Construction contractors are in the business of documentation: contracts, reports, schedules, the list goes on. And that’s not including tax and financial records. Though most if not all this documentation is done digitally now, there are still questions about how long to keep certain records.
As supply chain issues continue to threaten construction industry growth, there are risk management and cash flow forecasting strategies that contractors can use to manage the uncertainty and stay on top of the changes.
Half of all real estate companies report being unprepared for a cyber attack. Understanding where risk comes from and how to prevent and mitigate data breaches can help companies avoid the costly effects of cybercrimes.
One in six construction companies fall victim to ransomware every year. They are at high risk for cyberattacks, yet most do not have a cybersecurity strategy. Understanding where risk comes from is a good start; proactively mitigating it takes teamwork.
Even as the housing market leads the U.S. economic recovery, homebuilders are facing new pressures as they try to meet surging demand.
The Protecting the Right to Organize (PRO) Act passed the House in March 2021. What’s next, and how is it poised to affect the construction industry?
Throughout 2021, Virginia has enacted several new labor and wage laws that increase employer liability. Construction firms and other employers should look closely at their contracts and other agreements to stay ahead of compliance.
A bipartisan infrastructure plan passed in the Senate has substantial implications for the construction industry. Project Labor Agreements remain a hot topic in negotiations, especially among construction stakeholders.
Rising lumber prices aren’t the only numbers that construction firms are closely following. Price surges across many construction inputs are creating supply and demand volatility and concerns of inflation.
Certain types of residential rental property placed in service prior to 2018 can claim a shorter depreciation recovery period, potentially generating significant tax benefits. Affected taxpayers have until April 15, 2022 to file an amended return.