PWCPA Blog

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...

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...

In the world of government contracting, accounting isn’t just about numbers, it's about readiness. Too often, contractors wait for an issue before addressing weaknesses in their accounting systems. But by then, it’s usually too late. A missed deadline, a failed audit,...

Running a small business in Dracut, MA comes with its own unique financial challenges. Between fluctuating seasonal demand, high operating costs, and the need to stay compliant with Massachusetts tax regulations and DCCA accounting requirements, keeping your business...

For many government contractors, compliance is seen as a box to check  a necessary but often burdensome part of doing business with the federal government. But what if your accountant did more than just keep you out of trouble? What if your back office actually became...

Imagine this: You're a business owner juggling sales, operations, and customer service, only to realize you missed a major tax deadline or miscalculated your cash flow. These mistakes don’t just cause headaches; they can cost you thousands in penalties, lost revenue,...