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Saved Articles

  • Home Office Tech Tips

    Office-friendly tools for your workspace can help you enhance efficiency and decrease stress. Click through to learn what remote workers look for among new gear and apps.

    Saved on 01-14-2022 - Remove
  • Tax Deductions and Construction: What Can Be Written Off?

    Construction companies can catch a break from the IRS. Click through to see what kinds of deductions they’re eligible for.

    Saved on 04-16-2022 - Remove
  • Maintaining Internal Controls

    Are you familiar with internal controls? Do you understand whether they apply to your company? Click through for an introduction to internal controls and a discussion of why every company needs them.

    Saved on 01-14-2022 - Remove
  • The Sharing Economy: Tax and More

    The sharing economy is based on peer-to-peer activity — acquiring, providing or sharing access to goods and services. Click through to see how it's facilitated by community-based online platforms.

    Saved on 08-11-2022 - Remove
  • Balance Sheets and Property Profitability

    Well-formatted balance sheets can let property owners know early on whether their property is more or less profitable than they anticipated. The key is knowing how all the parts fit together. Click through to learn how to get a handle on your finances.

    Saved on 04-16-2022 - Remove
  • How to Address Fraud in Your Business

    Sadly, there aren't many aspects of life, including a small business, where we don't have to worry about fraud at all. Click through to learn some ways you can prevent fraud in your company.

    Saved on 10-05-2021 - Remove
  • Construction: Managing Cost Segregation

    Cost segregation can help boost cash flow and decrease tax liability, but the rules and processes are complex. However, the effort may be worth it. Click through to see how this can benefit large-scale property developers.

    Saved on 04-17-2022 - Remove
  • Construction Companies: Recognizing Revenue Under ASC 606

    Before ASC 606 was adopted, there was no formal standard for the recognition of revenue across industries. Click through to learn how this important standard has affected the construction industry.

    Saved on 06-07-2022 - Remove
  • Is This Your Situation: Facing Your Concerns About Revenue Management in Construction

    Managing revenue can be a complicated process and presents a major challenge for construction companies, especially in a modern economy. Click through for insights into this important aspect of construction management.

    Saved on 06-07-2022 - Remove
  • What Is the Innocent Spouse Rule?

    Want to seek relief from penalties that resulted from your spouse's underpayment of tax? Click through to learn how you can protect yourself.

    Saved on 08-11-2022 - Remove
  • Should You Pay an Employee Who Resigns With Two Weeks' Notice?

    When an employee hands in their two-week notice of resignation, it triggers payroll questions, including whether the employee should be paid at all. What are the rules and best practices for this situation? Click through for information to help you create a policy.

    Saved on 08-11-2022 - Remove
  • What Taxes Do Businesses Have To Pay?

    If you're running a business, you don't only have to worry about your own personal taxes. You have to concern yourself with your company's taxes as well. Click through for an introduction to business taxes.

    Saved on 08-11-2022 - Remove
  • Carried Interests Undergo Significant Tax Treatments

    Beginning in November 2021, the IRS issued frequently asked questions to clarify compliance questions. According to the IRS, owner taxpayers (partnership investors) and passthrough entities need to comply with these final regulations when addressing their 2021 tax compliance reporting. The following are highlights of those compliance requirements.

    Saved on 08-11-2022 - Remove
  • Managing Tax Rules for Part-Time or Seasonal Help

    Do you have questions about the tax treatment of payments for part-time and seasonal help? These employees are subject to the same rules that apply to all employees – with some twists. Click through for some help on tax rules regarding part-time and seasonal help.

    Saved on 08-11-2022 - Remove
  • Figuring Out Contractor Tax Breaks

    Did you know that if you’re a contractor, you may have some tax breaks coming your way? But you have to know what they are! Click through to learn how you can work with us to get what’s coming to you.

    Saved on 08-11-2022 - Remove
  • Deciding Whether Contractors Can Claim R&D Benefits

    Many incorrectly think that the R&D tax credit applies only to companies that actually employ scientists. If, however, you employ a range of machinists and engineers, for example, who are developing new systems and designs, then you may be entitled to this lucrative tax break. Learn more about this tax credit. 

    Saved on 08-11-2022 - Remove
  • How To Ensure Your Company's Financial Statement Assertions Are Accurate

    Taking the step of preemptively examining internal controls before closing financial statements gives company chief financial officers the assurance that their assertions are accurate and complete. Click through for key reporting advice.

    Saved on 04-18-2022 - Remove
  • Applying ASC 606 in Construction

    The Financial Accounting Standard Board's ASC 606 addresses a range of issues related to revenue recognition, and it has particular relevance to the construction industry. Click through for a brief introduction to help you understand how ASC 606 may affect your company.

    Saved on 04-18-2022 - Remove
  • Do You Have Operational Efficiency?

    When operational efficiency is healthy, your business can cut down on unnecessary costs while increasing revenue. Click through for some thoughts on how you can make your business more efficient.

    Saved on 04-18-2022 - Remove
  • Figuring Out How 1031 Exchanges Work

    Section 1031 is one of the most useful provisions of the tax code, but it's also one of the most misunderstood. Click through for an introduction to how 1031 exchanges work, and how they can help you.

    Saved on 04-18-2022 - Remove
  • January Tax Due Date Is Approaching

    Businesses have to adhere to a strict tax schedule, and January 31 is a red-letter date. A variety of filings are due. Click through for an overview of your business tax responsibilities as the year draws to a close.

    Saved on 04-18-2022 - Remove
  • What To Know About the New Lease Accounting Standard

    The effective date for private companies to comply with Accounting Standards Codification 842 is on the horizon. The new standard clarifies definitions and businesses will need to make sure they're familiar with the terms. Click through to make sure you're familiar with the basics.

    Saved on 04-18-2022 - Remove
  • Four Technologies That Are Changing How Brokerages Are Run

    Change is no longer an option for brokerages operating in the 21st century. Technology not only is changing the way brokers and agents interact with their clients, but also is changing how brokerages are run in general. Click through to learn about four technologies that are driving the commercial real estate game.

    Saved on 04-18-2022 - Remove
  • Lease Terms and Tenant Defaults or Bankruptcy

    What options do landlords have if tenants default on their leases, want to renegotiate details or declare bankruptcy? The answer depends on the terms of the lease. Click through to learn why it pays to read the fine print.

    Saved on 04-18-2022 - Remove
  • Should You Lease or Buy: Making the Best Choice

    When your business needs new equipment, you have to decide whether you should lease or buy what you need. Is an operating lease the right move for your company? Or would a capital lease be better? Click through for an introduction to complex leasing rules.

    Saved on 04-18-2022 - Remove
  • The Future of Technology in Construction

    The Covid-19 pandemic may have given construction companies an impetus to enhance productivity and worker safety. Click here to read about three technologies that construction companies should consider.

    Saved on 04-18-2022 - Remove
  • Construction Companies Go Green

      It pays to be environmentally sound. Click through to read how the construction industry is greening its energy sources and improving its bottom line.

    Saved on 04-18-2022 - Remove
  • What Does Depreciation Mean to Your Construction Business?

    Depreciation is the term used to describe the comparison between the cost of an asset and the income it could help your construction company earn.  Click through to learn how depreciation affects the way you run your construction business.

    Saved on 04-18-2022 - Remove
  • 9 Steps to Develop a Business Succession Plan

    A business succession plan is a road map for the company's future. Developing this plan can be a complex process, but it doesn't have to be overwhelming. Click through for 9 steps that can help you determine your company's future.

    Saved on 04-18-2022 - Remove
  • Is Real Estate a Good Investment?

    Investing in real estate can be risky or even foolish if you hold on to property that's losing money because you think it will appreciate. Click through to discover why investing now might be the smart choice.

    Saved on 08-11-2022 - Remove
  • Get to Know How Section 179 Works for Real Estate

    On the lookout for tax breaks that will save you money on your commercial real estate? Don't miss out on Section 179 deductions. Click through to learn the ways in which this tax break can save you money this year on your commercial real estate investments.

    Saved on 08-11-2022 - Remove
  • How to Realize Tax Benefits with Cost Segregation

    How much do you understand about the tax benefits of a cost segregation study? Owners of commercial real estate should pay close attention to this beneficial tax planning law. Click through to learn the ins and outs of cost segregation.

    Saved on 08-11-2022 - Remove
  • Is This Your Situation: Are You Planning Your Commercial Real Estate Taxes?

    Taxes are not something you should think about only as the due date approaches. Managing taxes is a year-round task. Click through for some insights into commercial real estate taxation and how you may be able to lower your tax bill.

    Saved on 08-11-2022 - Remove
  • Know the Basics of Business Valuations

    There are many compelling reasons for having a business valuation, whether it is a potential merger or acquisition, a buy/sell agreement, or estate and gift tax planning. But how do you perform these valuations? Click through for some valuation tips.

    Saved on 07-15-2022 - Remove
  • Exempt vs. Nonexempt: Where the Dividing Line Is

    There's a good chance that your organization employs both exempt and nonexempt employees. The line dividing them may be thin, but it's critical you keep the distinction clear. Click through to ensure that duties and compensation are assigned based on exemption status.

    Saved on 07-15-2022 - Remove
  • Is This Your Situation: Trying to Manage Seasonal Construction Budgets

    When the sun is shining and the temperatures are warm, it can be hard to remember that construction is largely a seasonal business. Click through to find out what happens in the dead of winter when you don't have work for your seasonal employees.

    Saved on 07-15-2022 - Remove
  • How Do S Corporations Work?

    Particularly for certain smaller businesses, the S corporation can be a much more beneficial entity than the traditional C corporations, but there are strict rules. Click through for an introduction to the advantages and drawbacks.

    Saved on 07-15-2022 - Remove
  • Recordkeeping Rules for Construction Companies

    No job is over until the paperwork is done. Click through to learn how to make recordkeeping as painless as possible.

    Saved on 07-21-2022 - Remove
  • Is This Your Situation: Your Internal Controls Are Weak

    Internal controls are essential to a properly run construction company, and it doesn't matter what size business you have. Click through for an introduction to internal controls and a discussion of why every company needs them.

    Saved on 07-23-2022 - Remove
  • Using LLCs in Real Estate

    Is a limited liability company a good choice to protect real estate investments? Yes, but you need to know the details. Click through to better understand how an LLC works in relation to real estate investments.

    Saved on 07-23-2022 - Remove
  • 12 Things to Do If You Suspect Internal Fraud

    The suspicion that someone you may have trusted for years is stealing from your company can hit you hard emotionally, but you still have to react rationally. Click through for tips on handling a possible case of internal fraud.

    Saved on 07-23-2022 - Remove
MHCS Construction/Real Estate
MHCS
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West Des Moines, IA 50266
Phone: 515-288-3279
Fax: 515-280-1490
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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