Submitted by Bryan Eto, CPA BeachFleischman The federal self-employment (SE) tax just keeps going higher and higher. If you’ve reached the breaking point, there may be a way to tame the SE tax beast by converting your existing unincorporated small business into an S corporation. How to evaluate the option If you’re a self-employed individual — meaning …
Should you convert your Single Member LLC to an S-Corporation? Read More »
‘BIM’ around the block! Building information modeling (BIM) has been around for about 50 years now (Wikipedia). Yes! You read that right – 50 years. Though in the 1970s when the concept was developed, BIM (as we know it today) wasn’t really implemented until the late 1980s. So I guess we can say, it has …
Don’t Underestimate: Building Information Modeling (BIM) Read More »
by Joanie Hollabaugh, Sr. Director of Marketing and Mark Jensen, Director of Business Development Planning a Company Growth Strategy If you’ve ever been through a Strategic Planning exercise for your company (and I highly recommend it), you are instructed to brainstorm your goals and KPIs in phases. Often companies are so caught up in the …
01Submitted by Bryan Eto, CPA BeachFleischman Quarter million (plus) in losses! Internal fraud drains more than $3.7 trillion annually from global businesses, according to an estimate by the Association of Certified Fraud Examiners (ACFE). The median loss from internal fraud at companies in the construction industry is $259,000, according to ACFE’s latest Report to the …
Submitted by Bryan Eto, CPA BeachFleischman Has your company invested in buildings this year to rent out or use for business purposes? Real estate investors have used cost segregation studies for many years to lower their tax bills. In a nutshell, these studies divide property into smaller parts, allowing for faster depreciation of certain parts of …
Tax Savings from Cost Segregation Studies Add Up for Businesses Read More »
Link financial and operational efficiencies Good Project Management software (aka the PJ in Sage 300 CRE) should tightly link financial and operational efficiencies, which will allow you to grow your business. By using best practices, it should eliminate duplicate processes and data and share that centralized data across business units. Fortunately, the Project Management module in …
Create separate configurations for production and testing by Renee Mullen, Sage Marketing Manager With the newer versions of Sage SQL Estimating there have been new functions within the software — did you know there is a functionality surrounding the Database platform itself? SQL itself brings a great deal of functionality and resources to its users …
Integration: The whole becomes greater than the sum of its parts Adding an application that fully and properly integrates with your primary data will expand your capabilities! Realize the potential in the power of software integration. Think about your software and what was implemented first – General Ledger, Payroll, Accounts Payable, Job Cost. You might also …
Borrow from the ‘biggies’ when it comes to cybersecurity Cybersecurity is a significant priority for everyone these days. It can also be a complex and confusing issue. Like many business problems, the best way to start is with an overall strategy. Googling “cybersecurity” produces some interesting information about the variety of strategies. And to be …
Submitted by Bryan Eto, CPA BeachFleischman Want guaranteed profits? Manage your job costs! Job costs are the lifeblood of your construction business and accurately estimating them will determine if a project will make money. Managing job costs across the life of the project will ensure that your firm makes money on every job. Moreover, those job-by-job …
by Renee Mullen, Sage Marketing Manager Do you have too many old estimates (SQL) taking up space? Would you like to back them up Give your SQL instance some elbow room and move them out of the SQL instance? How to archive SQL estimates outside of the SQL instance. Furthermore, if you need the estimate …
