PWCPA Blog
Retirement Age Is On The Rise
The retirement age has been increasing since 1935 when it was set by Congress at 65. It is currently 67 years old and is likely to continue rising as the Baby Boomer generation begins to retire. What does this mean for individuals planning to retire and collect Social...
The 5 Areas of Regulation for Federal Contractors
Getting started in Government Contracting is not easy. Aside from the massive difference from a private business, there are the rules of compliance that companies need to abide by to the letter in order to start, keep working on, and finish a government contract. Not...
Time and Time Reporting Ideas
Government Contract Accounting and 7 Top Practices for Time and Time Reporting Time and time reporting is one of the main ways that government contractors get their revenue and profits. Making a mistake with time and time reporting may have negative effects on their...
How to Provide Wrap Rates for Government Contracts
A Look at How to Provide Rates for Government Contracts Your COA, or Chart of accounts, is your company's financial blueprint-- containing all your financial transactions in a given year, broken down into meaningful categories. It helps you organize finances and can...
Why Your Business Needs a Budget Plan
What is common to every business when starting up? A plan. All businesses start out with one. Where to place the office, what equipment to buy, sales/service strategy, and of course-- a budget plan. Your business budget is: The state of your current finances Expenses,...
Understanding Provisional Billing Rates for Government Contractors
Working as a government contractor involves navigating a host of regulatory requirements—and learning all the acronyms that go with them. One of those acronyms is PBR, or Provisional Billing Rate. PBR is a critical step for contractors with cost-reimbursable and Time...
How Your Corporate Transactions Could Impact Pending Bids
Recent decisions made by the Government Accountability Office (GAO) and the US Small Business Administration’s (SBA) Office of Hearings and Appeals (OHA) may affect how your corporate transactions influence your eligibility for a government contract you’ve recently...
The Normal Age for Retirement Is Rising
The average retirement age is on the rise, and we don’t just mean the age at which people are choosing to stop working; we’re also referring to the “normal” retirement age set by Congress for the Social Security program. In 1935, the normal retirement age was 65. That...
Government Contractors to Pay $6.85 Million in Settlement with DoD
In a recent development in the field of government contracting, a group of freight carriers contracting with the US Department of Defense (DoD) has agreed to pay $6.85 million after deliberately overcharging the DoD for seven years. While this is obviously a very...