Moving You Forward
As you navigate this new business environment, leaders need the right guidance and direction to move forward. Tap into our customized tax, audit, accounting and business advisory solutions to help you recover from disruption and grow stronger. Contact a PBMares advisor today.
RECENT INSIGHTS:
Succession Planning for Construction, Part 2: Four Common Transition Options
The familiar saying “failing to plan is a plan for failure” is spot on, especially for construction companies facing a transition in leadership. Without enough time to plan for the owner’s exit, any of the following scenarios can easily lead to a construction company in chaos.
Deduct Some Losses Due to COVID-19 on Your 2019 Taxes
Over the past several weeks, there has been a lot of attention regarding the tax provisions and federal loan programs such as the Paycheck Protection Program included in the CARES Act.
Expanded Relief to Plan Participants for Coronavirus-Related Distributions
On June 19, 2020, the IRS issued Notice 2020-50 that expands the categories of individuals eligible for plan distributions and plan loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
New Guidance on When to Apply for PPP Loan Forgiveness, Owner-Employees, and Excepted Employees
New guidance released on June 22, 2020, provides businesses with information on when they are able to apply for loan forgiveness, caps on employee-owner compensation, and some clarification on excepted employees in FTE calculations.
IRS Allows the Ability to Rollover Required Minimum Distributions in 2020
On Tuesday, June 23, 2020, the IRS issued a notice clarifying the recent waiver of required minimum distributions (RMD) from retirement plans in 2020.
Succession Planning in Construction, Part 1: How Owners Can Get Started
As the leader of your construction company, how much time have you spent envisioning your retirement, or the process leading up to it?
