If there’s any aspect of the construction business that gives you mixed feelings, it’s probably the humble — or in some cases not-so-humble — change order. On the one hand, […]
Category: Planning
NO MORE DRAMA: Build stability and value into your succession plan
You need look no further than the hit TV show “Succession” to see how lack of a clear succession plan can tear a family — and business — asunder. Although […]
What Is Bonding Capacity, Really?
Many construction companies rely on their ability to procure surety bonds to win projects. Owners of those jobs — government agencies in particular — often require bonding to guarantee that […]
6 Ways To Fortify Your Cybersecurity Defenses
Small to midsize businesses might assume hackers won’t bother with them. But construction companies of any size are indeed a prime target for cybercriminals. In fact, construction was the top […]
Tax considerations when adding a new partner at your business
Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will […]
Forecasts vs. projections: What’s the big difference?
Financial statements look at historical performance. But there are times when you want forward-looking reports to help your business make strategic investment decisions, evaluate the viability of a turnaround plan […]
Management Letters: Follow Up On Your Auditor’s Recommendations
Maintaining the status quo in today’s volatile marketplace can be risky. To succeed, businesses need to “level up” by being proactive and adaptable. But some managers may be unsure where […]
Tighten up billing and collections to mitigate economic uncertainties
While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of […]
Want To Turn A Hobby Into A Business? Watch Out For The Tax Rules
Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is profitable. But what if […]
What Estate Planning Strategies Are Available For Non-U.S. Citizens?
Are you, or is your spouse, a non-U.S. citizen? If so, several traditional estate planning techniques won’t be available to you. However, if you’re a U.S. resident, but not a […]