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Is an ESOP the Right Exit Strategy for Your Construction Company?

If you're planning for succession, you may be weighing your options: sell to a competitor, transition to family, or bring in outside investors. But one increasingly attractive option, especially in the construction industry, is establishing an Employee Stock Ownership Plan (ESOP). An ESOP allows you to sell all or part of your company to your employees, providing a structured exit while preserving your... Read More

Why Proper Asset Titling Matters to You and Your Family

When it comes to protecting your loved ones and making sure your wishes are honored, how your assets are titled is just as important as having a will. Asset titling refers to how ownership of property is legally structured, specifically, whether you hold something in your name only, jointly with someone else, or in a trust. These decisions can determine how your assets pass, whether they go through probate,... Read More

The House passes The One, Big, Beautiful Bill Act: An overview of its tax provisions

The U.S. House of Representatives passed its sweeping tax and spending bill, dubbed The One, Big, Beautiful Bill Act (OBBBA), by a vote of 215 to 214. The bill includes extensions of many provisions of the Tax Cuts and Jobs Act (TCJA) that are set to expire on December 31. It also includes some new and enhanced tax breaks. For example, it contains President Trump's pledge to exempt tips and overtime from... Read More

Tax provisions in the proposed One, Big, Beautiful Bill Act that manufacturers need to know about

Manufacturers should keep a close eye on Washington, D.C., this year. Indeed, many of the federal government's proposed tax and spending policies will have a direct impact on the U.S. manufacturing industry. Two top examples include the uncertainty surrounding tariffs and the proposed One, Big, Beautiful Bill Act (OBBBA). The U.S. House of Representatives passed the OBBBA in May. The bill includes... Read More

Activity-based costing may benefit some contractors

In an uncertain economy, accurate and actionable job cost accounting is more important than ever. If you haven't already, consider using activity-based costing (ABC) to obtain more precise and useful information. Done right, ABC helps you use your resources more efficiently by allocating expenditures — especially overhead and indirect costs — more realistically than traditional job costing. As... Read More

Could a PEO help your construction business overcome its HR challenges?

Construction companies operate in a complex environment when it comes to payroll, benefits and compliance. While other types of businesses can compensate most groups of employees under one regular pay rate, contractors must deal with many variables — including multiple pay rates, prevailing wages and worker classification. Then there are issues such as administering fringe benefits and managing... Read More

Keeping manufacturing company owner compensation on the right side of tax laws

Smaller manufacturing companies often operate as S corporations. In many cases, one of the shareholders (or perhaps the only shareholder) also runs the business. It's vital that S corporation owners who work in the business pay themselves "reasonable compensation." If they don't, they may attract IRS scrutiny — and possibly incur back taxes, interest and penalties. The reasonableness of a... Read More

IRS clarifies theft and fraud loss deductions

The Tax Cuts and Jobs Act (TCJA) significantly limited the types of theft losses that are deductible on federal income taxes. But a recent "advice memo" (CCA 202511015) from the IRS's Office of Chief Counsel suggests more victims of fraudulent scams may be able to claim a theft loss deduction than previously understood. Casualty loss deduction basics The federal tax code generally allows individuals to... Read More

2 financial planning tools that can help manufacturers weather uncertainty

Manufacturers are facing uncertainty on a variety of fronts. Rapidly shifting tariff policies, supply chain disruptions, fluctuating demand and rising raw material costs are likely among the factors creating shaky ground for your business. But two proven financial planning tools can help you better navigate the instability: rolling forecasts and financial modeling. 1. Rolling forecasts Many... Read More