D&M Construction Industry Newsletter

May 2023

Attracting and Retaining Talent in the Construction Industry

The demand for labor is one of the most difficult issues businesses are facing. The construction industry estimates hundreds of thousands of workers will be needed to fill open positions. How can your company attract top talent in the field while also retaining your key employees? In this article, I will offer tips to attract and retain skilled workers.

Your Construction Company May Be Able To Claim the Fuel Tax Credit

Purchasers of taxable fuel often use it for nontaxable purposes. For example, construction businesses use gasoline, undyed diesel fuel or undyed kerosene to run off-road vehicles and equipment. Contractors can recoup taxes paid on nontaxable fuel use by claiming the Fuel Tax Credit. This article explains the essentials of this credit and how much your company could save.

Prepare for Project Delays With Savvy Financial Strategies

No matter how well planned, construction projects don’t always go as anticipated. A job that looks sunny on paper can turn into a hot mess if it experiences serious delays. This article discusses how recognizing common risks and preparing savvy financial strategies can help a construction company avoid disaster if a serious slowdown occurs.

The Essentials of a Subcontractor Prequalification Process

As a general contractor, failure to thoroughly vet subcontractors can result in diminished profits and can damage your reputation. Issues including delays, budget overruns and substandard work quality can be hard to overcome. One of the most effective ways to reduce subcontractor risk is to implement a prequalification process. This article will explain how.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders, and we are actively involved with our construction clients and the many organizations affecting their businesses. We go beyond our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Because of our comprehensive familiarity with all aspects of construction, we’re able to assist you in business planning and long-term goals, all while resolving your daily operational needs to maximize cash flow.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street #1, Auburn, NY 13021

220 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

To learn more about Dannible & McKee, visit us at: www.dmcpas.com.