Construction & Real Estate Resources
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The main goal of ASC 606 was to create a similar revenue recognition policy and calculation across all industries. The construction industry, which has historically had its own guidance and industry practices, is no exception.
In recent years, governments have used tariffs as a form of protectionism. In 2018, the United States government began imposing tariffs on steel, aluminum and lumber from a number of countries.
Success in the construction industry requires the ability to cost effectively create a building envelope, structure or support system and virtually every financial decision regarding your construction company, has a tax consequence.