The Build Back Better Act – Tax Benefits You Need To Know
November 17, 2021 On November 19, 2021, the U.S. House of Representatives passed the highly anticipated Build Back Better Act. We have all heard of the tax increases that are included in this approximately $2 trillion bill. However, what has received very little fanfare are the credits and additional tax deductions which are presently contained […]
The Infrastructure Investment and Jobs Act Includes Tax-related Provisions You’ll Want To Know About
November 04, 2021 Almost three months after it passed the U.S. Senate, the U.S. House of Representatives has passed the Infrastructure Investment and Jobs Act (IIJA), better known as the bipartisan infrastructure bill. While the bulk of the law is directed toward massive investment in infrastructure projects across the country, a handful of noteworthy tax […]
Techniques To Improve Internal Financial Reporting & Analysis
October 11, 2021 Having sound financial reporting is an important practice for any business. Ensuring that your internal reports are not only timely but accurate and complete is key to the financial health of your business. How does your finance department measure up when it comes to providing this key information to management? Here are […]
Understanding the Value of Your A/E Firm
September 07, 2021 An Overview of Architectural/Engineering Firm Valuation How much is your A/E firm worth? Certainly an important question, and unfortunately, it is one that many A/E firm owners cannot easily answer! First, let’s start with a discussion about why it is so critical to understand the value of your firm. There are many […]
Changes to Employee Benefit Plan Audits Are on the Horizon
August 25, 2021 In July 2019, the American Institute of Certified Public Accountants (AICPA) released new audit requirements for employee benefit plans through the issuance of Statement on Auditing Standards No. 136 (SAS 136), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The AICPA issued SAS 136 in […]
SBA Streamlines Forgiveness for Smaller PPP Loans
August 03, 2021 The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a […]
Now May Be the Right Time to Acquire a Business
July 27, 2021 The COVID-19 pandemic has resulted in financial losses for many businesses. As a result, some owners may be looking for an exit strategy. In this uncertain market, some investors see opportunity. For those who are able, now can be a good time to acquire a distressed business with an eye to turning […]
Is Your Buy-Sell Agreement Up to Date?
June 28, 2021 A buy-sell agreement is a critical tool for owners of closely held construction companies. It ensures an orderly ownership and management transition when an owner dies, becomes disabled or otherwise leaves the company. And it creates a market for departing owners’ shares, providing the owners and their families with liquidity and ensuring […]
Employee Retention Tax Credit – Are You Eligible Now?
June 17, 2021 The Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Employee Retention Credit (ERC), a refundable tax credit that provided incentives to eligible employers to retain employees during the COVID-19 pandemic. Upon enactment the ERC credit was available only to businesses that did not receive a forgivable Payroll Protection Program (PPP) […]
Considering a Roth IRA Conversion
June 01, 2021 Investors have long grappled with the conundrum of whether to opt for a traditional or Roth IRA. One factor that might tip the scales toward a Roth is a downturn in the value of your investments. If you have a traditional IRA, a decline may provide a valuable opportunity to convert your […]