By MarksNelson on June 4, 2018You’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 Well, in a tumultuous industry like construction, it’s all too easy to let crisp, timely financials go soggy with outdated data and flat-out mistakes.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.
By MarksNelson on May 4, 2018If 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.
By MarksNelson on May 4, 2018Many 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.
By MarksNelson on March 26, 2018It’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.
By MarksNelson on March 22, 2018If 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.
By MarksNelson on February 21, 2018President 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.
By MarksNelson on February 6, 2018Construction companies are already feeling the impact from the new federal tax law.
By MarksNelson on January 30, 2018Historic 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.
By MarksNelson on January 8, 2018The 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.
By MarksNelson on January 4, 2018Many 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.
There is no substitute for personal attention. It enables us to truly connect, so we can understand your perspective, anticipate your needs and provide the best solutions. That means real conversations, not impersonal emails.
At MarksNelson, we think curiosity is a virtue. After all, any accountant can focus on your numbers. We get down to business by first learning yours, inside and out. Our associates work to understand not only what you do, but why you do it.
The team at MarksNelson believes that the smallest point can be just as important as your biggest line item. Our goal is to deliver a quality product, prepared with great attention to detail and accuracy. Whatever industry you are in.
We work to be vigilant with everything we do. But why? The truth is... every firm says they will put you first. MarksNelson does more, by keeping on track and informed. We want to collaborate with you to provide you with the solutions that you need.
At MarksNelson we are always hiring and seeking new talent. Click below for available positions.
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