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QUESTION:    ISN'T THE GOVERNMENT'S FORM I-9 JUST MORE RED TAPE IN THE HIRING PROCESS?   ANSWER:        THAT GOVERNMENT RED TAPE FOR EMPLOYMENT ELIGIBILITY VERIFICATION COMES WITH STICKY PENALTIES FOR EVEN HONEST MISTAKES! Employers need to properly complete I-9 forms for required employment eligibility verification. Even if you never have any unauthorized workers in your workforce, your company may be fined big money for technical mistakes in your form I-9 record keeping. The ICEman Cometh…with Big Penalties!      I-9 form audits by Immigration and Customs Enforcement ("ICE") are increasing. Simple ...
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Borrowing Base Calculations for Construction Companies We recently came across an interesting thread on  CFMA’s Connection Cafe  about  “ Borrowing Base and Billed Retention .” Since so many construction businesses rely on commercially-sourced financing to fund their working capital cash requirements, we thought we’d explore the borrowing base topic a little further. Taking on new projects or jobs places a large cash burden on construction companies, particularly for subcontractors that are forced to “float” the project costs up front. Since the amount of cash needed will vary from day-to-day (based on the cash flow of the individual project, ...
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What does great leadership mean to you? At our March quarterly meeting held on March 15, we had the opportunity to participate in an interactive workshop, led by Dr. Danielle Crough, where we examined what great leadership looks like. The primary emphasis of the workshop was to examine leadership through the eyes of followers, as was demonstrated by the title of the meeting: "Want To Be A Better Leader? Think Like A Follower." Through the interactive workshop, we discussed the concepts with other attendees and reflected on how to apply those to current projects or leadership situations. We also discussed leadership myths, shared leadership books, and discussed ...
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Is Preliminary Notice Required in My State? Some states require that contractors and material suppliers send preliminary notice in order to preserve their ability to file a mechanics lien . Preliminary notices come in all shapes and sizes, and they have different names, including pre lien notice , notice to owner, notice to contractor, notice of furnishing , 20 day notice , and more . We provide more information about preliminary notices, including forms, frequently asked questions, and state-by-state requirement maps, on our preliminary notice homepage. A preliminary notice is different from a notice of intent to lien . ( Click here to ...
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Connection Cafe Want to build a better Foundation for Success? Join me at CFMAs 2017 Annual Conference & Exhibition in Phoenix. Dont miss your chance to register at the early bird rate! Visit www.cfma.org/conference fo
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From Albuquerque member Bobbi Hayes - BHayes@rpcllp.com The state personal property tax division in Santa Fe is interpreting the following clause as requiring that a construction contractor prorate every piece of equipment used by the time spent in any taxing jurisdiction in New Mexico for the 2017 personal property tax reports being filed, as opposed to a piece of equipments specific location on the measurement date (1/1/17). There were regulations that were modified during 2016 (see attached). So, if you had an excavator that was moved from county to county during the year, you are supposed to be tracking it to allocate the value. Anyone else run ...
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Is Preliminary Notice Required In My State? A List of Notice and Non-Notice States Some states require that contractors and material suppliers send preliminary notice in order to preserve their ability to file a mechanics lien . Preliminary notices come in all shapes and sizes, and they have different names, including pre lien notice , notice to owner, notice to contractor, notice of furnishing , 20 day notice , and more . We provide more information about preliminary notices, including forms, frequently asked questions, and state-by-state requirement maps, on our preliminary notice homepage. A preliminary notice is different from a notice ...
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The word February is derived from the Latin word Februarius, from the Latin februa meaning to Purify or to Explate (unfold). In ancient Rome, this was the month of purification, and people dedicated their time to living honorably, being virtuous. February was actually the last month of the year, and February 5th marked the first day of spring, a time of new beginnings. We make our New Years Resolutions on January 1st and by February 1st, many of us have not only fallen off the path we set, but have forgotten what our resolutions actually were. Some people have stopped making them altogether. For many ...
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If you've ever had malware on a computer, you've probably just called IT and they've cleared it off your PC. So did you find out how the malware happened to successfully infect your PC? Is it infecting other computers in your network? Cybersecurity should be handled differently than your typical support ticket. If you don't learn from each incident, you'll likely have more problems. In a recent article in Networld World, How to Practice Cybersecurity , the author Lior Div points out that " Practicing cybersecurity begins with security teams changing their mindset around how they handle threats. ...need to be encouraged to not quickly close ...
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Note : The is an 'oldie but goodie' blog post by zlien CEO Scott Wolfe originally published in May 2013. ---- Let me introduce myself: My name is Scott Wolfe, and Im an attorney . I have first hand knowledge about everything that is wrong with Americas legal system, but so do you. Thats because whats wrong with the law is all around you. Just look at recent news reports. The recent IRS scandal and scandal involving wire-tapping of the AP journalist is putting the problem under the spotlight. You may think these scandals are about politics or political perspective, but you would be wrong. The scandals are about law. Specifically its ...
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The Miller Act was passed to provide an opportunity for subcontractors and suppliers to recover for unpaid labor and material on federal projects, since mechanics liens cannot be filed against public property. For federal projects where the prime contract exceeds $100,000, the Act requires that general contractors provide performance bonds and a payment bond sufficient to cover the entire amount of the prime contract. In order to recover for nonpayment, protected parties must file a claim against the general contractor and surety under the payment bond. To establish an enforceable claim, a subcontractor must first show that payment is owed. After establishing ...
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On December 7, 2016, members of our Siouxland CFMA chapter gathered for our final meeting of the 2016 year. We had two great speakers presenting, and followed those presentations with our annual holiday social with networking, excellent hors d'oeuvres, and a few drinks. Our first speaker was Derek Martisus of Marsh & McLennan Agency. Derek came all the way from Burlington, VA to present to the group on small captives. A captive is very simply an insurance company owned by a non-insurance parent. Derek educated the group on the types of organizations and applications where a small group captive may be advantageous, particularly because of the 831(b) tax election. ...
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The construction industry has rebounded over the last few years and more growth is forecasted in 2017 . That is, so long as the construction workforce can supply enough labor to meet growing demands. Employment issues aside, the construction industry can confidently expect a boom to at least one sector: infrastructure. By electing Donald Trump , the country has committed itself to serious spending in this area. Surety Bonds on Public Projects Chief among the differences between public projects and private ones is the requirement of surety bonds on public projects. In order to protect public funds and the subcontractors and suppliers on public projects, ...
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Did you know that 91% of successful data breaches started with a spear-phishing attack ? "There is a phishing attack going on you need to know about. The campaign sends an email with the subject: "Assessment document" and the body of the email has a PDF attachment in it that claims that it is locked. The message reads: "PDF Secure File UNLOCK to Access File Content". If you click to unlock the document, a dialog box comes up that asks you to put in your email address and password. If an email like that makes it into your inbox, do not click on anything, and definitely do not enter your email address and password. Follow the ...
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On December 13th, our chapter leadership met for an end of the year wrap up meeting. We discussed our many successes over the last few years since chapter inception, and we brainstormed about future opportunities. We are committed to growing our chapter, and we've set our sights on earning the CFMA Chapter of the Year Award in 2017. There are many ways that our members can help us achieve our goals: 1. Attend meetings regularly and participate in the discussion 2. Invite colleagues to join the chapter and attend events 3. Volunteer on a chapter or national committee 4. Provide feedback on what topics you'd like covered at our meetings 5. Suggest relevant ...
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Season Greetings, Our next quarterly meeting is fast approaching on Wednesday, December 7th. We have a couple of great speakers lined up again. Derek Martisus will be educating us on the uses of a single parent captive for middle market companies. James Spellos will be presenting on Hot Technologies 2017: Its Virtual & Wearable, But Are You Secure?. If you have not already signed up, please do so as soon as possible. As 2016 comes to an end and we wrap up another great year we also look forward to 2017. We have had many great programs, some awesome job site tours, prepared lunches for Lunch is Served and had a successful golf tournament to ...
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The new rule was to take effect on Dec. 1 and would extend mandatory overtime pay to more than 4 million workers from taking effect, imperiling one of the outgoing president's signature achievements for boosting wages. Read the New York Times article here: http://www.nytimes.com/2016/11/22/business/obama-rule-to-expand-overtime-eligibility-is-suspended-by-judge.html Read the Reuters article here: http://www.reuters.com/article/us-usa-employment-overtime-idUSKBN13H2JY Read the Wall Street Journal article here: http://www.wsj.com/articles/overtime-pay-rule-to-go-into-effect-but-may-not-last-147981061
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ANSWER: ILLUSTRATED CONTRACTS MAY NEED TO GO BACK TO THE DRAWING BOARD. A Sketchy Idea? Cape Town attorney Robert de Rooy is credited in the July 14, 2016 Cape Times for developing "the world's first contract using pictures." The idea is that cartoon comics will help people understand the contracts they are signing. "Comic Contracts uses visualization, where the parties are represented by characters, and illustrations to explain the terms of the contract." Mr. de Rooy said that he worked on the idea of Comic Contracts for three years. He felt that contracts often fail to create good relationships between the ...
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ANSWER: HEAVEN HAS NO RAGE LIKE LOVE TO HATRED TURNED. As William Congreve noted in The Mourning Bride in 1697, ex-lovers can turn mean. Emotions can cloud judgment, but $7.1 million in sanctions resulted from very obscured judgment. Ex-Lovers Feud Over Billion Dollar Business! The founders and co-owners of TransPerfect Global, an electronic translation service and litigation support service, are fighting for control of the business. Philip Shawe and Elizabeth Elting started TransPerfect in the dorm room they shared in 1992. They got engaged, but Liz eventually called off the marriage. The relationship deteriorated. As Judge Bouchard ...
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At our September quarterly meeting, held on September 14, we had the privilege of hearing two excellent speakers presenting on topics very pertinent to our members. Joe Stoddard of Eide Bailly began the meeting with a presentation on the Research & Development Tax Credit. This credit became permanent in December 2015. Joe explained how this is an incremental credit that is non-refundable at the federal level, but is refundable in the state of Iowa. He gave a brief description of the qualifications for the credit, which include: New or improved business components and 4 Part Test Permitted purpose Uncertainty Experimentation Technological ...
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