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  • Six Common Accounting Mistakes Construction Companies Need to Avoid

    By MarksNelson on June 4, 2018
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    You’re probably familiar with the term “crunch the numbers.” Well, in a tumultuous industry like construction, it’s all too easy to let crisp, timely financials go soggy with outdated data and flat-out mistakes. Here are six common accounting mistakes to avoid.
  • Leasing Property to Your Business Might Trigger Undesirable Tax Consequences

    By MarksNelson on May 4, 2018
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    If you own property and a business, there’s an obvious temptation to lease that property to the business. Such an arrangement can make sense from many perspectives.
  • Additive Manufacturing Has Many Tax and Accounting Implications

    By MarksNelson on May 4, 2018
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    Many businesses and firms think 3D printing is too expensive to integrate into their operations. Yet today, there are many reasonably priced, consumer-grade 3D printers available, and the applications for this additive manufacturing process are seemingly endless.
  • F&I Industry Trends 2018

    By MarksNelson on March 26, 2018
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    It’s a good time to be in the automotive industry — or any business, as long as the stock market continues to hit record highs, unemployment remains low, and consumer confidence stays strong. But auto dealers will continue to rely on F&I to maintain profitability, bring customers back for maintenance and repairs, and create opportunities for participation in reinsurance programs.
  • Claim a Tax Credit for Renovating Historic Real Estate

    By MarksNelson on March 22, 2018
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    If you are in the process of restoring an older building, it may be worth your while to find out whether the building can be certified as a historic structure. As long as the rehabilitation of the building meets certain qualifications, you may be able to receive a federal tax credit equivalent to 20% of your renovation costs and a state tax credit equal to 25% of your renovation costs.
  • How the Tax Cuts and Jobs Act is Impacting Your Real Estate Business

    By MarksNelson on February 21, 2018
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    President Trump signed the Tax Cuts and Job Act ("Act") in December 2017 implementing the largest revision to federal income tax laws in decades. Nearly every industry is feeling the impact. For real estate trusts and taxpayers involved in the real estate business, the changes are significant in six key areas.
  • Eight Ways the New Tax Law Affects Construction Companies

    By MarksNelson on February 6, 2018
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    Construction companies are already feeling the impact from the new federal tax law.
  • Hiring the Right Contractor For Your Historic Tax Credit Project

    By MarksNelson on January 30, 2018
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    Historic rehabilitation projects can be complicated and the federal and state submissions requirements challenging. A key team member in this process is the contractor. Finding the right contractor who understands the program and appreciates the historic requirements can make the process much easier. Here are five things to consider when hiring a contractor for your next historic tax credit (HTC) project.
  • Should Manufacturers Buy or Lease Large Equipment?

    By MarksNelson on January 8, 2018
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    The Financial Accounting Standards Board issued an update that will significantly change the way in which lessees and lessors account for leases. The change, which takes effect in 2020, will require businesses to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements.
  • Consider Separating Real Estate Assets From Your Business

    By MarksNelson on January 4, 2018
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    Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on the property. Or legal liabilities encountered by the company could affect property ownership. But there are valid and potentially beneficial tax reasons for holding real estate in a separate entity as well.