Legislative News for Contractors
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What you want to know about the new residential property market legislation in Florida
The latest from our Florida Legislature by Carol Bowen, JD I Chief LobbyistAssociated Builders and Contractors of Florida & Vice President of Government AffairsAssociated Builders and Contractors Florida East Coast Chapter. What Happened In Tallahassee This Week?The Legislature returned to Tallahassee this week with the sole purpose of addressing the current situation and circumstances of
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U.S. Army Corps of Engineers New Orleans Industry Day
It is the “Golden Age of Funding for the Corps” and Emily Golecki and Sarah O\’Linn were honored to support the U.S. Army Corps of Engineers New Orleans Industry Day and hear about the unprecedented infrastructure opportunities first hand. Mississippi Valley District is exceeding their small business set-aside contracting goals and Dave Willis (pictured, center) and the New Orleans
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Planning for 2021 Taxes: What Contractors Need to Know
BY DAVID V. JEAN WHEN TAX TIME rolls around, contractors often feel like the deck is automatically stacked against them. But the right tax planning strategy helps to ensure the House, in this case the IRS, doesn’t catch you off guard. These tax benefits could help you save a substantial amount of money. Contractors should consider several
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Retainage and Prompt Payment Statutes
Don’t let the Public Owners hold your money! Don’t let the Public Owners hold your money! Some Florida Municipalities may not know that the amount of the allowable retainage was changed effective October 1, 2020. The links to the appropriate statutes are listed as a Resource on the Florida Surety Bonds website. Retainage being held
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New accounting requirements for leases take effect
We recently learned from Withum, CPA\’s that the Financial Accounting Standards Board long anticipated new accounting rules for leases is now in effect for nonpublic companies whose fiscal year began after December 31, 2021. In simple terms, most every lease for lessees will no appear on a company\’s balance sheet. The present value of all
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Construction Industry: Will Bid Prices Catch up with Material and Labor Cost Increases?
The November 2021 AGC data shows there’s been an alarmingly large gap between construction input inflation and bid price inflation since April 2020, but it appears the bid price inflation is finally gaining ground. The bid price inflation rate sharply rose from 2.8% in May 2021 to 12% by October 2021. Industry analysts expect bid
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Say Hello to the Newest Member of the FSB Team
Meet Jaxon! His mom, Account Manager Jenna Delgado, is already teaching him that a good smile goes a long way. We are so happy to have Jenna back! She survived her first week back in the office and away from Jaxon. Need a Bond? Give us a call today (407.786.7770). It may not be Jaxon
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Bidding Publicly Funded Work? Here\’s what you need to know BEFORE bidding.
With the new $2.3 trillion US infrastructure spending proposal and the $1.52 trillion 2022 discretionary spending proposal submitted to Congress there will be more contractors looking to take advantage of upcoming opportunities. If public work is new to you there is a lot to consider before bidding – bonding is one of them. Florida Statutes
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5 Elements of Contractor Failure, by Liberty Mutual Surety
Liberty Mutual Surety provided a great visual breakdown of common factors that lead to contractor failure. They got this data through evaluating a sample of contract surety claim matters over a 10-year period. Elements were identified at the time of the claim and are listed by frequency; there are many cases in which multiple elements
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