Insights
New Overtime Reporting Under the OBBBA
By: Wallace “Wally” F. Suttle II, CPA We hope the new year is off to a good start for each of you but wanted to take this opportunity to make you aware of a payroll reporting change that was a result of the One Big Beautiful Bill Act (OBBBA). As you may remember OBBBA included…
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Important 2026 tax figures for businesses
A new year brings many new tax-related figures for businesses. Here’s an overview of key figures for 2026. Be aware that exceptions or additional rules or limits may apply. Depreciation-related tax breaks Bonus depreciation: 100% Section 179 expensing limit: $2.56 million Section 179 phaseout threshold: $4.09 million Qualified retirement plan limits 401(k), 403(b) and 457…
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Not all “business” expenses are tax deductible
Valuation professionals often use discounted cash flow (DCF) techniques to determine the value of a business or estimate economic losses. A critical input in a DCF model is the cost of capital — the rate that’s used to discount future earnings to today’s dollars. Modest changes in this rate can have a major impact on…
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From Hard Hats to Shareholders: The Rise of ESOPs in Construction
By: Anthony Cornell, CPA In the landscape of modern business, employee ownership is gaining traction as a viable strategy for enhancing company performance and employee engagement. One of the most prominent methods of facilitating this ownership is through Employee Stock Ownership Plans. An Employee Stock Ownership Plan (ESOP) is a program that allows employees to…
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More individuals with disabilities will be eligible for tax-advantaged ABLE accounts in 2026
Did you know there’s a tax-advantaged way to save for the expenses of a person with a disability that’s similar to saving for college expenses with a Section 529 plan? Achieving a Better Life Experience (ABLE) accounts can help fund qualified disability expenses for an eligible beneficiary. The SECURE 2.0 Act, signed into law in…
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Changes to charitable donation deductions are on the horizon
Beginning in 2026, individuals who itemize deductions and donate to charity will face a new limit on their charitable deductions. And in some cases, they’ll face two new limits. But there’s some good news for nonitemizing individuals who make charitable donations. New charitable deduction floor Under the One Big Beautiful Bill Act (OBBBA), starting in 2026, if…
Read MoreA new year means new tax figures for individuals
Many tax figures are annually adjusted for inflation and typically increase each year (or at least every few years). For 2026, some additional changes are going into effect under the One Big Beautiful Bill Act, signed into law July 4, 2025. Here’s an overview of some important limits and other tax figures for 2026. Keep…
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Nail Your Numbers: Essential Financial Analysis and Ratios for Your Construction Business
By: Kristin Moody, CPA, CFE Preparing or analyzing financial statements can be a daunting task for owners or management with only an operational background or “on the job” accounting or financial experience. Financial statements or similar reports are useful tools for operating and managing a business, or planning for the business’s future. Knowing what goes…
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Year-End Tax Planning: Leverage Bonus Depreciation to Minimize Tax Liability
By: Wallace F. “Trey” Suttle III As the year draws to a close and your income projections become clearer, now is the ideal time to begin implementing year-end tax planning strategies to help minimize your potential tax liability. One of the most effective strategies available is bonus depreciation. Under the Tax Cuts and Jobs Act…
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2025 Year-End Reminders & Planning Tips
By: Morgan Hunt, CPA As the end of the year quickly approaches, we want to remind you of things to consider before December 31 and to provide you with some important reminders as you prepare for the tax filing season. Protect Your Personal Information – Identity Theft continues to be an issue for the IRS…
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