Construction & Real Estate
Building information modeling (BIM) is one of the most important technological developments in construction history. As you’re no doubt aware if you’ve used it, the software helps everyone involved resolve design conflicts and other issues before construction begins. When used to its maximum potential, BIM can also enhance quality, speed and productivity while reducing costs.…Read More
Tariffs on steel and aluminum have recently contributed to an increase in materials costs. There are many other factors that can cause prices to escalate, too, including shortages brought about by building booms in other parts of the country or world; environmental issues, such as loss of forestlands; and rising fuel and other transportation costs.…Read More
The skilled labor shortage has been a problem for so long that you might be tired of reading about it. Yet, on a nationwide basis, the fact remains that construction businesses face a great challenge in hiring and retaining well-trained and experienced workers. If your construction company has good people on board right now, you’ve…Read More
Is your construction business organized as a sole proprietorship or pass-through entity (such as a partnership, S corporation or limited liability company)? If so, the new 20% “pass-through” deduction can be a valuable tax break. But the deduction is subject to complex limits and restrictions. That’s why it’s important to review your situation carefully to…Read More
What is an Opportunity Zone? The Federal Tax Cuts & Jobs Act of 2017 (TCJA) which passed December 2017 included new provisions to increase the economic growth in communities across the United States that were labeled as “opportunity zones.” According to the IRS, an opportunity zone is classified as an economically-distressed community where new investments,…Read More
The notion of starting work on a project without a contractor’s license may seem unthinkable. But, in their rush to win bids and start work, many contractors have run afoul of licensing issues. Here’s how it can happen. A major culprit Out-of-state work is a major culprit. If you work on projects in other states,…Read More
The thought of creating a buy-sell agreement may strike a certain amount of trepidation into the hearts of some contractors. The mere suggestion of ownership change can raise delicate issues that are often avoided. But putting off the creation of a well-crafted buy-sell can put a construction company at risk if unexpected circumstances arise. Understand…Read More
No part of the country is immune from disaster. Whether your construction company operates near water or in a desert, in the city or the suburbs, a natural calamity could stop you in your tracks and even put you out of business. For this reason, it’s a good idea for every contractor to at least…Read More
Tax reform has expanded availability of accounting methods Almost a year ago, the Tax Cuts and Jobs Act (TCJA) was signed into law. It may be best known for slashing corporate and individual income tax rates. But another change made by the act will have a big impact on many construction companies — particularly those…Read More
Recently, immigration authorities have been cracking down on not only companies that hire those who are in the country illegally, but also businesses that mishandle the paperwork related to Form I-9. This article explains some of the related rules and suggests essential compliance steps for construction companies to follow.Read More
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