President Biden recently unveiled his new $2.3 trillion infrastructure package, the American Jobs Plan. The construction industry will benefit in several ways, but there are mixed reactions on different aspects of the legislation.
Even in a post-coronavirus economy, the potential for another public health crisis or national emergency remains elevated. What can construction companies do to protect their assets and plan for another site shutdown?
Since the Tax Cuts and Jobs Act, the treatment of 1031 exchanges has been more complex, nuanced, and limited according to varying definitions of real property. Now with final regulations, real estate investors can make more informed decisions about which properties qualify.
The construction industry has been up and down the past few months. What seemed like a rebound in August going into September turned around by December. Early in 2021, backlogs are down, prices are up, and contractor optimism remains.
A new but perhaps little-known law in the State of Virginia requires that all employers, labor organizations, and hiring halls report information about newly hired independent contractors to the state’s New Hire Center.
Few contractors give much thought to state sales tax when they’re installing property improvements for a customer.
What does it mean to be a real estate professional? For many, the answer is straightforward: they’re landlords, property developers, contractors, and investors.
Commercial real estate leases are changing. And according to the New York Times, banks currently hold about $2.38 trillion of commercial real estate loans. As tenants renegotiate their leases, building owners and landlords will likely be asking banks to restructure their loans, too.
Before the coronavirus hit, the outlook for commercial real estate was strong. Many experts were predicting another year of record growth. Others, at the end of 2019, couldn’t even pinpoint a near-term recession.
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.