5 min read
Have You Considered These SECURE 2.0 Retirement Saving Provisions?
President Biden signedthe Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) on December 29,...
Financial planning for getting work done
The construction industry is unique and challenging. The rewards can be great; the failures, devastating. As a result, the contractor must constantly be alert to changing conditions. The construction industry requires considerable short-term and long-range planning—not only for the actual construction process, but also in meeting the company’s goals for bonding, adequate bank financing and taxes. Effective interplay between these areas will help enhance your profitability.
SSB understands that the construction industry requires specialized knowledge, technology and expertise. Our team of trained strategic advisors will work with you to identify your short-term and long-range needs and develop a plan that will help you and your business succeed in this uniquely challenging industry.
Recommendations to improve working capital to help increase bonding and financing capacities
Analysis of bidding procedures
Overhead analysis
Development of cost information to support contract claims and extra work orders
Guidance on insurance needs
Evaluation, development and installation of accounting and job cost systems
Preparation of budgets and projections
State contractor prequalification and licensing reports
Financial statements prepared according to present industry standards—an important tool in determining your bonding capacity and in obtaining financing.
Coordination of business and personal tax planning
Income and cost recognition methods, look-back regulations and alternative minimum tax provisions
Multistate issues—nexus, sales and use tax, franchise, income and other taxes
Equipment leasing company considerations
Structuring of business entities
Business continuation/succession planning
Analysis of potential acquisitions and mergers
Estate planning
Jan 26, 2023
President Biden signedthe Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) on December 29,...
Jan 24, 2023
How inventory is accounted forcan have a significant impact on your tax bill if your business involves the production,...