B&P Costs Don't Include Sub Costs Or Profit
Client Alert | less than 1 min read | 07.30.04
In Gentex Corp. v. U.S. (June 10, 2004), the Court of Federal Claims decided two issues of first impression for the court adversely to the contractor: (1) even when a solicitation specifically requests teams to respond, the B&P costs of teammates of the prime are not recoverable unless they are in a joint venture or in some other way are prime contractors themselves and (2) profit is not recoverable on the contractor's costs.
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Client Alert | 4 min read | 08.21.25
FLSA Overtime Reporting and Withholding
The One Big Beautiful Bill Act (the Act), signed on July 4, 2025, allows a deduction from an individual’s personal tax return on Form 1040 for “qualified overtime compensation” as defined in new Code § 225. The amount that can be deducted from the employee’s return is capped at $12,500 with the maximum then adjusted down if the employee’s AGI exceeds certain limits. This deduction is permitted in 2025.
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