March 11

Restructure debt or file for bankruptcy?

Reading Time: < 1 minute Although things are slowly getting back on track, construction companies still face serious challenges. Some have taken on heavy debts. What should they do? Restructure debt or file for bankruptcy?

March 11

Tax Credits – higher education breaks may save your family taxes

Reading Time: < 1 minute Financial statements show not only where a construction company stands financially, but also where it may be headed. Contractors who work with their financial advisors to analyze their statements can often catch problems early on — before they turn into bigger issues. Here are eight red flags to look out for when reading your next statement.

March 11

Construction Financial Statements

Reading Time: 3 minutes Financial statements show not only where a construction company is financially, but also where it’s going. Contractors who work with their financial advisors to analyze their statements can often catch problems early on — before they turn into bigger issues. This article lists eight red flags contractors should look out for when reading their next statement, including declining equipment value, significant liability changes, and an increasing ratio of general and administrative expenses to profits.

March 11

A financial statement glossary

Reading Time: < 1 minute If you have been in the construction business awhile, you’re likely familiar with most of the key words on your financial statement.Nonetheless, it does not hurt to review these terms and think about how they currently apply to your company. Here’s a handy financial statement glossary.

March 11

Reinvested dividends

Reading Time: < 1 minute If you neglect to include reinvested dividends in your basis, you’ll end up paying tax twice: first on the dividends when they’re reported to you on Form 1099-DIV, and again when you sell the shares and the reinvested dividends are included in the proceeds.

February 25

Affordable Care Act – Short-term relief for some employers

Reading Time: < 1 minute Under the ACA, the shared-responsibility provision (commonly referred to as “play-or-pay”) applies to “large” employers — those with the equivalent of 50 or more full-time employees. Play-or-pay had been scheduled to go into effect in 2014 but last year the IRS pushed that out to 2015. Now, under the final regs, eligible midsize employers that otherwise would be considered large employers under the ACA won’t be subject to the provision until 2016.

February 25

Substantiating Charitable Contributions

Reading Time: < 1 minute To support a charitable deduction, you need to comply with IRS substantiation requirements.This generally includes obtaining a contemporaneous written acknowledgment from the charity stating the amount of the donation, whether you received any goods or services in consideration for the donation, and the value of any such goods or services.

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