The Impact of Ambiguity in Construction and Engineering Contracts for Energy Projects

A July 31, 2012 ruling by a federal district court illustrates the importance of using clear provisions in contracts for energy construction.  The case centered on a developer’s argument that its contract with an engineering firm contained a performance guaranty …

Guest Post: Treasury Issues Temporary Regulations Concerning Tangible Property Costs

This guest post was written by Alan Clark, CPA, a construction industry accountant at Smith, Adcock and Company.

The IRS issued Temporary Regulations in its current round of attempts to clarify when to deduct and when to capitalize tangible property …