Business Meal Deductions: The Current Rules Amid Proposed Changes

Restaurants and entertainment venues have been hard hit by the novel coronavirus (COVID-19) pandemic. One of the tax breaks that President Trump has proposed to help them is an increase in the amount that can be deducted for business meals and entertainment. It’s unclear whether Congress would go along with enhanced business meal and entertainment […]

Leed isn’t the Only Green-Building Game in Town

Mention “green building” and most contractors think of the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program. LEED may be the front-runner in green building rating systems, but it’s not the only game in town. Here are some others you may encounter when working with project owners: BREEAM USA (breeam.com/usa) Founded […]

Independent Assurance Inspires Confidence in Sustainability Reports

Sustainability reports explain the impact of an organization’s activities on the economy, environment and society. During the novel coronavirus (COVID-19) pandemic, stakeholders continue to expect robust, transparent sustainability reports, with a stronger emphasis on the social and economic impacts of the company’s current operations than on environmental matters. Investors, lenders and even the public at […]

Launch Strategies to Handle the New Overtime Rules

New federal rules that took effect January 1 are expected to expand the pool of overtime-eligible employees by more than 1 million. With no exceptions for nonprofits, some are looking for ways to avoid overtime liability. Particularly eager are organizations with tight budgets that didn’t anticipate such costs. Here are some strategies to cut overtime […]

Industry Trends: Megaprojects are on the Rise

They’re big, and they’re big business. Megaprojects — large-scale and often high-profile construction projects that cost $1 billion or more — are taking the industry by storm. When compared with “standard” projects, megaprojects are a different animal. They have ambitious objectives, lengthy lead times, amplified complexity and intense stakeholder involvement. Consequently, they come with bigger […]

Adjusting Your Financial Statements for COVID-19 Tax Relief Measures

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel coronavirus (COVID-19) crisis. Those provisions will also have an impact on financial reporting. Companies that issue financial statements under U.S. Generally Accepted Accounting Principles (GAAP) are required to follow […]

Effective Altruism: Making Their Money Count

“How do I do the most good with my donation?” is a question many donors ask these days, as the social movement of effective altruism carries its momentum into the 2020s. Effective altruism is commonly described as a philosophy that uses evidence and reasoning to determine the most effective ways to benefit others. And the […]

How to Use Visual Aids in Financial Reporting

Thanks to the Internet and social media, we’re bombarded daily with all kinds of information. As a result, most people prefer clear, concise snippets of data over lengthy text. Have your financial statements kept up with today’s data-consumption trends? Show and tell Humans are visual learners. In business, the use of so-called “infographics” started with […]

The New COVID-19 Law Provides Businesses with More Relief

On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee retention credit The new law provides a refundable payroll tax credit for 50% of wages paid […]

Reviewing The Finer Points of the Section 199A Tax Deduction

It’s been over a year since the IRS issued final regulations regarding Internal Revenue Code Section 199A. This Code Section created a tax deduction enabling owners of sole proprietorships, partnerships, limited liability companies and S corporations to write off up to 20% of their qualified business income (QBI). If your construction company is organized under […]