An Unconditional Lien Waiver is a document in which a contractor or subcontractor agrees to waive all current and future lien rights against a property owner's estate, irrespective of payment status. This waiver offers security for property owners against any claims.
Properly managing certificates of insurance is crucial for construction companies to reduce financial and legal risks. Learn how to handle general liability, auto liability, and workers' comp coverage, and keep your projects compliant and on track with these best practices.
Read MoreThe U.S. is seeing a sharp decline in accounting degrees, leading to a talent shortage in the profession. With fewer graduates and a growing demand for skilled accountants, outsourcing services like RedHammer offer businesses an efficient solution to maintain their financial health and operations.
Read MoreA well-structured Chart of Accounts is crucial for construction companies. This guide covers best practices, including categorization of costs, job costing integration, retainage, and WIP accounts. Streamline financial reporting, enhance project management, and maintain compliance with industry standards.
Read MoreThis guide helps construction companies navigate 1099 reporting, covering IRS mandates, vendor classification, and the use of third-party software to streamline the process. Learn how to stay compliant, manage subcontractors effectively, and avoid costly penalties.
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