PWCPA Blog
What to Do If You’re Not Ready for the Tax Deadline
Most people don’t intend to fall behind on their taxes. It often happens when the tax deadline sneaks up on them, and far too soon, they find themselves scrambling to not only pay their tax debt, but the compounding fees and interest as well. This can cause the debt...
Unlocking Success in Government Contracting: Tips for Breaking In
Breaking into the world of federal contracting may seem daunting, but with the right approach and guidance, it is an attainable goal. As specialized accountants working with government contractors, we understand the dedication and effort required to secure that first...
Unraveling Unallowable Costs for Government Contracts
Allowable costs are expenses that the government deems necessary, reasonable, and directly related to the contract. In contrast, unallowable costs are expenses that cannot be reimbursed or included in the cost base of a government contract. Negative consequences can...
FY23 NDAA: Inflation Relief for DoD Contractors
Understanding the provisions mentioned in the FY 2023 NDAA is essential for small and large government contractors to benefit from contracting opportunities and uphold compliant systems. President Biden signed the FY23 NDAA into law in December 2022, providing $816.7...
Unleashing Opportunities in Government Contracting: A Pathway to Lucrative Contracts and Streamlined Accounting Compliance
Government contracting presents a world of potential for ambitious business owners seeking high-paying and consistent contract work. With federal and local governments serving as major buyers of goods and services, contractors who establish strong relationships and...
Important Update: Accelerated Payments for Small Business Contractors & Subcontractors
On February 14, 2023, the Department of Defense (DoD), the General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA) issued a final rule to amend the Federal Acquisition Regulation (FAR) to provide for accelerated payments to...
Let’s Talk About CUI Compliance: What Every Contractor Needs to Know
In today's digital age, cybersecurity is of utmost importance, particularly for those who do business with the government. As a government contractor within the Defense Industrial Base (DIB) or someone who handles CUI, you must comply with the regulations and clauses...
Signs That It’s Time to Outsource Your Business’s Bookkeeping
When you’re just starting out with building your business, it’s not uncommon to manage your own accounts. After all, when you’re the only employee, you only have a handful of clients paying you each month, and you only have one account to keep track of, bookkeeping...
Important Compliance Tips for First-Time Government Contractors
If you run a contract-based business, breaking into the field of government contracting can be a lucrative source of new income that can really help your business grow and thrive. However, government contracting also comes with a great deal of compliance requirements...