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Construction News & Updates |
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Welcome to your first HbK HardHat e-Newsletter! This communication is designed to provide informative construction articles, news and updates, as well as developments within our firm, regularly throughout the year. This electronic newsletter allows us to quickly send you updates and other communications as they happen. Please take a moment to "Update your preferences" by clicking the link at the bottom of the page. You will find with any article written by an HbK professional, you can simply click on their name under the article title to send them an e-mail. There are also various keywords throughout the newsletter that, if clicked on, will send you to an appropriate web page for more information. Please feel free to pass this newsletter along to family members, friends, associates or anyone you feel may benefit from the topics covered in each issue. To provide comments, suggestions or feedback, just click "Comments & Feedback". This link will be available at the bottom of each newsletter. You can unsubscribe at any time by clicking the "Unsubscribe" button at the bottom of the newsletter. We hope you enjoy the HbK HardHat! Strategic Planning in a Down Economy
By Richard E. Spence, CPA, MBA, CVA, CCIFP and Daniel Steinmeyer, CPA Strategic business planning in a down economy is one of the most important corporate risk management and leadership priorities currently facing industry today. Most financial executives believe this, but are so challenged with survival mode fires that strategic business planning seems like a monumental task. During a time of crisis, it is vital to execute a plan for short-term survival while simultaneously redeveloping a plan for accomplishing long-term goals. Planning Now Means Savings Later
By Alan Abraham, CPA and Kevin Deardorff, CPA Is your business operating at a loss for 2009? If so, you may be able to carry-back this loss and get a refund of taxes paid in prior years. This is called a “Net Operating Loss” or (NOL). In profitable years you are usually in a high income tax bracket. By carrying back losses to these years, you can recoup taxes you paid in previous years. You will benefit from an immediate cash infusion from the tax refund. New tax law changes allow you to carry-back a 2009 NOL to 2, 3, 4, or 5 years.
Have you heard about the extended NOL carryback period?
Better start, better finish — 5 steps for avoiding project delays before work begins
Mind your metrics — Key financial measures can keep you in the game
This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. ©2010 CONma10 |
This tax season, some construction companies may find welcome relief from an uncertain economy and challenging marketplace because of the recently extended net operating loss (NOL) carryback period. This provision is part of the Worker, Homeownership and Business Assistance Act of 2009, a bill passed last November that aims to create jobs and offer respite to struggling businesses and the unemployed. The newly renewed NOL rules allow most businesses to carry back their NOLs for up to five years, instead of the previously sanctioned two.
Project delays occur for a number of reasons, and can range from small misunderstandings to huge conflicts that may put the financial success of a project on the line. But there are five steps that will help a contractor get to the finish line quicker by getting off to a better start: checking the owner’s financing; having a specific, well-defined contract; collaborating with all parties on a plan of action; creating standardized information management systems and processes; and choosing suppliers wisely. A sidebar to this article lists key questions that a contractor should ask potential vendors when considering a shift to paperless operations.
As the local market picks up or slows down, contractors need to know exactly where they stand financially to reasonably decide whether to move boldly forward or pull conservatively back. And when it comes to determining financial standing, the more accurate and precise one is, the better. That’s where certain key financial measures come into play. This article discusses such measures as return on assets and return on equity, along with a number of important ratios. 
For the owner of a general contracting business in a mostly urban rehab/high-rise market, times were tough. With the economy in gradual recovery mode, work was slowing down and competition was stiff. So, during a visit to his financial advisor, the owner asked for ideas on gaining an edge. She had one that he found quite surprising: supplementary certification. Contractors who seek certification beyond what’s required for licensure, she explained, are in a better position to compete for business and broaden their horizons in areas they wouldn’t normally explore. She mentioned several well-known organizations where he might go for continuing education and certification courses.