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Source http://www.irs.gov/uac/Newsroom/New-Standard-Mileage-Rates-Now-Available;-Business-Rate-to-Rise-in-2015 WASHINGTON — The Internal Revenue Service today issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be: […]
by Kevin Duncan, CPA In our last blog post, we provided the background for what to expect from a DCAA audit. In this post, I’ll give share my experience concerning the “when”. As mentioned before, it is the Contracting Officer’s responsibility to request an audit. This blog post will address the first two questions. A […]
As a government contractor, audits, sometimes DCAA, are a regular part of the business. It is the Contracting Officer’s responsibility to request an audit. Here are six important questions that arise: What is a DCAA audit? How important is it to my business? When can I expect it? How do I prepare for it? How […]
If you have not started, now is the time to prepare your direct and indirect costs budgets for next year. Budgets are of vital importance to government contractors. First, your budget provides the basis for determining the pricing on cost proposals. This budget will be the document that government auditors and pricing specialists will want […]
Cost Proposals When bidding as a subcontract, what cost information is appropriate to share with the prime contractor? Most contractors are aware that your team mates this week will be your competitors next week. Thus, they share only the necessary information and consider all else proprietary. The subcontractor would share loaded costs or loaded rates, […]
K Duncan & Company LLC (KDC) is a Licensed Certified Public Accounting and Financial Services firm that provides support to agencies of the federal government and government contractors. KDC’s staff of CPAs and accountants has consistently demonstrated its strength by successfully delivering financial and accounting services to our clients.