Risk Management 101 for Contracts

It’s an all-too common scenario even for experienced contractors: relying on verbal conversations as a commitment for payment. It sounds simplistic, but too often I’ve seen situations in which contractors have agreed to change orders through a phone call or gotten verbal commitments from subs on scheduling. The contractor ends up losing if the customer …

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Business Strategy — Diversify or Specialize Services?

By Sean Kelly, CPA I learned about a company recently that has proactively developed a niche to physically lift homes to meet current hurricane-proof standards. Based on a federal grant for homeowners, the construction company is tapping a need that has meant growth for its business as well as a benefit to residential customers. This …

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New York ‘Works Around’ Tax Cuts and Jobs Act of 2017

On the surface, high tax states such as New York seem to be hardest hit by a new limitation on the State and Local Tax (SALT) deduction. For previous tax years, taxpayers had the ability to write off all of their SALT payments against their ordinary income. This deduction has now been limited to $10,000 …

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Client Corner: Swezey Fuel

Swezey Fuel is the largest family owned full-service fuel oil company in Suffolk County. Founded by Nat Swezey in 1918, the company sold feed for horses before purchasing Dayton Hedges Coal and Feed Co. in 1921. This year, Swezey Fuel celebrates its 100th anniversary as a family-owned business. They kicked off the celebration with a customer …

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