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The path of LEASE resistance
It always amazes me the infinite possibilities that we encounter every day. Each decision results in new opportunities and challenges. Minor decisions that we think little of could have significant implications. When setting off on any journey, it is important to plan out your path and try to mitigate obstacles, so you do not lose […]
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How the Events in Ukraine Could Lead to Increased Cybersecurity Concerns
As the situation in Ukraine continues to develop, one area that could impact U.S. construction companies is the potential for increased cyber-attack activity. Companies should take time to continue to educate their employees of the risk of cyber activity and make sure their systems are protected. For more insights on this topic, please read this […]
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ERC Grants, Accounting Considerations
By now many businesses have applied for and received Employee Retention Credit (ERC) grants. Now you likely have questions regarding accounting for and reporting of these transactions. Accounting Considerations Construction entities who receive ERC grants likely analogies to one of the following accounting alternatives: IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, […]
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Things Have Changed, Pass Through Entity Tax
By now you may have heard that many states have enacted state pass-through entity-level taxes (PTET). We discussed this in a previous blog State Pass Through Entity Election – Is it right for your business? We would now like to explore the accounting treatment for this matter. Accounting Considerations FASB ASC Topic 740 provides guidance […]
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Take Advantage of the 45L Credit for Residential Buildings Through 2021…and Let’s Hope it Gets Extended for 2022 and Beyond
Authored by Patrick G. Risse (Energy Tax Credits : All Construction : Industries : CLA (CliftonLarsonAllen) (claconnect.com) The Energy-Efficient Home Credit, also known as the 45L credit, is currently available through December 31, 2021. We are all waiting and watching to see what happens with the credit’s future for 2022 and beyond. In the meantime, […]
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Lessons Learned in 2021 as We Kickoff 2022
As 2021 turns into 2022, the construction industry has several positive signs pointing to a good start to 2022. We have seen job starts get back on track, new contracts are getting signed, backlogs in many areas/segments continue to be at record levels and many Privately held construction companies continue to see strong profitability and […]
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CLA and Acumatica Launch!
We are excited to announce that CLA and Acumatica have joined forces to deliver a seamless digital platform to the construction industry. Digital transformation has been a priority at CLA and this relationship with Acumatica further delivers on our commitment to our clients to provide updates and insights to the trends in the construction industry. […]
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Tight Job Market for Executives Could Get Even Tighter
Authored by John Duffy, CLA Executive Search Consultant, John.duffy@claconnect.com Even prior to the pandemic it was a very challenging market for C-Suite talent in the construction industry. Occupational data from such organizations as Emsi (See Note 1) was consistently showing the ratio of open C-level construction jobs to filled jobs at 3:1. During the pandemic […]
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Changes to the Business Interest Limitation Could Affect Contractors in 2022
authored by John Werlhof : Professionals : CLA (CliftonLarsonAllen) (claconnect.com) Following the tax reform bill passed in 2017, the deduction for business interest is generally limited to 30% of adjusted taxable income (see CLA article March 2018 Dissecting the Business Interest Expense Limitation : 2018 : Articles : Resources : CLA (CliftonLarsonAllen) (claconnect.com). Depreciation has […]
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“Traditional” or “Reverse” Year End Tax Planning?
The Biden Administration remains committed to its “Build Back Better” (BBB) economic stimulus and social spending plan despite failing, so far, to muster support in the Senate to advance the package. It is now clear that 2021 will conclude quietly, with tax reforms (if they happen) waiting for 2022. Concerns about rate increases earlier in […]
