Here are six ways contractors can increase cash flow and conserve cash to mitigate the ongoing ripple effects of the COVID-19 pandemic.
The architectural and engineering industries can benefit from federal and state R&D tax credits. Here’s what you need to know.
Along with construction backlog, two big concerns are finding skilled workers and keeping profit margins from decreasing. Here are five ways you can do so.
Construction companies have long been known for their true grit and determination to get things done. In the wake of the current pandemic, this true grit takes on a whole new meaning.
The DOD has released guidance around the PPP for federal contractors, specifying what contractors cannot bill for.
Contractors must make an economic uncertainty certification in good faith when applying for a PPP loan. Here are tips on how you can support this with evidence.
The CARES Act can help construction and real estate business owners protect their personal finances in a variety of ways. We’ve put together four strategies.
The COVID-19 construction industry impact makes these four steps critical for CRE companies.
The CARES Act has made many positive tax-related changes for construction and real estate firms, including fixing one big TCJA error.
Biden tax proposals seek to reduce like-kind exchange benefits, the step-up in asset basis at death and the 20% QBI deduction. We discuss the real estate impact.
Biden tax proposals seek to increase capital gains rates, tax carried interests at ordinary income tax rates, limit the deduction of business losses and more.
The Consolidated Appropriations Act has extended the 45L tax credit — aka the energy efficient home tax credit — through December 31, 2021.
The section 179D tax deduction has been made permanent by the Consolidated Appropriations Act of 2021, with a deduction that will be adjusted for inflation.
IRS Notice 2021-10 provides extended guidance and relief for various opportunity zone requirements, including those impacting qualified opportunity funds.
From PPP loans, to the Low-Income Housing Tax Credit, to rental assistance, here’s how the Consolidated Appropriations Act impacts real estate companies.
The CARES Act provided a technical correction for the “retail glitch” in the Tax Cuts & Jobs Act creating a trap for real estate firms to lose deductions.
In the middle of rapidly changing guest health and safety concerns, creating customer delight during the COVID-19 pandemic is essential for the hospitality industry.
The IRS has extended and expanded qualified opportunity fund relief, further easing opportunity zone regulations during the COVID-19 pandemic.
Landlords are facing many issues due to COVID-19. Here we breakdown the tax rules applicable to modifications or terminations of lease agreements.
During COVID-19, many landlords are facing late or unpaid rent from their tenants. This article covers the tax rules applicable to late and unpaid rents.
There are two huge tax relief options that can help real estate brokers weather the impact of COVID-19. Learn more.
Real estate brokers: Figuring out your PPP and EIDL eligibility and how to calculate your loan amount
Real estate brokers, this is the ultimate COVID-19 resource. We go through how to calculate your PPP loan amount, plus eligibility and fund usage restrictions.
Thanks to the CARES Act, the retail glitch has finally been fixed. And it applies to non-retail commercial properties too. Learn more.
Watch this free webinar as we dive into seven functions within your business and describe various options for you to consider as you position your business to thrive in the “new normal.”
During this webinar, we addressed the following topics:
- Technical updates in 2020
- Market update
- How does this look from the construction side?
Listen to our panel of construction and real estate professionals discuss the latest updates on opportunity zones and tax saving opportunities for your business.
Watch this webinar to gain insight on the following topics:
- Overview of CARES Act
- Net operating losses & excess business losses
- Qualified improvement property
- §163(j) – Business interest limitation
- Miscellaneous CARES Act updates
- §1031 updates
- Opportunity zones updates
This webinar addresses:
- Enabling remote access to your work computer and applications.
- Setting up and configuring collaboration tools.
- Migrating your files to the cloud.
Watch this free, on-demand webinar to learn about ways to minimize fraud, spot poor cash management and prevent costly mistakes among newly remote staff and the essential crews still reporting to far-flung sites.
Watch this free on-demand webinar to dive into these key areas:
- Review of where I am today
- The reimaging of my transition plan
- How do I resolve my plan?
We’re here to help you.
Wipfli has been working with manufacturers for over 90 years to innovate and unlock the full potential of their business. Because COVID-19 has had such a huge impact on the U.S. economy and companies both small and large, we’ve pinpointed ways we can help manufacturers face their challenges head on and put themselves in the best position to succeed going forward.
- Enabling remote workers
- Supply chain response and strategy
- Trimming indirect expenses without affecting production
We also offer a full suite of solutions to help you with your finances, sales, operations, people and technology.
Featured Thought Leader
Michael R. Benes, CPA, CFF
Mike has over 30 years of experience exclusively dedicated to providing consulting services to the construction industry. He specializes in providing operation improvement studies, strategic planning, dispute resolution, and litigation support to real estate developers, property owners, engineers, architects, general contractors, construction managers, and subcontractors throughout the country.
James D. Lockhart, JD, LLM, CPA
Jim has nearly 20 years of experience dedicated to providing extraordinary, proactive advice to help construction and real estate organizations succeed and grow. He serves a full range of construction, real estate, and hospitality organizations, specializing in investment and development due diligence, financing, tax and business structuring, construction services, and exit strategies.
Brad Werner, CPA, MBA
Brad Werner is the Chicago market construction and real estate practice leader and an audit partner whose primary focus is on attest and accounting services. Working closely with members of management to improve their overall operations, he provides value to clients by offering broad experience in many industries and aspects of accounting and financial reporting. Brad ensures efficiency through solid planning and organizational skills in coordinating all aspects of each engagement. He effectively communicates complex accounting issues and solutions to his clients, enhancing overall retention.
Reed D. Sellers, CPA, CCIFP
Reed Sellers is a senior manager in the firm’s Loveland office and works primarily with closely held private companies, providing audit, tax, and consulting services. He concentrates on the construction industry, with in-depth experience with general and specialty contractors, unique financial statements, and tax considerations.