How do I account for interest costs on construction?

Answer Construction Interest AccountSet up the construction interest account. Construction interest is part of the cost of construction and it is capitalized in an asset account and amortized over the lif... Read More »

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How to Estimate Remodeling Construction Costs?

In order to estimate remodeling construction costs, it is necessary to know the precise extent of the work. This can be accomplished by drawing a plan, creating a list or having the information com... Read More »

List of a Construction Company's Direct & Indirect Costs?

Construction business owners must understand direct and indirect costs for client billing and taxation purposes. Then the construction business can effectively bill clients by determining exactly h... Read More »

How to Capitalize Interest on Construction Projects?

Under FASB 34, companies must capitalize interest on construction projects. It is important to remember that the company may only capitalize the actual amount of money spent, and the interest rate ... Read More »

How do I account for shipping costs?

Obtain a 1040 Schedule COrder or print out a Schedule C (Form 1040) from the IRS, which is labeled as Profit or Loss from Business (Sole Proprietorship). Shipping costs are accounted for on this fo... Read More »