How is my job costing system affecting my bottom line?
Am I looking to improve my bonding ability and capacity?
What are the best ways to add new revenue streams?
Am I aware of the various tax accounting methods available to contractors that help defer tax payments into the future?
Am I in compliance with construction tax matters, such as lookback interest?
State & Local Tax
When is the last time I checked my company’s compliance with state and local tax laws?
Which tax deductions specific to the construction industry have I taken advantage of recently?
Am I receiving tax credits for design, engineering, or process improvements?
Am I receiving research and development tax credits for designing new technologies, applications, and process improvements?
Am I maximizing the 20% Section 199a deduction?
What are the key financial ratios to monitor the growth and profitability of my business?
Am I currently using the best entity type for my business?
State & Local Tax
Am I up-to-date on the complexities of state and local taxation and economic nexus?
Have I completed a transfer pricing study for my foreign subsidiaries?
Have I considered offshore resources for growing my business?
Am I eligible for Section 1202 Qualified Small Business Stock when selling my company?
What are my options when it comes to retirement / profit sharing planning?
What is the most economically-sound way to transition my practice?
How do I improve cost containment?
Do I prepare an annual budget?
Do I compare my monthly performance to my budget?
Do I have a process for optimizing my revenue cycle and management plan?
How can I become more profitable?
How do my costs compare to my competitors?
Am I computing my daily utilization percentages every day by provider?
Do I have the right payor and patient mix contracts?
Does my Q4 planning consider the factors impacting my current tax situation (i.e. equipment, purchases, bonuses, collections, retirement)?
Compensation & Bonuses
Do I have a formalized comp model for physicians and non-physicians, and what is it based on?
Do I have a government contract compliance plan?
Is my accounting system DCAA compliant?
Does my time tracking system integrate with my accounting system?
Am I submitting the appropriate financial statements in compliance with revenue thresholds?
Have I reviewed the 8(a) excessive income and distribution compliance?
Am I leaving money on the table by not separating on-site and off-site rates?
Am I listed on all the appropriate award databases – such as SAM, GSA, etc?
Do I have forward pricing models?
Are my government contracts eligible for research and development tax credits?
How far do you want to go?
Thought starters to get the ball rolling