Construction & Real Estate

joint employer rule

Watch Out for Joint Employer Rule

There’s no getting around it: Construction is an inherently collaborative enterprise. Many, if not most, projects involve a variety of contributors. But therein lies a danger. Contractors who exercise control over the employees of subcontractors or other parties — or reserve the right to exercise such control — risk being ensnared by the so-called “joint…

Read More
cash flow

Checking Your Paperwork for Slow Cash Flow Contributors

Most contractors struggle with cash flow occasionally, if not regularly. These problems can take a variety of shapes and sizes and stem from many causes. One common contributor to cash flow slowdowns is the very paperwork you use to arrange and close out projects: namely, your contracts and invoices. Read the fine print When you…

Read More
construction pass-through regulation deduction

Final Pass-Through Deduction Regs Offer Welcome Guidance

In January, the IRS issued final regulations under Internal Revenue Code Section 199A. This section allows owners of pass-through entities — sole proprietorships, partnerships, limited liability companies and S corporations — to deduct up to 20% of their qualified business income (QBI) from those entities. Owners of construction companies organized under these entity types should…

Read More
captive insurance

Risk Management: Could a Captive Insurance Company Suit You?

Insurance is a challenge for most construction businesses. You want to control your costs, but you may struggle to obtain affordable coverage of difficult-to-insure risks or fill “gaps” in your existing coverage. One potential solution for fast-growing or well-established construction businesses is captive insurance. It can help reduce premium costs while providing a variety of…

Read More
BIM building information modeling

Mixed Reality: The Next BIM Thing in Construction Tech?

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
rising material prices

Steel Yourself Against Rising Materials Prices

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
construction employee retention

Following the Fundamentals of Employee Retention

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
pass-through deduction

A Fresh Look at the Pass-Through Deduction

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
opportunity zones Virginia tax benefits

Deferring Capital Gains: VA Opportunity Zones Investments

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
contractor's license

Your Contractor’s License: Don’t Leave Home Without It

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