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What is ‘Substantial Completion’ in Construction? Definition and Examples

Building Radar

Mechanics Lien or Bond Claims: The contractor’s deadline to file a mechanics lien or bond claim is also influenced by the date of substantial completion. Liability and Warranties The substantial completion date marks the expiration of certain liabilities and warranties.

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

Retention can be withheld on residential or commercial projects and on both public and private projects. Both retention accounts are shown as current assets and current liabilities, respectively. Plus, not recording retention payable leads to the understating of a company’s liabilities. Fariba Mehdian. View profile.

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How to Start a Roofing Business: 9 Tips to Grow & Thrive

Levelset

It’s an excellent time to consider starting a roofing company, as both the residential and commercial sectors are experiencing a wave of new construction, and that means opportunities for the roofing industry, which is expected to grow revenues by around 1% annually for the next five years. . Get clear on your customers.

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How to Start a Painting Business: 9 Keys to Growth & Success

Levelset

It’s an excellent time to consider starting a painting company, as both the residential and commercial sectors are experiencing a wave of new construction, and that means opportunities for painters. You’ll need a name for your business entity and a business structure — often a sole proprietorship or limited liability company (LLC).

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How to Start a Plumbing Business: 9 Tips for Growth

Levelset

It’s an excellent time to consider starting a plumbing company, as both the residential and commercial sectors are experiencing a wave of new construction, and that means opportunities for plumbing companies, which are expected to grow revenues by more than 1% annually for the next five years. Get clear on your customers.

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How to Start an Electrical Business: 9 Tips for Growth

Levelset

It’s an excellent time to consider starting an electrical company, as both the residential and commercial sectors are experiencing a wave of new construction, and that means opportunities for the electrical industry, which is expected to grow revenues by more than 1.5% annually for the next five years. . Get clear on your customers.

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State by State Incentives Guide

Buisness Facilities Contributed Content

If a business entity invests in a qualifying project that meets certain requirements and is approved by the Alabama Department of Revenue, and maintains minimum annual requirements, the company may receive an annual credit against its income tax liability generated from the qualifying project.

Income 108