by Brandon Lee | Jan 22, 2020 | Blog
Okay, so you’ve just been awarded a cost reimbursable contract, and in reviewing the contract, you discover the FAR (Federal Acquisition Regulation) Clause 52.216-7 Allowable Cost & Payment, in Section I Contract Clauses. So what exactly is this clause and what...
by Brandon Lee | Oct 29, 2019 | Blog
Contract type is a term to signify differences in contracts and their structures; including but not limited to compensation arrangements, amount of risk (either government or contractor). Contract types vary according to: The degree and timing of the risk...
by McNew & Associates | Jan 8, 2019 | Blog
Provisional Billing Rates for your Cost Reimbursable Contracts are due 90 days after your company’s fiscal year end, which for most companies, is March 31st. That date is fast approaching. What are Provisional Billing Rates? As part of holding a cost reimbursable type...
by Brandon Lee | Dec 3, 2018 | Blog
FAR 4.7 states “Contractors shall make available records, which includes books, documents, accounting procedures and practices, and other data, regardless of type and regardless of whether such items are in written form, in the form computer data, or in any other...
by Brandon Lee | Nov 6, 2018 | Blog
The Internal Revenue Service reminds small businesses of the importance of understanding and correctly applying the rules for classifying a worker as an employee or an independent contractor. For federal employment tax purposes, a business must examine the...
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