Construction Industry Advisor
Showing 225–240 of 262 results
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How would you handle a crisis? – Don’t wait until one happens to find out
Summer 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 651
Abstract: Catastrophic events can happen at any time — but their consequences can be reduced if a construction company has a formal disaster management plan already in place. It starts with identifying every crisis that could challenge the business and then creating a suitable response to each. This article shows how to assemble a crisis management team, and how to be ready to address the emotional needs of employees affected by the crisis.
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Health care reform – Understanding what it means for your construction company
Summer 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 927
Abstract: With its complex provisions and multiple effective dates, the new Patient Protection and Affordable Care Act has created a lot of confusion among employers — including construction company owners. This article answers some common questions about the new law, such as whether health insurance must be provided to employees, how companies can determine the number of full-time-equivalent employees they have and how this affects their legal obligations, and action steps to take. A sidebar discusses a tax credit that’s available for small businesses.
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Contractor’s Toolbox – Debt relief also brings tax implications
Spring 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: As the economy continues to struggle, many contractors are asking their lenders for debt relief. Often, restructuring debt is in the best interest of both borrower and lender. But contractors who are discussing workout options with their lender should be sure to consider the tax implications. Even if their property has declined in value, a foreclosure or debt workout can result in taxable cancellation-of-debt (COD) income for recourse loans, or capital gains for nonrecourse loans. There are ways to avoid or defer COD income, but the rules are complex.
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Putting the WOTC to work for you
Spring 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 814
Abstract: One financial tool that contractors often overlook is the Work Opportunity Tax Credit (WOTC) — a tax break available to companies that hire workers from certain disadvantaged groups. The WOTC has been around for years, but last year’s stimulus legislation expanded the list of targeted groups to include “unemployed veterans” and “disconnected youth.” This article looks at details of the credit and how to apply, while a sidebar discusses the Hiring Incentives to Restore Employment (HIRE) Act of 2010, a tax break for hiring and retaining workers.
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Don’t throw in the towel – How to get your groove back after the recession
Spring 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 508
Abstract: After several years of this tough economy, many contractors may be ready to throw in the towel. But they can get back in the groove by harnessing cash flow and actively managing their company’s finances. Every contractor should have three- to six-month cash flow projections, and not let client debts mount. This is also a good time to look at capitalization, accounting practices and other financial management issues. Nor should marketing efforts be overlooked.
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IRS employment exams: Will your construction company pass the test?
Spring 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 735
Abstract: Recently, the IRS launched an audit program that focuses on employment tax issues. As part of a National Research Project (NRP), the IRS will randomly select approximately 6,000 employers over the next three years for detailed employment tax examinations. The IRS offers few details about the specific issues it plans to probe, but it’s expected that some of the main employment tax issues NRP audits will target include worker classification, officer compensation and reimbursed expenses. A sidebar to this article discusses the Davis-Bacon Act, a federal law that requires contractors to pay a “prevailing wage” on most federal projects.
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Contractor’s Toolbox – Is your immigration program up to date?
Winter 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 431
Abstract: In recent years, the U.S. government has shifted its focus from employees working in the United States illegally to the employers who hire them. To protect one’s company and its management against civil fines and possible criminal charges, it’s important to have an immigration compliance program that’s up to date. This article provides answers to four important questions employers should be asking themselves.
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Long before you’re ready to retire … Take time to build a solid succession plan
Winter 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 605
Abstract: The earlier succession planning begins, the better. Developing and grooming a successor will take time, as will preparing employees and managers to adjust to a new ownership structure. It’s also necessary to bring together a team of experts to help create a workable succession plan that provides for a sound management structure and includes a buy-sell agreement. Or it may be better to sell the company to an outside party, or to employees through an employee stock ownership plan (ESOP). All options require planning well in advance of an owner’s retirement.
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6 tips for boosting profitability
Winter 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 655
Abstract: The construction business is risky not only from a safety perspective, but from a financial perspective as well — thin profit margins, unpredictable site conditions, volatile costs, change orders and the use of multiple subcontractors. There are six ways a contractor can improve profitability, including evaluating one’s estimating procedures, knowing indirect costs, and building sufficient profit into the bid.
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Accounting for long-term contracts – Understanding look-back is in your best interest
Winter 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 869
Abstract: When the percentage-of-completion method (PCM) is used to account for long-term contracts, income might end up being understated or overstated. Either way, it’s important for tax reporting purposes to understand the look-back rules, in which one “looks back” at the income or loss reported for the job for each tax year during which the contract was performed. This article takes a look at the procedures involved, and instances in which the look-back rules don’t apply. A sidebar discusses the simplified marginal impact method (SMIM) that non-closely-held pass-through entities are required to use.
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Contractor’s Toolbox – Is subcontractor safety any of your business?
Fall 2009
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 417
Abstract: When a general contractor was cited for its subcontractor’s safety violations — even though the safety of only the subcontractor’s employees was at stake — the contractor appealed. But the U.S. Court of Appeals for the Eighth Circuit upheld the citation. Although this case is binding in only the midwestern states included in the Eighth Circuit, it’s likely that OSHA will continue to enforce its controlling employer citation policy in other locales. Contractors will be wise to modify construction contracts to require subcontractors to comply with OSHA safety requirements as well as the contractor’s safety plan.
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Public construction projects – Reinventing yourself to compete
Fall 2009
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 736
Abstract: The struggling economy has been tough on the construction industry, particularly for contractors that do residential and commercial work. Many contractors have reinvented themselves to take advantage of new opportunities in public works construction. But it’s critical to get up to speed on the rules for bidding on public contracts. One misstep can be the difference between winning and losing a job, or worse yet, the difference between profit and loss. It’s important to learn where to find out about these often little-publicized jobs, and then get acquainted with the strict bidding rules that accompany them. A sidebar looks at some of these specific technicalities.
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Eliminate the creep! How to manage indirect costs
Fall 2009
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: What a construction company spends on project management, repairs, small tools, office trailers and so forth can easily creep up on it. These indirect job costs — if not properly allocated to their projects — can cause overhead to increase and profitability to suffer. It’s important to break down and analyze spending, and determine how indirect costs affect projects. A contractor should also review the amounts it’s paying vendors. Set up correctly, an indirect-cost allocation system can help a contractor to bid projects more realistically and build up its bottom line.
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Subcontractors and surety bonds: 5 tips for getting paid
Fall 2009
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 675
Abstract: It’s a big mistake for a subcontractor to assume that it’s protected by payment or performance bonds. Before a contract is signed, it’s necessary to perform the due diligence needed to confirm that required bonds exist, that they’re valid and sufficient, and that the surety is financially stable. This article lists five steps a subcontractor should take to help ensure it gets paid for its work and materials.
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FAR-reaching rules for government contractors
Summer 2009
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 336
Abstract: Contractors performing work for the federal government must become familiar with the recently revised Federal Acquisition Regulation (FAR). They are now required to disclose certain overpayments and legal violations. And those who are involved with larger projects must implement rigorous business ethics programs and internal control systems. This short article looks at some of the details.
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Contractor’s Toolbox – Don’t wait! Time’s running out on certain tax breaks
Summer 2009
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 591
Abstract: In the wake of the American Recovery and Reinvestment Act of 2009 (ARRA), contractors stand to benefit from not only spending initiatives for infrastructure and other construction projects, but also several tax incentives. These include a temporary extension of the 50% bonus depreciation and the enhanced Section 179 expensing election. Contractors planning any asset expenditures should take an immediate look at these incentives, but also keep in mind the bonding and banking effect of any major asset acquisition, so that liquidity and leverage ratios don’t suffer.