The EFA Company Blog
Failing to Properly Complete Form I-9 for Foreign Workers Can Be Costly
In recent years, the U.S. Immigration and Customs Enforcement (ICE) agency has focused its attention on construction companies and other businesses that rely heavily on foreign workers. And the agency [...]
Should You Reconsider Your Entity Choice?
The Tax Cuts and Jobs Act (TCJA) slashed federal corporate income taxes from a top rate of 35% to a flat rate of 21%. As a result, many construction company [...]
Lock Down Financial Assets with the Right Controls
You’ve got a fence around the jobsite. Your heavy equipment is turned off and the keys stored securely. Your materials are tied down and, where possible, kept out of sight. [...]
Focus on Collaboration: The Estimator’s Changing Role
Technological innovations and other recent developments are rapidly altering the job of the estimator in construction. Estimators are taking on a more collaborative, value-added role — enabling them to have [...]
Are you ready for the new revenue recognition standard?
It’s been eight years since the Financial Accounting Standards Board (FASB) first proposed an overhaul of its revenue recognition standard and four years since it issued the new standard. Now [...]
Leverage Fringe Benefits to Reduce Costs
Construction is a highly competitive industry in the private sector. But when it comes to public projects, winning a job can be even more cutthroat. That’s because government jobs are [...]
Additional Insured Provision in Subcontracts Doesn’t Guarantee Protection
Construction subcontracts often contain “additional insured” provisions. This legal language requires a subcontractor to name the owner, general contractor (GC) and higher-tier subcontractors (if applicable) as additional insureds under the subcontractor’s commercial general liability (CGL) policy. These [...]
Exploring the Many Facets of an ESOP
Most construction company owners want to retire someday, and just about every contractor is looking for ways to improve employee engagement and retention. One ambitious and somewhat complex way to [...]
3 Tips for Dealing with Design Issues
Traditionally, a contractor’s role is to build — that is, to implement a design created by an architect or other design professional. But given the vagaries of the industry, it’s [...]
Dig Deep to Determine the TCJA’s Total Impact
The passage of a new tax law in December was intriguing news for most construction company owners. Now that the dust has settled, let’s take a look at some of [...]