(Published in Construction Executive/May 2015 issue)
Most contractors that are still in business were able to cut costs and right size their balance sheets throughout the recession. Now they are looking to take advantage of growth opportunities in an effort to increase top line revenues and bottom line net income. Continue reading “Driving Profitability in a Thriving Economy”
Fundraising Madness Begins in Louisville
Fundraising Madness begins today as the 2017 Brackets for Good Louisville Tournament gets under way. For the third year, Harding, Shymanski & Company, P.S.C. is proud to return as a key sponsor of BFG Louisville. Continue reading “Fundraising Madness Begins in Louisville”
IRS Alert: New W-2 Phishing Scam is “Dangerous”
The Internal Revenue Service, state tax agencies and the tax industry issued an urgent alert to all employers that the Form W-2 phishing scam has evolved beyond the corporate world and is spreading to other sectors, including school districts, tribal organizations and nonprofits. Continue reading “IRS Alert: New W-2 Phishing Scam is “Dangerous””
Louisville Metro Requires Rental Housing Registry
(Published on Louisvilleky.gov, January 2017)
Effective March 1, 2017, all property located in Louisville Metro and occupied or offered for occupancy in exchange for money or any other consideration must be registered with Louisville Metro Government. Failure to register is subject to a fine up to $100 per day per housing unit.
To learn more about this change click the link to an article posted on the City of Louisville’s website https://louisvilleky.gov/government/codes-regulations/rental-registry.
21st Century Cures Act: Impact on Health Reimbursement Arrangements for Small Employers
President Obama recently signed the 21st Century Cures Act into law. The new law allows qualified small employers to offer health reimbursement arrangements (HRAs) without facing penalties for non-compliance with the Affordable Care Act. Prior to the enactment of this law, an employer could only offer an HRA if they also offered coverage under a group health plan and met requirements of the Affordable Care Act.
In an HRA, an employer is able to reimburse health insurance premiums and certain other qualified medical expenses on a pre-tax basis for eligible employees. In circumstances where an employee is not covered under minimum essential health coverage, their reimbursements are considered taxable and included in gross income. Continue reading “21st Century Cures Act: Impact on Health Reimbursement Arrangements for Small Employers”
Important Filing Deadline Changes
Important changes have been made to deadlines for federal corporate tax returns for the 2017 filing season. On July 31, 2015 President Obama signed into law legislation making the new tax return due dates effective for tax years beginning after December 31, 2015. This will include any short year returns beginning in 2016. Continue reading “Important Filing Deadline Changes”
Winning Strategies in the War for Talent
(Published in Construction Executive, June 2016 issue)
A top concern for most construction companies is the future of the workforce, including both field and office personnel. During the last several months, contractors have seen an increase in bidding opportunities with less competition, along with increased gross margin, which indicates a growing need for personnel. When the economy was in a downward spiral, many construction workers left the industry and haven’t returned. Plus, overwhelming numbers of workers are retiring and fewer people are joining the industry. All of these factors have combined to create a war for talent.
Companies can use several strategies to help retain current employees and attract new ones. Continue reading “Winning Strategies in the War for Talent”
Judge blocks Overtime Final Rule
On November 22, 2016, U.S. District Court Judge Amos Mazzant granted an Emergency Motion for Preliminary Injunction and thereby enjoined the Department of Labor from implementing and enforcing the Overtime Final Rule on December 1, 2016. The case was heard in the United States District Court, Eastern District of Texas, Sherman Division (State of Nevada ET AL v. United States Department of Labor ET AL No: 4:16-CV-00731). The rule updated the standard salary level and provided a method to keep the salary level current to better effectuate Congress’s intent to exempt bona fide white collar workers from overtime protections.
To learn more about this change click the link to an article posted on the Department of Labor’s website https://www.dol.gov/featured/overtime.
Wininger Named to NACVA and CTI 40 Under Forty
Kyle Wininger, CPA, CICA, CVA, CFE was named by the National Association of Certified Valuators and Analysts (NACVA) and the Consultants’ Training Institute as a 2016 40 under Forty award recipient. Wininger is a Vice President for Harding, Shymanski & Company, P.S.C. and leads the firm’s Advisory Services Department. The award recognizes the accomplishments and contributions of individuals to the business valuation and forensic accounting profession, as well as their local communities. Continue reading “Wininger Named to NACVA and CTI 40 Under Forty”
Raising Your Interest in Working Capital Management
Lower interest rates in recent years have dimmed the spotlight on the essential business function of working capital management. Many companies have chosen to take advantage of lower interest rates by borrowing against their lines of credit instead of continually improving their working capital processes and collection practices. This strategy may be workable now, but what happens when interest rates begin to rise? Continue reading “Raising Your Interest in Working Capital Management”