Despite the current state of the economy, healthcare costs are continuing to rise. According to national reports, health insurance premiums have doubled in the last eight years and increasing co-pays and deductibles make it hard for some Americans to have access to the proper care. In response, President Barak Obama has introduced a new healthcare…
For tax purposes, the difference between a “repair” and an “improvement” is more than just semantics. Generally speaking, the cost of an improvement to business property must be capitalized and written off over a period of years. In contrast, if you simply repair a business asset, you may currently deduct the entire cost. Some expenses…
What is medical practice worth? IT DEPENDS! And once you understand this sole fact, you can then begin to concentrate on how to get to the answer. There is a great misunderstanding in the medical community as to what constitutes the value of a medical practice. Purchasers often think it is valued based on what…
Due to medical advances, people are living longer than they did in the last century. In the United States, the current average life expectancy is 77.8 years. Of course, that is encouraging news. On the downside, if an elderly relative needs expensive long-term care, it could cause financial and emotional problems for the rest of…
Thirty–fifty years of age, married with a stable family situation, above average education, professional or managerial staff level… who does this describe? According to recent research, it describes the profile of most fraud perpetrators—those most likely to misappropriate assets from their employers, also known as occupational fraud. White-collar crime appears to be the crime of…
You make critical decisions every day in managing your projects and your people. But, do you have the time to control the bigger financial management issues facing your business? Many construction business owners spend their valuable time working in the business, but few are able to devote significant time and resources to work on the…
By: Jeff Burd Winter’s gloom continues to settle in on the non-residential construction market nationally. Bank lending for commercial construction remains restricted, secondary financing vehicles, like REIT’s or commercial mortgage backed securities, remain closed. Compounding the financial issues, widespread downsizing has elevated unemployment to levels not seen since the early 1980’s, further suppressing demand. “We’re…
More IRS Audits A recent report from the Government Accountability Office reveals that for its 2008 fiscal year, the IRS increased its audits of high-income taxpayers by close to 16%. Audits of small businesses increased by 3%. Less Information Required on Davis-Bacon Payroll Records Contractors covered by the Davis-Bacon and Related Acts will no longer…
Congress and the administration have put into place a comprehensive economic stimulus plan in an attempt to revitalize the economy. Several spending provisions of the American Recovery and Reinvestment Act of 2009 (the Act) will have a direct impact on many sectors of the construction industry. The Act also contains a number of tax-related provisions…
The Environmental Protection Agency (EPA) has proposed tighter controls on storm-water discharges on construction sites. If adopted, these proposed standards may end up costing the construction industry in excess of $2 billion annually to monitor and chemically treat and filter storm-water runoff from construction sites, according to an industry group. The Problem The EPA says…
