A small IT government contractor in Virginia thought they had their finances in order—until a DCAA audit revealed indirect rate miscalculations. Their overhead costs were too high, making them uncompetitive for new bids, while improper cost allocations led to...
For many government contractors, working with an accountant is about one thing: staying compliant. And while compliance is critical especially when it comes to DCAA, FAR, and CAS it’s only part of the picture. The truth is, financial strategy and compliance go hand...
If you’re a government contractor with a cost-reimbursement contract, then you’re probably familiar with the Incurred Cost Submission (ICS) or at least you’ve heard the term. But despite its importance, many contractors treat ICS filing as an afterthought. The result?...
Imagine this: You’ve landed a lucrative government contract and everything is going smoothly—until you receive a notice for a DCAA audit. Suddenly, you’re scrambling to prove your accounting system, cost structures, and labor reporting are compliant. If your records...
Running a small business in Massachusetts isn’t cheap. Between high rent, rising labor costs, and ever-changing tax regulations, staying profitable requires careful financial planning. But here’s a question: Are you taking advantage of every tax break available to...
