Footnote Disclosures: The Story Behind The Numbers

The footnotes to your company’s financial statements give investors and lenders insight into account balances, accounting practices and potential risk factors — knowledge that’s vital to making well-informed business and investment decisions. Here are four important issues that you should cover in your footnote disclosures. 1. Unreported or contingent liabilities A company’s balance sheet might […]

Accounting For Property, Plant And Equipment Assets

Businesses and not-for-profit entities capitalize machines, furniture, buildings, and other property, plant and equipment (PPE) assets on their balance sheets. Here’s a refresher on some common questions about how to properly report these long-lived assets under U.S. Generally Accepted Accounting Principles (GAAP). What’s included in book value? PPE is reported on the balance sheet at […]

The Right Entity Choice: Should You Convert From A C To An S Corporation?

The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over C corporations in some circumstances, there are potentially costly tax issues that you should […]

Year-End SWOT Analysis Can Uncover Risks

As your company plans for the coming year, management should assess your strengths, weaknesses, opportunities and threats. A SWOT analysis identifies what you’re doing right (and wrong) and what outside forces could impact performance in a positive (or negative) manner. A current assessment may be particularly insightful, because market conditions have changed significantly during the […]

Lessons Of 2020: Change Management

The year 2020 has taught businesses many lessons. The sudden onset of the COVID-19 pandemic followed by drastic changes to the economy have forced companies to alter the size of their workforces, restructure work environments and revise sales models — just to name a few challenges. And what this has all meant for employees is […]

On-Site – Fall 2020

The Fall issue of the On-Site is out and full of great information! Here’s a brief glance at what you’ll find in the Fall issue… Year-end tax planning: Depreciation deductions remain viable Enhancing preconstruction to protect workers and the bottom line Now’s a good time to re-evaluate employee benefits 4 ways construction teams can work […]

Building the framework of your succession plan

At some point, we all must hang up our hard hats. But what will happen to your construction company when you retire? Or when you simply can’t work for an extended period, because of illness or injury? Having a succession plan in place is key to ensuring the business will go on. Even if you’re not […]

Numbers matter: The finer points of your succession plan

When it comes to succession plans, construction company owners often focus on when they intend to leave the business or who will replace them. But, remember, numbers play an important role as well — particularly if you intend to sell the business to help finance your retirement. Obtain an appraisal A business valuation is a […]

What can a valuation expert do for your succession plan?

Most business owners spend a lifetime building their business. And when it comes to succession, they face the difficult decision of whether to sell, dissolve or transfer the business to family members (or a non-family successor). Many complicated issues are involved, including how to divvy up business interests, allocate value and tackle complex tax issues. […]