As with all industries, the construction sector continues to realize the far-reaching effects of COVID-19 crisis. Now, more than ever, it’s imperative for a construction company’s risk management approach to be aggressive and proactive. With postponed and canceled projects, labor shortages, vendor and supply chain constraints, rising costs, and economic uncertainty, construction companies must carefully
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ARB recently issued Part I of a two-part series, which focused on the basics that keep construction businesses on track for short and long-term success. Basics for maximizing cash flow, minimizing costs, and reviewing procedures, like job costing. Contingency planning and strategy are important, even mid-crisis. We encourage construction companies to keep your momentum, keep
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When a building asset hits your books as a fixed asset, whether due to purchase, construction, or renovation, the straight-line depreciation method tells us to plop it in one of two bins, 39-year properties or 27.5-year properties, and await your taxable income deductions for each year of the recovery period. By redefining the recovery period
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ARB held its 2019 Construction and Real Estate Workshop on October 24, 2019. “We had several changes affecting the construction and real estate industry to discuss this year, and we were pleased to see familiar and new faces at our workshop. It’s a lot to cover, and, thanks to everyone involved, we were successful in
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Employee Stock Ownership Plans (ESOPs) have been on the rise since the Employee Retirement Income Security Act of 1974 (ERISA) set the foundation for the qualified retirement plan concept we encounter today. According to the National Center for Employee Ownership’s (NCEO) 2016 data, plan assets nationwide have reached $1.5 trillion, with 6,500 companies sponsoring ESOPs.
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