It’s that time of year again! As we near the end of 2022, it’s time to focus on year-end closing preparations. In the fourth quarter of the year, your team will be compiling, reviewing, and reconciling, so start early and plan ahead.
President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.
If you’ve recently filed or plan to file for the Employee Retention Credit (ERC), expect about a six-to eight-month wait to receive your credit.
As the first quarter of the year winds down, it is time to look at strategies and initiatives that will help your business grow. Below are six areas construction businesses should consider investing their resources in 2022.
Taking some time to get organized before it’s time to file will make the season run much more smoothly. The construction Services team at Corrigan Krause compiled the list below to help construction business owners to start getting prepared for tax season.
Across all industries, financial statements provide valuable information about a company. Internally, the statements are a good way to keep track of where issues might arise throughout the year, ideally, catching a problem before it becomes expensive to solve. Externally, accurate financial statement presentation is the proof banks, bonding companies, and any other third party will want to see to determine if they will grant your company the line of credit, loan, or bonding coverage that you’re applying for.
Every business should have an A Team. Your A Team is includes your trusted accountant, attorney and financial advisor. Having a strategic A Team in place allows your advisors to work together on the big picture.
Lease accounting standards are changing, aiming to improve transparency and make it easier to compare statements. Here’s what construction companies need to know.
Updated December 2021: Over the past fourteen months, the employee retention tax credit has undergone a number of changes since it was initially introduced. The most current information is in the Current Employee Retention Tax Credit Standards: American Rescue Plan Act – March 2021 section, but we recommend reading everything below to understand the full picture of the employee retention tax credit.