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Accounting, Tax Strategies, and Business Advisory Insights and Guidance for Construction Companies and Contractors

 

What is keeping construction firm owners and executives occupied these days? Combine tax, audit and business planning complexities with the realities of an economic downturn, and add firm continuity and succession problems into the mix, and you will get an idea of what is top of mind in in this community.

Read what Bonadio's CPAs and management consultants have to say about a wide variety of these issues for consruction firms and contractors in throughout upstrate New York.  Share your observations and insights with peers, and subscribe via the Community's RSS feed to get our latest postings via e-mail or through your reader.

 

We all know we need to save for retirement, especially as another year has passed us by. But as a small business owner, what is the best way to do so? That depends on a number of things. There are various small business retirement plans available, but picking the right one for your situation depends on how much cash you want to put into it, your tax situation, your goals for providing for your employees, the time of year, etc. Let’s look at a general overview of some options and then some things to consider when deciding on which plan would be best for your situation.

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ESOPS are not for everyone, particularly construction companies - especially not now with everything the construction industry is going through in today’s economic environment.

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How about a financial checkup?

As individuals delve into gathering their tax information this time of year, they often get thinking about their finances in general. Why not take advantage of your focus in this area to do a financial checkup?

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Employee Benefit Plan Management
Best Practices for Benefit Plan Management

The highly regulated employee benefit plan world experienced even further governance during 2010. Now that the pressure of the October 15 filing deadline have passed, Kevin Testo, CPA has some insights and guidance on what Plan sponsors  can do to improve the day-to-day operations of managing their employee benefit Plan. Read more on Kevin’s five recommended best practices

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With numerous tax cuts set to expire at the end of 2010, the probable tax rate increases create a unique planning opportunity for the vigilant business owner.  If you’re an S-Corporation that previously existed as a C-Corporation, Adam Thaine, CPA and Tax Manager, has some advice for you.

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