During 2013, the Federal Highway Administration (FHWA) entered into a test period of a national indirect cost rate “safe harbor” rate. This safe harbor rate was approved for use by eligible consultants on a test evaluation basis for ten
As many of you know that work for MDOT, the deadline for Annual Financial Prequalification requirements the past few years has been 3 months after a consultants fiscal year end for those consultants submitting a FAR compliant overhead rate
The Michigan Department of Transportation has a program for disadvantaged business enterprises (DBEs). The DBE program is a federally required program designed to ensure that firms owned and controlled by minorities, women and other socially and economically disadvantaged persons
Our clients routinely incur bid and proposal costs. Bid and proposal costs are the expenses incurred by the Company in preparing, submitting and supporting bids and proposals on potential contracts. Our clients have established policies and procedures for accumulating
As we enter a new year, and wrap up 2014 tax season, it is always good to get out in front of tax issues. Two strategies that small businesses can take to save some heartache at the end of
Attached below is an audit alert from the DCAA on Expressly Unallowable Costs. The DCAA has identified 110 Expressly Unallowable costs which reflects FAR Part 31 and DFARS. Audit Alert Distributing a Listing of Cost Principles That Identify Expressly Unallowable
In the past the Defense Travel Management Office had allowed lodging to be reimbursed at 125% of the maximum locality lodging rate through December 31, 2013. Starting January 1, 2014 and going forward, the allowable lodging rate is limited
Somerset CPAs and Advisors is now part of CBIZ and MHM. Together, CBIZ and MHM are one of the Top Ten accounting providers in the country. Please click here for more information.
