5.31.24
Does Your Nonprofit Need an Annual Audit?
I’m frequently asked the question as to whether a nonprofit needs an annual audit, and the answer is that it depends. Although there’s no federal…
5.31.24
When Do 501(C)(6) Organizations Risk Their Exempt Status?
Even when they’re nonprofits, trade associations and chambers of commerce generally qualify for a tax exemption under Section 501(c)(6) of the Internal Revenue Code, not…
5.31.24
Building a Better Nonprofit Rules for Restructuring
There are many reasons why a 501(c) tax-exempt organization might consider restructuring. For example, a financially struggling nonprofit might decide to join forces with another…
5.31.24
Nonprofits: Take Another Look at Inflation Reduction Act Tax Breaks
When the Inflation Reduction Act (IRA) became law in late 2022, you might have assumed that the tax breaks it contained wouldn’t affect your tax-exempt…
5.31.24
Best Practices for Offsite Construction Project Management
Under the offsite construction model, major building components or even entire modular structures are prefabricated in manufacturing facilities and transported to job sites for assembly.…
5.28.24
Should You Convert Your Business From a C to an S Corporation?
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited…
5.21.24
Meals & Entertainment: What Can Your Construction Company Deduct?
The Internal Revenue Service (IRS) generally limits the deductibility of food and beverage expenses associated with operating a trade or business to 50%. Activities that…
5.21.24
Insuring Construction Projects Under a CCIP
Construction projects are inherently fraught with risk. That’s why having the right insurance in place is critical for all parties involved. For contractors, however, adequate…
5.21.24
Group Captive Insurance May Suit Construction Companies
Construction is a highly competitive industry notorious for its razor-thin profit margins. That’s why it’s important for contractors to identify every possible way to reduce costs,…
5.21.24
How Construction Businesses Can Better Manage Their Money
For construction businesses, financial management is notoriously complex. Contractors have to deal with the ebbs and flows of their respective markets, project-based pricing and collections,…