Every business is required to choose an accounting method to report income and expenses. Two options that cater to businesses working on long-term projects, such as construction and engineering firms, ...

Contract jobs can vary considerably in length. The day of completion for a contract job oftentimes requires extension for a variety of reasons. The completed contract method allows you to delay ...

Certain construction contractors may be eligible to use the cash or completed-contract method of accounting for regular income tax. However, these taxpayers may also be liable for alternative minimum ...

Construction companies and contractors can choose among several accrual accounting methods specialized for their industry. They can also use cash accounting. If they choose accrual accounting, they ...