Connelly vs. United States Decision: What It Is After Michael Connelly died, his family got an unexpected bill from the IRS for $889,914. Why? An auditor reviewing Michael’s estate tax return disagreed with the stated value of the shares in Crown C Supply, the company he owned with his brother. Although his estate was bought […]
Will Your Buy-Sell Agreement Demolish Your Estate Plan? Read More »
We recently learned from Withum, CPA\’s that the Financial Accounting Standards Board long anticipated new accounting rules for leases is now in effect for nonpublic companies whose fiscal year began after December 31, 2021. In simple terms, most every lease for lessees will no appear on a company\’s balance sheet. The present value of all
New accounting requirements for leases take effect Read More »
Construction Input Costs and Overall Inflation on the Rise: With fiscal stimulus checks hitting bank accounts across the United States this month and tax refunds rolling in, we have our eyes on construction input inflation, as well as inflation in the broader economy. Earlier this month, Associated Builders and Contractors reported that nonresidential construction input
Protecting your Profits Amidst Rising Inflation Read More »
If your Florida construction business has been impacted by COVID19/coronavirus, you might be eligible for a disaster loan to provide liquidity for your business. Florida is providing a short term (<1 year), $50,000 bridge loan at https://floridadisasterloan.org, which is helpful if you need cash now. If you can afford to look at other options, I
Disaster Loans for Florida Construction Businesses Impacted by COVID-19 Read More »
