How Working with Nonprofits is Beneficial for Design Engineers (or Professional Services Firms)

   It is literally true that you can succeed best and quickest by helping others to succeed.” - Napoleon Hill

Choosing any professional for a job is never easy. Most people don't know exactly what design engineers do, and they certainly don't know how to judge how competent they are.

But your potential clients might one day need the services of an A/E firm (don't leave out professional services firms) and wonder how they'll be able to choose the best one. While experience and skill in the industry are understandably important, not being deliberate enough in this selection process can have serious ramifications.

Maybe a business chooses an A/E firm based on a recommendation, but there's no innovation or creativity. Or a selected design engineer lacks dedication to the project, leaving the client wishing they could ditch the contract for someone else.

     How can a potential client see into the heart and mind of a design engineer professional whose work is done largely behind the scenes?

These are difficult scenarios, but not uncommon. How can a potential client see into the heart and mind of a design engineer professional whose work is done largely behind the scenes?

While past projects are one way to accomplish this, so is the right kind of work with nonprofits.

How Working with Nonprofits is Beneficial for Design Engineers (or Professional Services Firms)

   It is literally true that you can succeed best and quickest by helping others to succeed.” - Napoleon Hill

Choosing any professional for a job is never easy. Most people don't know exactly what design engineers do, and they certainly don't know how to judge how competent they are.

But your potential clients might one day need the services of an A/E firm (don't leave out professional services firms) and wonder how they'll be able to choose the best one. While experience and skill in the industry are understandably important, not being deliberate enough in this selection process can have serious ramifications.

Maybe a business chooses an A/E firm based on a recommendation, but there's no innovation or creativity. Or a selected design engineer lacks dedication to the project, leaving the client wishing they could ditch the contract for someone else.

     How can a potential client see into the heart and mind of a design engineer professional whose work is done largely behind the scenes?

These are difficult scenarios, but not uncommon. How can a potential client see into the heart and mind of a design engineer professional whose work is done largely behind the scenes?

While past projects are one way to accomplish this, so is the right kind of work with nonprofits.

When is the Best Time to Die – The Ultimate Guide for Business Owners Who Do Not Plan to Retire but Who Will One Day Be Kaput

   I have enough money to live comfortably for the rest of my life... If I die next Thursday.”  - anonymous 

 

I’ve been told , more times than once,  “I do not plan to retire” or worse, “I have no plans to retire and I am not considering even thinking about retiring for the foreseeable future.”

But just because you will never retire, “never” does not mean you forget about goals and metrics to judge your success.  And that is just what this article is about, The Earliest Possible, Maximally Strategic Date to Die

Your business is not perfect (whose is?) but your business needs you to make it at least perfect enough.  How long do you need to hang on before you correct all of your “grave” errors? That is what you will learn below.

That’s right. Read on and when you are finished, you will have computed the number of months you must remain above ground.

But first, who is this dark dissertation not for?

The Pros and Cons of Contracting with the Government

The United States government spent $835 billion in contractual services in 2018, making it the world's largest employer for contract work. If you or your business can meet the government's requirements, you could end up with a healthy revenue stream. But every job has its pros and cons, and government contracting is no different.

Whether you choose to become a government contractor could involve a mixture of circumstance and personal preference. There are some who swear by this type of work and others who wouldn't touch a government job if offered one. Still, others have more government work than they can handle and long for something else.

While government contracting can be an excellent way to start or sustain a business, it's not without its downsides. As with any risk, you must evaluate all factors to determine if the reward is worth the effort. Here are some of the pros and cons of contracting with the government.

New IRS Tax Forms - There are six new schedules

Following the most expansive tax law changes in 30 years, Treasury asked the IRS to look at ways to improve the 1040 filing experience. The IRS reviewed the set of 1040 forms (i.e. the Forms 1040, 1040EZ and 1040A) with the goal of simplifying this experience for taxpayers and its partners in the tax industry.

Treasury approved a new approach that provides flexibility in how IRS will be able to manage future changes to the Form 1040 and reduce the number of 1040 forms from which taxpayers must choose, to one basic Form 1040 that all taxpayers will use.

The 2018 Form 1040 replaces prior year Forms 1040, 1040A and 1040EZ.

Know When to Quit the Business as an Owner

      If at first you don't succeed, give up and try something else.”
- Homer Simpson

It may seem counterintuitive to joke about throwing in the towel, but the truth is that not every business was meant to succeed. So many of us are given the advice that if we just try hard enough, work smarter, or are resilient, that success is there for the taking.

While it's true that you want to give any endeavor your best shot, you also don't want to lose everything or quit too soon. Many business owners seem to wear their own set of blinders that don't allow them to see when it's time to draw a line and give up.

But businesses do fail and with shocking regularity. If you wait too long, you could lose much more than if you had taken action just a bit sooner. Here are some eye-opening figures about business failures and a list of key indicators that it might be time to shut down your business.

What to Expect from a Florida Tax Audit

The day your business receives a DR-840 notice from the Florida Department of Revenue will be one that you won't soon forget. This is the state's infamous Notice of Intent to Audit Books and Records. Your first action might be to crumble up the notice, toss it on the floor, and yell, "Why me?" This might feel good, but it's not going to prevent the state from auditing your business.

What FDOT Consultants Need to Know About Job Cost Accounting Systems

Professional Consultants seeking to provide services to the Florida Department of Transportation must be certified as “qualified” annually in accordance with Chapter 14-75 of the Florida Administrative Code.

The First & Primary Requirement

Regardless of whether the “Request for Qualification Package for Professional Consultants” is the initial submission or an annual renewal, the package must include evidence that you (the Consultant) maintains an accounting system adequate to separate and accumulate direct and indirect costs and to support billings to the FDOT Department and other clients.

The capability to identify and separately report direct and indirect costs is the first and primary Departmental requirement for your accounting systems.

When you (the Consultant) has the expectation of billing for direct labor by the hour, a job cost accounting system is required in order to “support billings to the FDOT Department.”

How Tax Reform Changed Accounting Methods for Small Businesses

The Tax Cuts and Jobs Act – better known simply as tax reform – allows more small business taxpayers to use the cash method of accounting. Tax reform now defines a small business taxpayer as a taxpayer that has average annual gross receipts of $25 million or less for the three prior tax years and is not a tax shelter.

Signs That a Criminal Stole Your Information from Your Tax Preparer

Paid tax preparers are an integral part of the U.S. tax system. They do about 60% of all returns each year, according to the Internal Revenue Service. Not all tax professionals are alert to the subtle signs of data theft. The IRS and its Security Summit partners note that there are many cases where tax preparers are victims of theft and don’t even know it.

New Business Tax Credit for Employers Providing Paid Family & Medical Leave

Eligible employers who provide paid family and medical leave to their employees during tax years 2018 and 2019 might qualify for a new business tax credit.

This new employer credit for family and medical leave is part of tax reform legislation passed in December 2017.

The intent of the business tax credit is to encourage companies to offer paid time to their employees for family responsibilities, offer relief of some financial pressure. Under the guidelines, employers can get a tax credit equivalent to a percentage of the wages normally paid to employees during any period for up to 12 weeks, who are on family or medical leave.

Employers setting up or updating a leave policy may also be eligible for retroactive credit.

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Increasing Reimbursements and Profits at Your Architect & Engineering Firm



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Recent Posts

How Working with Nonprofits is Beneficial for Design Engineers (or Professional Services Firms)

   It is literally true that you can succeed best and quickest by helping others to succeed.” - Napoleon Hill Choosing any professional for a job is n...

Read more

When is the Best Time to Die – The Ultimate Guide for Business Owners Who Do Not Plan to Retire but Who Will One Day Be Kaput

   I have enough money to live comfortably for the rest of my life... If I die next Thursday.”  - anonymous    I’ve been told , more times than once, ...

Read more

The Pros and Cons of Contracting with the Government

The United States government spent $835 billion in contractual services in 2018, making it the world's largest employer for contract work. If you or y...

Read more

New IRS Tax Forms - There are six new schedules

Following the most expansive tax law changes in 30 years, Treasury asked the IRS to look at ways to improve the 1040 filing experience. The IRS review...

Read more