Have you ever completed a job only to realize that the cost of performing the work equals or exceeds the revenue that the project brought in? This phenomenon is called “profit fade” and, if it occurs repeatedly, it can prove fatal to your business. Although profit fade could threaten any construction business, it’s a particular concern… Continue reading

You’ve worked a lifetime to build your wealth and understandably want to pass much of it on to your loved ones. Estate plans are designed to help you do that in the most tax-efficient way possible. But first, to ensure you have something to leave, your estate plan should protect and preserve your assets. Here’s how… Continue reading

Preparing for a surge in demand for your business’ products and services doesn’t mean you have to go out on a financial limb. But some contingency planning may be in order. The Federal Reserve Bank of Richmond is a helpful source for data and analysis on where the national economy is heading. It provides a peek… Continue reading

Pulling in revenue that will ultimately boost the bottom line is the goal of every business. However, keeping your company in prime shape to seize profitable opportunities and overcome financial challenges is related to another objective: having a healthy cash flow. Every organization, if it’s around long enough, will experience strong economies and repressed ones.… Continue reading

Many not-for-profit organizations have been hanging on for dear life for the past year. But the days of survival mode are coming to an end. Now, nonprofit leaders need to be innovative to position their organizations for future growth. In other words, if you’re not moving forward, you’re moving backward. But how do you cultivate a culture… Continue reading

Do you own a vacation home that’s classified as a rental property for tax purposes? Rental property owners may be tempted to use their rental properties for their personal “staycations” or as remote office locations during the COVID-19 pandemic. But this could cause adverse tax consequences, depending on your situation. Here’s what you need to… Continue reading

If you have employees working from home and you want to transition them back to the workplace as the economy picks up, you may find it’s harder than you once thought. For some employees, nervousness about remaining health risks is an impediment—especially for those who haven’t been vaccinated. Many Americans clamored to be vaccinated earlier… Continue reading

Multitasking might be the key to success in many jobs in today’s work environment, according to at least one study. Despite other research concluding that continually switching from one task to another is a drag on productivity and perhaps even dangerous, one lead researcher believes multitasking may be getting a bad rap. There’s a popular misunderstanding… Continue reading