Vexing Questions in the Construction Business—and in the MetaverseMarch 8, 2023
Construction companies build the world around us. They’re also impacted by the world around them. Virtually every economic trend, market condition and regulatory change directly affects builders in some form. In its 2023 forecast, the Construction Financial Management Association (CFMA) discussed material costs, infrastructure opportunities, the labor squeeze and more. Now well into 2023, we …
Inflation Reduction Act: What’s in It for Construction CompaniesAugust 24, 2022
With the Inflation Reduction Act now signed into law by President Joe Biden, it’s time to wrap our heads around what it means for businesses, individuals, and our country at large. Construction companies, in particular, could see some opportunities stemming from the bill’s focus on green energy, but those opportunities will certainly come at a …
New Jersey Pass – Through Business Alternative Income Tax ActOctober 27, 2020
Legislation was passed on January 13, 2020 establishing a pass-through business alternative tax (PTBAT). How Does It Work Starting in 2020, pass-through entities may elect to pay a PTBAT. Paying the tax is an annual election. The tax is based on each member’s share of distributive proceeds. Distributive proceeds mean “net income, dividends, royalties, interest, …
A Guide to the Different Types of Business Valuation MethodsJanuary 17, 2020
By: Roy H. Kvalo, CPA/ABV/CFF/CGMA, CVA, Director of Litigation & Valuation Services In 2018, 10,312 businesses exchanged hands across the United States. That was a 4% uptick in acquisitions from 2017. Various reasons might cause you to want to sell or buy a business. No matter the reason behind each transaction, the one constant is …
8 Crucial Ways to Protect Yourself from ATM and Mobile Security FraudJanuary 17, 2020
By: Carolyn Giunco Kvalo, CPA/CGMA, CFE, Managing Partner Anyone who has a bank account or credit card runs the risk of being defrauded. Learn how to protect yourself from ATM and mobile security fraud in this article. Did you know that more than 15 million Americans are victims of identity theft every year? Identity theft …
7 Effective Tax Saving Tips You Need to Know: 2020 EditionJanuary 17, 2020
April is tax season, and for some people that can be scarier than Halloween. The average American can expect to pay a little over $10,000 a year in taxes, or 14 percent of their household income. That’s a sizeable tax bill and one that many people would rather not have to shoulder. Fortunately, there are …
The 5 Keys to a Great Business Relationship with Your AccountantOctober 31, 2019
Maintaining success in the A/E/C industry requires more than simply delivering on projects. Owners have tax planning, compliance, cash flow management, employee benefits, and many other financial controls to put in place alongside estate and succession planning. You need more than number crunching from your accountant, including: 1. Time Your CPA should invest in learning …
What is Forensic Accounting? Everything You Need to KnowAugust 15, 2019
There are 3,483 forensic accounting offices in the US. In 2018, it was a $4 billion industry. Thanks to an uptick of fraud happening to businesses, forensic accounting continues to be a growing business. In fact, most businesses lose around 5% of their total revenue each year to fraud. Small businesses with fewer than 100 employees are particularly vulnerable. …
Are Your Federal Tax Withholdings Accurate?August 8, 2019
It’s in the books—the first tax season under the Tax Cuts and Jobs Act of 2017, that is. We knew a lot of what to expect from the new tax law, but one aspect that upset many taxpayers was the epic failure of the updated withholding tables. In other words, employers didn’t withhold enough. So …
How to Make Your Seasonal Income Last Through the WinterJuly 10, 2019
Business cooling off and heading into the off-season? Worried if you’ll pull through the long winter? Use these suggestions to stretch your seasonal income. Tourism is a major economic engine throughout the state, generating over $41 billion in 2016, with growth expected through 2021. This growth isn’t limited to the Jersey Shore, either. Passaic and Mercer Counties …