Even Know It
  What do you think of when you hear the term "R&D"? If you picture CAD drawings and beakers bubbling, you're not alone – but research and development means a lot more types of work than you may imagine. In fact, your construction company might be eligible for an R&D tax credit without even realizing it.
• IRS Employee Payroll Tax Deferral Guidance
  August 31, 2020 - On Friday, August 28, the IRS issued guidance on President Trump’s executive order allowing for the deferral of payroll taxes on wages paid after September 1. While the guidance clarifies some items, unanswered questions remain.