Excess Real Estate Losses Could be Permanently Eliminated in Build Back Better Act

The Build Back Better Act contains a lesser-known tax proposal to permanently eliminate certain excess business losses. Especially for rental real estate owners, the effect is potentially substantial.

2022-01-10T09:27:57-05:00January 4, 2022|Categories: Construction and Real Estate|Tags: , |

Potential Tax Changes to Real Estate Partnerships in Budget Reconciliation Bill

Several potential changes to partnership taxation may be coming for real estate partnerships in the federal budget reconciliation. If passed, partnerships may need to invest in real estate tax technology to stay in compliance.

Changes Coming in 2022 for QuickBooks Desktop

In 2022, QuickBooks Desktop is migrating two of its products, Pro and Premier, to a subscription-only software. Small businesses and other organizations have a few options, but limited time to decide their next steps.

2021-11-22T08:53:06-05:00November 17, 2021|Categories: Accounting, Construction and Real Estate, Small Business|Tags: , |

Record Retention List for Construction Contractors

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.

2021-11-08T16:42:44-05:00November 8, 2021|Categories: Construction and Real Estate|Tags: , |

Top Cyber Risks for the Real Estate Industry

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.

Cybersecurity Risks and Prevention Strategies for the Construction Industry

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.

How the PRO Act (As Written) Would Affect the Construction Industry

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?

2021-09-07T14:34:41-04:00September 7, 2021|Categories: Construction and Real Estate|Tags: , |

New Wage and Labor Laws Take Effect in Virginia

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.

2021-08-18T09:17:35-04:00August 12, 2021|Categories: Construction and Real Estate, Government Contracting|Tags: |

Bipartisan Infrastructure Bill: State-by-State Impact and PLAs

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.

2021-08-11T14:05:00-04:00August 10, 2021|Categories: Construction and Real Estate|Tags: , , |

Change in Accounting for Certain Residential Rental Property

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.

2021-08-26T13:49:04-04:00July 6, 2021|Categories: Accounting, Construction and Real Estate|Tags: , |
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