By Randy Gieseking, President of Safety Management Group Over three decades in the field, it has become evident that safety extends beyond compliance; it involves addressing the real challenges faced daily by workers, owners, and contractors on the ground. Recently, a senior safety advisor observed that a worker appeared to be struggling. After initiating a conversation, .....
By Jay Langston and James Hamilton For many general contractors, taking on work in a new state or region can offer transformative opportunities for building a thriving business and a respected reputation. But managing projects is challenging enough – even if the jobsite is down the street and all members of the project team are familiar .....
A construction business whose structures collapse is doomed to failure. This is why blueprints are drawn and foundations must be solid. A construction business that fails to keep its books is equally at risk of failure. If a construction business fails to track income and expenses, materials can’t be ordered, paid for, and their delivery .....
by Steve W. Smith In recent years, the U.S. construction sector has been caught in a perfect storm: a dwindling pool of skilled laborers just as demand for their expertise skyrockets. According to data from the Associated Builders and Contractors (ABC), the industry is grappling with a deficit of 501,000 workers to satisfy existing demand. What’s .....
By Jeff Schreifels Back in my direct response days, August and September were crucial months to set the tone for the year-end fundraising push. But what you may not realize, if you haven’t been in direct response or annual giving, is that year-end planning starts months in advance. (Think… March.) Yet, too often, mid-level and major .....
By Anita Dennis Many not-for-profit organizations dread the unrelated business income tax (UBIT) because it can be a challenge to sort out when a not-for-profit’s activities are subject to the tax and when they are not. However, it’s important that organizations that qualify as tax-exempt get their arms around UBIT’s uncertainties. More than 80,000 exempt .....
Have you been hearing the term CECL in financial and accounting circles? CECL, pronounced “sea seal” is the common short-hand for Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (topic 326). CECL doesn’t just apply to financial institutions, it applies to nonprofits too. The main goal of the standard is to .....
By Paul Clolery Nonprofit employees with 403(b) retirement plans would be able to participate in collective investment trusts (CITs), if new federal legislation passes and is signed into law. A CIT is a tax-exempt investment vehicle that is similar to mutual funds that provides a diversified, pooled investments. Under current law, 401(k) holders, 403(b) plan .....
As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a comfortable and secure future. This article outlines essential tax and financial planning strategies tailored to the unique needs of individuals nearing retirement. By understanding and implementing these strategies, you can navigate the complexities of retirement planning with confidence. Understanding Retirement .....
The Employee Retention Credit (ERC) was introduced as a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to help businesses keep employees on their payroll during the COVID-19 pandemic. The credit was designed to provide financial relief to businesses that experienced significant declines in revenue or were forced to suspend .....