You may have heard about the Vermont doctor who was fed up with way medicine is practiced today and opened an office she calls “Simply Medicine.” The sole practitioner doesn’t accept insurance. Her fee is listed on a board in the waiting room: $2 a minute for labor, plus the cost of supplies.Read more
Everyone struggles to keep up when business really takes off. Projects come all at once. You may hire additional field workers to meet the demand. Payroll is stretched because payments which come in on your new projects lag months behind the large sums you lay out weekly to pay your workers.
This type of project financing concern is not yours alone. All construction contractors face this type of project financing snafu to some degree. The basic problem is your firm gets paid months after you need the money to run your projects.Read more
Joint ventures are common in the construction industry, especially with large long-term projects. These collaborative arrangements allow construction firms to work together, for a limited time period, on one or more construction projects.
The upsides include pooling of expertise and resources, broader geographic reach, reduced risk, and enhanced financing and bonding capacity. But joint ventures also have potential pitfalls, so they need to be set up and managed with care.Read more
By David Butcher
For the real estate and construction industries, sensors, data and automation will increasingly define construction projects, as well as cityscapes. Illustrated by the fact that there are currently more than 1,000 on-going smart city projects around the world.Read more
On December 17, 2019, the Office of the United States Trade Representative (USTR) published a Federal Register notice granting more exclusions of products from the 25-percent duty imposed on the third tranche (List 3) of Section 301 tariffs on goods totaling approximately $200 billion. The published notices can be read here.Read more
By John Nuckolls
For understandable reasons, the United States has adopted a series of laws designed to prevent U.S. taxpayers from taking advantage of foreign trusts as tax shelters from U.S. income taxation. The obvious application of these laws is to a U.S. citizen attempting to transfer cash or income-producing assets to an offshore trust. When dealing with foreign trusts, however, these laws can apply in circumstances where unsuspecting non-U.S.-citizen taxpayers can be financially devastated by the consequences.
By Bethany Banks, CPA
There can be considerable confusion amongst taxpayers who face foreign taxes as to what is creditable and how to allocate, calculate, and carryforward/carry back. There can still be surprises for those who feel they have a good grasp on the basics. One of the areas that can take a taxpayer by surprise is handling foreign tax credit for high taxed income.Read more
A recent spending package signed into law by President Trump on December 20 retroactively resurrects and/or extends several key tax breaks through 2020. It also provides tax relief for victims of federally declared disasters. Here are ten breaks that can benefit eligible individuals.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was mainly intended to help individuals save more for retirement. But the new law also contains provisions that help simplify the administration of retirement plans for employers and allow more employees to participate in 401(k) plans. Here are some provisions that may affect business owners.Read more
When it comes to renting vs. buying a home, there are two parts to the analysis: 1) lifestyle and personal priorities, and 2) long-term financial planning. But the decision also involves timing, because many people are better off owning a home later in life when they’re more likely to be settled.