PWCPA Blog
A Government Contractor’s New Year Resolution
The Year of the Rabbit is here; 2023 is now upon us. With a little luck and a lot of hard work, you can make this the best year for your budding government contracting business. For a little fun, here are some New Years' resolutions you can choose to do this new year....
Outsourcing Your Accounting for Government Contracts
You have found your niche and have done your research. You have mastered your field and made a decision between a sub or prime contractor. You know where to look for contracts and how to structure your bids. Your software is now ready. What are you missing to get...
What Government Contractors Should Know about Schedule K-1s
Government contractors and all types of business owners have incredibly complex tax returns when compared to individuals whose sole source of income is recorded on a W-2. As a business owner and contractor, you likely receive a variety of income tax forms, including...
How to Deduct Mileage Driven for Business Purposes
Business owners often have to drive to meet with clients, attend networking conventions, and perform other important tasks to help their business grow and thrive. Of course, it’s no secret that driving can cost you a great deal of money; not only is there the cost of...
Tax Deductions for Your Home Office
Using part of your home as a long-term business space, you may be eligible for the home office deduction. The pandemic forced a lot of employees to go and work from home. With time on their hands and some stimulus checks on the other, many have actually ventured into...
Giving Gifts May Be Tax Deductible
It's beginning to look a lot like... Yes, the holidays are here, and you, as part of your company's management, you want to put in good cheer for your employees. Aside from the office holiday party, you also want to give them a token or two to show how you appreciate...
Why You Should Meet with Your Accountant before the End of the Year
In addition to the normal holiday rush, business owners also have to deal with a lot of end-of-year tasks that can make this time of year quite stressful. However, as you’re closing out your books and attending to all those other end-of-year duties, it’s important...
Government Contracting: Setting Up Your Business for Success
Exploring the vast opportunities offered by the U.S. government as the largest buyer of goods and services can significantly boost your business revenue. However, before diving into online contract searches and bids, it's crucial to establish a solid foundation for...
Government Contracting Procurement Methods
The world of Government Contracting can be very confusing. Together with its hundreds of rules and regulations are the acronyms. Let's go through four of the primary and common procurement methods that are governed by the Federal Acquisition Regulations (FAR); these...
