News & Resources

Safe Harbor Overhead Rate

The Federal Highway Administration (FHWA) has extended the use and application of the Safe Harbor Overhead cost rate through December 31, 2016, for those consultants that meet the eligibility requirements.  The extension is being issued to allow additional time for

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2016 Somerset Construction Survey

Have you been wondering what recent salary and benefits trends are in the construction industry? Well, the wait is over! Somerset has launched their 2016 Indiana Construction Industry Financial Performance and Salary & Benefits Survey. This unique, industry-specific survey provides valuable information

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President Signs Highway Act Into Law

  On July 31, 2015, President Obama signed into law H.R. 3236, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.” This Act provides a three-month extension, through Oct. 29, 2015, of the general expenditure authority for

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Common Construction Wage Repeal Update

  Somerset CPAs and Advisors has been working to learn the impact of the common construction wage repeal to our contractor clients. Training programs, liability insurance, drug testing and registration with Indiana Department of Administration are all requirements under the new statute

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Sales Tax Exemption

Many industries including manufacturing, construction, not-for-profit, agriculture and physician offices are granted sales tax exemption status on their purchases.  If you have not considered buying such materials and supplies exempt from sales tax, contact us for a discussion on how

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