July/August 2014
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Care to take a drive down M&A Avenue? — 4 ways to avoid trouble |
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Mergers and acquisitions (M&As) are an ambitious way to gain traction in today’s competitive construction marketplace. With so many baby boomers approaching retirement age, market analysts expect that there will be plenty of bargains for small to midsize businesses in the coming years. But M&As can be fraught with peril. Deals go bad, new co-workers don’t get along, goodwill evaporates and profits suffer. This article offers four ways to steer clear of trouble, while a sidebar describes a variety of resources to consult when considering an M&A.
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| Small tools, big deal: Accountable reimbursement plans | |
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Contractors typically consider creating an “accountable” plan for reimbursing employees for their small tools purchases. Although the dollar amounts of these items may be relatively miniscule, getting an accountable plan right is a big deal come tax time. This article discusses the criteria for establishing an accountable plan, along with recent IRS guidance. |
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New government programs promote veteran hiring |
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The U.S. Bureau of Labor Statistics estimates that the construction industry will add more than 1.6 million jobs in the decade leading up to 2022. This article looks at the U.S. Department of Labor’s centralized online resource specifically designed for business owners, including contractors, looking to hire veterans. It not only allows companies to post job openings, but also provides human resources managers with tools designed for veteran recruitment. The article also discusses tax credits for companies that hire veterans.
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| Construction Success Story — Applying the latest technology to mobile project management | |
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In this issue’s “Construction Success Story,” a midsize telecommunications contractor has learned that the right mobile project management tools mean a lot more than increased convenience. The construction business bought tablets that used apps to replace multiple pieces of equipment such as laptops, clipboards and training manuals. It then used a connectivity app to install project management software companywide. These initiatives dramatically increased morale, along with growth. And, by working with its financial advisor to execute a careful purchase process, the company was able to preserve its cash flow and claim valuable tax breaks for the tablets.
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