Navigating medical marijuana in the workplace can be complex, but we have the expertise to ease your concerns, provide practical guidance and help you feel more prepared. Interested in learning more? View our recent webinar below and key takeaways to ensure you’re equipped to maintain a safe and compliant workplace.
Engineering News-Record has ranked HORNE among the Top 50 professional services firms in two areas of program management for 2024.
Step into the world of effective crisis communication tailored specifically for the construction sector. Whether you’re managing large-scale developments or overseeing on-site operations, we have practical insights in the webinar below to help you navigate uncertainties with confidence.
Are you confident that your team is prepared for an OSHA site visit? If the answer is no, or if you want to be more prepared, then join us as we explore the essentials of OSHA compliance and navigate the process of handling inspections and injury reporting.
We have been hearing about a “bid-ask spread” issue in the lower middle market healthcare space for a significant time, and I wanted to discuss this and also mention another pocket of dislocation that I see.
HORNE’s Board of Directors recently appointed Kennon Breaux as the firm’s chief financial officer.
HORNE’s Board of Directors recently appointed Naveen Khan as the director of AI and Innovation for HORNE’s Intelligence and Automation team.
If you represent a HUD organization that regularly receives Federal funds, you are probably familiar with requirements relating to Federal Labor standards. Section 3 requirements—often discussed in the same context as Labor—you may be less familiar with, however.
Did you know that every Federally-funded project must undergo an environmental review before any funds can be spent, or even committed to a project? This includes projects that do not directly impact the environment.
Tennessee Governor, Bill Lee, recently announced a change to the Tennessee Franchise tax.
Addressing performance issues within your team can be difficult.
Does your business currently have a new employee evaluation process? Navigating the intricacies of new hire evaluations can be daunting, especially in the construction industry.
HORNE has been named one of the top 30 accounting firms in the U.S. by industry publication Accounting Today.
Are you prepared for an unemployment hearing? Navigating the intricacies of unemployment hearings can be daunting, especially in the construction industry.
In the ever-evolving world of construction, a meticulously crafted handbook is your North Star, providing essential guidance for both employers and construction crews amidst the intricacies of company policies, expectations, and values.
New SEC rules create substantial 2025 reporting hurdles for registered private fund advisors. On August 23, 2023, the SEC enacted a sweeping new set of rules applicable to private fund advisers designed to provide greater transparency and oversight.
There are many factors to consider before choosing an auditor; these 6 should be at the top of your list. The selection of a third-party auditor for your private equity, hedge or venture capital fund is a crucial step in ensuring compliance and transparency.
For any private fund manager, there are certain milestones — among them, crossing the 9-figure mark as their assets grow to over $100 million. But, with this growth comes a new level of SEC regulation and oversight that they must adopt.
Hospitals across the country are facing increasing labor costs, with physician compensation being a major contributor to the upward trend. According to the KaufmanHall Physician Flash Report, labor expense continued to outpace the increase in revenue for services provided in 2023.
As states have returned to normal Medicaid enrollment procedures in the past few months, imagine two headlines: “Medicaid Plummets!” “Marketplace Soars!” Which one is the most accurate summary? Both are, which underscores the importance of reading them together.
When it comes to expertise, sometimes it’s best not to build it yourself. As construction firms grow, their back office and C-suite needs evolve.
Like all things in the construction business, choosing the right advisor begins with a plan. Whether your construction firm is trying to grow to the next level or simply seeking ways to boost performance, having an advisory firm in your corner can make a tremendous difference — provided you’ve chosen the right one.
HORNE’s Board of Directors announced Clay Kittrell as HORNE’s new Director of People, effective February 1, 2024.
On January 31, the House overwhelmingly passed H.R 7024, known as the Tax Relief for American Families and Workers Act of 2024.
Joe Beall joined HORNE’s Construction team as a human resources consultant, effective January 1, 2024.
Planning for a successful future can seem overwhelming. Where do you start? How do you make time? Which questions should you ask? Today, we’ll present a process that can help you organize your thoughts and put you on a path toward a successful planning process.
As a business owner, is it a good idea to hire a “professional president” to keep various managers focused? Today, we’ll present some potential benefits of a professional company president.
“How hard can planning my exit really be? I already made it valuable, so all I need to do is find someone to buy it for what I want, right?” If you’ve ever watched a professional football game, you might be familiar with the armchair quarterback—someone who says, “How did he miss that throw? I could do that!”
Many business owners eventually reach a crossroads where their families want them to slow down and take it easy, even if they aren’t ready to. This can be even more challenging if, as one business owner put it, you “feel more appreciated at the office than at the dinner table.”
For many business owners, the business is more than a means to make money—it’s a part of their identity and a link to the past. This can make the idea of leaving it, and committing to the planning required to leave it successfully, very challenging.
Selling your business comes with major tax implications. You likely don’t want to pay any more than the minimum in taxes when you sell. With planning, it’s possible to reduce your tax burden and reap the most out of a business sale.
Business owners are used to having control. But some things are uncontrollable, and without a plan, those uncontrollable things can create negative consequences that reverberate.
Keeping the business in the family or among trusted employees is a point of pride for many business owners. And some heirs apparent truly can’t wait to run the business. Today, we’ll raise some important considerations if you intend to keep the business in the hands of insiders.
Many business owners choose to sell their businesses to third parties for several reasons. If you’re thinking about pursuing a third-party sale as your business exit strategy, consider these four steps to prepare yourself for a successful third-party sale.
Business owners deserve to get full value for their businesses when they decide to retire. But who determines what “full value” is, and how do you create it? Let’s look at three strategies you can implement to pursue and build your business’ value.
Running a successful business that generates wealth is incredibly satisfying. If there’s a downside to it, it’s that much of that wealth is generally illiquid, unless you sell the business or invest outside of your business.
A big part of being a successful business owner is your ability to ask questions. This innate curiosity allows your business to thrive, adjust, and evolve. It’s also a good way to begin planning for a successful future outside the business.
When you co-own a business, you likely don’t go into it thinking, “One day, we may loathe each other.” But over time, goals, ambitions, and the economy itself can change, creating strife among co-owners.
Planning for a successful future can seem like an event—a thing you do in the course of business. However, in many cases, this planning is much more like a relationship: with your loved ones who rely on you, with your employees, and with your advisors.
A common tragedy for business owners is facing a life-changing event, such as a sudden death or illness that devastates the business, without a plan. While these events may seem uncontrollable in the moment, the good news is that with foresight and planning, you can regain control over what seems uncontrollable.
One of the biggest changes your business will inevitably experience is a transfer of responsibilities. Transferring important responsibilities to someone else can be exciting and nerve-wracking.
As a successful business owner, the people closest to you likely rely heavily on you. They may also have expectations regarding your wealth. Your plans for how you’ll disperse your wealth, and the expectations others may have, can have major effects on your future.
Many successful business owners are successful because they think about things differently than most people. Others may recognize your personal brilliance and say to themselves, “I wish I could understand how she does it.”
We enter 2024 in volatile times, with economic conditions defying many recession predictions (largely driven by end-of-year consumer spending), global conflicts, and a looming presidential election.
We work with enough leaders like you to know that hard conversations are scary in their own way. You probably wouldn’t use the word “scary,” but there are real fears that get in the way.
How do you feel when you know you’ve got to have a hard conversation with someone?
Have you ever felt unappreciated? What was the situation? How did that impact you? Whether you’re aware of it or not, appreciation is a deep human need.
We hear it all the time: it’s hard to hire and keep people. There is obviously truth to this.
If you have any trouble finding, hiring, developing or keeping people—you should care about the Employee Lifecycle.
What does it mean, practically, to “get people on board” with change? It often boils down to communication. Specifically, effective change communication is: early and often, clear and compelling and other-centered.
Getting skeptics on board with change is very, very hard. Not impossible, but hard. If someone’s skeptical, it’s probably for one of two reasons.
Change is easier when people are actually excited about it. So, to change well, find out what people actually want—what would make them most excited if they saw it—and then incorporate as much of that as you can.
Change is everywhere. It can hurt us or make us stronger. It can divide us or bring us together. We believe one key thing can make the difference: how leaders prepare for, communicate during, and persist through change.
Three non-profits across the states of Texas, Alabama and Mississippi will receive a total of $100,000 to support their community efforts thanks to HORNE’s Seasons of Giving initiative, powered by the HORNE Community Foundation.
HORNE, a professional services firm, has opened two new offices in Tallahassee and Miramar Beach, Florida.
Chris Sarandos has been named HORNE’s Chief Information Officer. With nearly 45 years in the technology industry, he defines and implements the firm’s IT strategies and capabilities with a key focus on digital innovation to support the rapid growth of business.
Mary Clay Morgan has been named as HORNE’s Chief Operating Officer. As she takes on this new role, she will continue serving as the Firm’s General Counsel.
Preparing for a SOC 2 (System and Organization Controls 2) audit is essential to demonstrate your organization’s commitment to information security, privacy and compliance with industry standards.
HORNE’s Client Advisory Services team recently hosted their Wrapping Up the Year Workshop, a specialized session tailored for bookkeepers and controllers. This workshop served as a comprehensive guide to year-end best practices in bookkeeping and payroll along with other key construction tax updates.
Five non-profits across the states of Mississippi, Hawaii, Louisiana and Florida will receive support for their community efforts thanks to HORNE’s Seasons of Giving initiative, powered by the HORNE Community Foundation.
HORNE’s Board of Directors recently appointed Public and Middle Market Partner, Joe Green, to serve as the next firmwide director of assurance. As he takes on this new role, he will also continue serving as the firm’s SEC director.
When it comes to providing oversight of managed care expenditures and performance at the state level, your choice of an outside auditing firm is crucial. With numerous options available, identifying the right finalists can be a bit overwhelming. While firms may vary in size, capabilities and specific strengths, there are six key criteria you should consider when selecting a provider.
Many leaders approach hard conversations the wrong way. The two most common mistakes we see are (1) allowing your emotions to set the tone and (2) making judgments about a person.
Recently we helped a family-owned general contractor re-engage two key employees. One was a supervisor whose future was in question as a large job was winding down. The other was a back office team member who’d become demotivated. Both were valuable to the business. The owners wanted to know: How can we help them stay?
If you’re looking to file an Employee Retention Credit claim with the IRS, please note that there is a hold on processing of all new ERC filings until at least January 1, 2024 – according to the IRS.
Passed in 1931, the Davis–Bacon Act established requirements for paying local prevailing wages on public works projects for laborers and mechanics. The goal was to keep wages for public works projects in line with private sector projects, and it impacts contractors and firms engaged in building, altering or repairing public buildings or public works.
Monique Mahan was admitted as a tax director, joining HORNE’s Public and Middle Market group, effective August 31.
Lori Crocker, who serves in HORNE’s Healthcare group, was recently promoted to director, effective September 1.
INSIDE Public Accounting has ranked HORNE number 25 on the Top 500 Firms list for 2023.
One of the simplest and most cost-effective ways to improve hiring is to ask better interview questions. But what is a “better” or “worse” question? Today we’ll explain the anatomy of a better interview question and give one example that applies to any position.
Let’s focus on goal setting. Take a moment to think about your goals. How confident are you that you can achieve them? How clear are they?
Engineering News-Record has ranked HORNE as one of the Top 50 professional services firms in two areas of program management for 2023.
Construction Executive has ranked HORNE in the Top 50 Construction Accounting Firms™. The industry publication ranked HORNE number 26 for the second year in a row on its annual list of the Top 50 Construction Accounting Firms for 2023.
As we enter the heart of hurricane season, it is critical that states that experience the impact of hurricanes prepare not only for response in the immediate aftermath of a disaster, but for long-term recovery as well.
In this article, we’re focused on hiring. Almost all of our clients tell us it’s hard. Whether it’s unskilled labor, project managers, estimators, supervisors or executives—they’re all hard to find, and increasingly hard to keep.
Wes Winborne, who serves as managing partner in HORNE’s Construction group, has been elected Chair of the advisory committee in the Construction Industry CPAs and Consultants (CICPAC) group for the 2023-2024 year.
On June 6, 2023, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Board of Governors of the Federal Reserve System (FRB) issued long-awaited Interagency Guidance on Third-Party Relationships Risk Management (Guidance)
Timothy Smith, who works in HORNE’s Public and Middle Market group, was admitted as a partner, effective July 1. Timothy specializes in serving state and local governments and shepherding them through grant implementation, management and compliance.
As a partner, Wes Winborne provides assurance services to the construction industry, but his areas of enthusiasm aren’t limited simply to business consultation.
The construction industry has faced its fair share of challenges in recent years. But now, with continued federal funding, the industry is expected to experience growth. This funding will give opportunities for contractors to bid on various projects and secure new business.
HORNE’s cyber team recently earned The Cyber AB Certified Third-Party Assessor Organization (C3PAO) designation which allows HORNE to perform specific cyber security assessments for Organizations Seeking Compliance (OSC) through contractual agreements.
With more than 1400 volunteer hours served in Mississippi, HORNE was awarded the “Corporate Volunteering Champion” GiveAward from Volunteer Mississippi which is a non-profit organization that works to engage and support all Mississippians in service to their communities.
HORNE, a professional services firm, has opened an office in Metairie, Louisiana, to better serve clients in the area.
In the course of an acquisition, “due diligence” is often regarded as a built-in part of the process – a formality to be checked off once it’s completed. However, acquisitions that conduct thorough and competent due diligence have a greater chance of success because decision-makers have the quality of information they need to make a decision.
Chandler Croom, who works in HORNE’s Franchise services group, was admitted as a partner, effective January 1.
Wes T. Winborne has assumed the role of managing partner for HORNE Construction, effective January 1, 2023.
Jonathan Krebs was a college student at the University of Southern Mississippi when Hurricane Katrina slammed into the Mississippi Gulf Coast on Aug. 29, 2005. He remembers well the effects the storm had on the school, its students and faculty. Now he serves as the managing partner for the Government Services division of HORNE and oversees multiple disaster projects that have helped people and communities recover.
For many owners of independent construction firms, selling their business is more than an exit strategy; it is the cornerstone of their retirement plan.
What are the biggest challenges to growing your business? Is it talent attraction and retention, rapidly changing technology or delivering unique and meaningful customer experiences?
Google Analytics 4 is the next generation of Google Analytics. This is not simply a new version; it’s a new way to track and present data. Google’s goal is to provide more predictive analytics and display those through better data visualization.
Change is coming faster than ever. Every week, I search for the meaning of some new acronym that impacts our business processes. As someone who oversees not only HORNE’s web properties, but also those of clients, I had to research these changes Google has made. Here are my key takeaways.
By 2030, all baby boomers will be 65 or older. Not to mention that many Gen Xers — or those born between 1965 and 1980 — are now in their 50s. Combined with workforce changes brought about by the COVID-19 pandemic and the ongoing “Great Resignation,” the potential for knowledge loss is growing across all industries.
The healthcare industry is in a state of emergency today. In an industry where change notoriously happens gradually at best, leaders should change to a posture of aggressive urgency if they want their facilities to survive. The negative after-effects of the COVID pandemic are felt by no industry greater than healthcare. The virus has left in its wake a system that is not only tired but wounded – physically and fiscally.
In most companies, developers are focused on meeting project deadlines, and that often leads to applications that are insecurely coded. Custom development can multiply vulnerabilities. Some 48 percent of developers think they leave vulnerabilities in their code, according to the State of Developer-Driven Security Survey 2022 from Secure Code Warrior.
One of the biggest threats facing organizations related to cybersecurity involves web application security. Organizations continue to use custom-developed and off-the-shelf web applications, and they present significant cyber risk because of the vulnerabilities that are typically in them.
Events during the past few years have changed merger and acquisition deal volumes, a trend we expect to continue, including large numbers of transactions driven by the amount of debt and equity capital available. We see this in all deal sizes and across all industries.
In the past few years, many of HORNE’s clients saw tremendous growth, while others struggled to stay afloat. The good news is that both have opportunities for success now and in the future.
There are many opportunities for the franchise industry right now to win the sales game with the right strategies, service levels and quality control.
Digital transformation is a critical area of focus for financial institutions seeking to stay competitive by enhancing the customer experience and optimizing efficiencies in the back office.
Digital transformation is imperative for financial services organizations, not just because it’s the only clear route to addressing changing consumer expectations. It’s also because of the ability to create efficiencies in back-office operations that will enable a more agile, cost-effective and competitive enterprise.
If you don’t know your organization’s strategy, there’s a good chance company progress can be derailed. Change that equation with a dynamic and effective strategic plan.
Good preparation is crucial to good strategic planning – but you can’t finish without a robust strategic implementation program
Two non-profits in Mississippi soon will receive support for their community efforts thanks to HORNE and the HORNE Community Foundation. HORNE team members voted for Friends of Children’s Hospital as the winner of $50,000, with Make-A-Wish® Mississippi coming in second with an award of $10,000.
The pandemic has played a big part in supercharging the digital transformation trend in financial services. In 2020, online banking usage increased by 23% and mobile banking use was up 30% over the previous year. This represents an acceleration of a long-term shift toward digital banking. According to a 2022 survey from Ipsos and Forbes, 78% of consumers prefer to bank digitally.
Automobile dealers don’t just sell vehicles, they do credit checks and issue loans as well. Because of this, dealers store important customer data, such as addresses, social security numbers and other personal identifiable information.
Two non-profits in New Orleans and Little Rock, Arkansas, soon will receive support for their community efforts thanks to HORNE and the HORNE Community Foundation.
The Mississippi Department of Revenue communicated the following information regarding Employee Retention Credits to members of the Mississippi Society of CPAs:
Two non-profits soon will receive support for their community efforts thanks to HORNE and the HORNE Community Foundation. HORNE team members voted for Ronald McDonald House Charities in Columbia, South Carolina, as the winner of $50,000 with Children’s Home Society of North Carolina coming in second with an award of $10,000.
Two local non-profits soon will receive support for their community efforts thanks to HORNE and the HORNE Community Foundation. HORNE team members voted for The Hogar Albergue para Ninos Jesus de Nazaret, Inc. as the winner of $50,000, with The El Santuario de Animales San Francisco de Asís, Inc. coming in second with an award of $10,000.
When you look at your company’s website, what do you think its purpose is? What do you think it should be? Company websites serve many functions, such as providing information for current and potential clients. But one of its primary purposes also should be to recruit new talent.
Join us at HORNE Construction Forum 2022, on November 16th, beginning with breakfast at 8:30 a.m. This forum will offer networking opportunities, educational insights, post-election discussions and tips to help you embrace change and think differently about the future of business.
Two non-profits soon will receive support for their community efforts thanks to HORNE and the HORNE Community Foundation. HORNE team members recently voted for Youth Town in Pinson, Tennessee, as the winner of $50,000 with the Mobile SPCA in Mobile, Alabama, coming in second with an award of $10,000.
The U.S. House of Representatives and the U.S. Senate each have passed the Inflation Reduction Act, a $430 billion package that includes several changes to tax laws. President Biden signed the bill into law on August 16
Construction Executive has once again ranked HORNE as one of the top construction accounting firms in the country. The industry publication ranked HORNE number 26 on its annual list of the Top 50 Construction Accounting Firms for 2022. HORNE moved up two spots from 2021’s ranking of number 28.
RIDGELAND, Mississippi, July 19, 2022 – Engineering News-Record has ranked HORNE as one of the Top 50 professional services firms in two areas of program management for 2022. HORNE is ranked number 11 on the industry publication’s list of Top 50 Program Management Firms in the U.S. and number 18 in the Top 100 Construction Management-for-Fee Firms.
The term “employee compensation” is often limited to discussions on salary and possibly bonuses for tenure, performance or end-of-the-cash payouts. What is the best path forward for franchise owners and employee benefits?
In Mergers & Acquisitions (M&A), the landscape changes, sometimes rapidly. The reasons can be that the market is “hot” or “cold,” depending upon the level of interest, or valuation multiples demonstrated by buyers.
The COVID-19 pandemic and changing consumer demographics have accelerated the need for financial institutions to expand their digital and mobile services offerings.
Consumer protection is taking center stage in 2022, and financial institutions need to be prepared. The current mood in Washington is tipping toward a period of greater regulatory activism than seen in recent years, with the Biden administration, the Consumer Financial Protection Bureau (CFPB) and Congress all increasing their scrutiny of how banks and credit unions serve their customers.
The ongoing COVID-19 pandemic has changed many aspects of our lives during the past two years. While it has created a number of new challenges, it has been especially challenging for businesses looking to reopen and consistently maintain safe workplaces, as well as comply with varying guidelines.
Franchise owners looking to build a competitive wage structure can take a page from the Goldilocks fable, where the goal is to not pay too much or too little. The objective is to find balance and build a wage scale that’s “just right.”
COVID-19 is changing consumer habits. From retail to food service, many businesses are now offering delivery for the first time. While this can be great for business and a necessary means to survival, there are some critical components you need to consider before you begin.
Mississippi offers manufacturers many tax incentives that enable companies to prosper and grow. But are you taking advantage of all the opportunities you qualify for?
Christy Street, Horne, speaks to Anna Grizzle, Bass Berry & Sims, about structuring provider compensation models from a regulatory perspective. The podcast looks at compensation issues in light of the newly issued Stark Law final rules. Sponsored by Horne LLP.
One of the most intriguing and discussed elements of recent tax reform is the creation of Qualified Opportunity Zones, which are economically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatment. The tax benefits offered by investment in Qualified Opportunity Zones are meant to encourage economic development in these communities, which are officially designated at the state level.
Financial institutions play an important role in our nation’s COVID-19 response and recovery, but are facing some unique challenges as regulations continue to evolve. Our Financial Institutions team hosted a live town hall discussion where we shared the latest insights on:
The forgiveness calculation and required supporting documentation
SBA expectations for lenders
The potential for legislative changes
We hosted a live town hall discussion to help PPP loan recipients navigate the forgiveness application process, including:
The forgiveness application and timeline
The forgiveness calculation and required supporting documentation
The potential for legislative changes
Nexus is defined as a substantial connection to a state that allows the state to tax a taxpayer. Although this may seem pretty straightforward, things can get a little complicated for contractors working on out-of-state jobs. It’s important to determine if your construction company is responsible for state sales tax or income tax before bidding on an out-of-state job to ensure an accurate bottom line on the project and to also ensure compliance with state agencies.
Episode 1 of Decision Point: America’s long-term care community wants to keep stimulus payments to stay afloat yet facility owners find themselves searching for reimbursable ways to spend. With so many strings attached, learn how you can spend the money and maintain compliance with federal rules and regulations.
The acceptance of federal assistance comes with the responsibility to justify how you spend those funds. In this episode, HORNE’s Audit Manager Hayley Deer describes what you need to do to pass a single audit.
Chris Hannibal, Doctorate of Physical Therapy for Progressive Health, explains how a physical therapy program is a win-win for patients and LTC facility owners. Patients are recovering with no rebounds and facilities can reimburse expenses associated with the program. In this episode, you will learn about a program that has identified symptoms physical therapy directors should look for to establish recovery goals and patient therapy schedules and how to get reimbursed for those allotted therapies.
Increased use of telemedicine puts many long-term care facilities at risk, and cyber-criminals are already targeting healthcare organizations which can adversely impact health information technology, medical communications, and patient and resident safety. Ryan Wallace from HORNE Cyber joins us on this episode to share 5 best practices to help keep your network secure.
In this episode, Brad Pierce of HORNE Cyber talks about how the majority of business owners who have invested in their cybersecurity posture still have a false sense of security. Listen to learn about how you can best protect your organization.
Courtney Bishnoi, Vice President of Quality and Programs at the American Health Care Association and National Center of Assisted Living joins this episode to promote the adoption of safe and effective COVID-19 vaccines. AHCA/NCAL launched the #GetVaccinated campaign as a way to share strategies to improve staff vaccination rates, debunk myths, and share important facts about the vaccine. They have made available important resources you can access at getvaccinated.us.
Dental practice transitions rarely involve the selling dentist “turning over the keys and walking away” from operations. With this in mind, a
dental practice valuation includes the difficult tasks of projecting future operations and discounting those projections to a single and subjective present value.
On Friday, March 5, 2021, the Senate voted 50-49 in favor of an amended American Rescue Plan (President Biden’s $1.9 trillion tax and spending package). This bill was sent back to the House for their vote. Today, March 10, 2021, the House passed the American Rescue Plan and President Biden is expected to sign it into law.
“That won’t ever happen.” That is what I told my father-in-law, Ralph, every time he wanted to discuss what I should do if he were to pass away before his father did.
With the endless expansion of technological advancements in the past couple of decades, companies are now able to collect enormous volumes of data from all areas of business. Data analytics is the solution to transform all the data into information that can be used to improve your company’s bottom line. Identifying your company’s key performance indicators (KPIs) is the most important part of using data analytics to help achieve your business’s goals. KPIs can have a variety of origins ranging from measuring financial ratios to customer relationships.
Most construction business owners will spend a lifetime making sure their businesses succeed. After all of your hard work, do you really want to leave the fate of your business in someone else’s hands? As it is likely your largest asset, you’ll want to ensure your business is protected through a detailed estate plan. This plan should focus on minimizing estate and gift taxes as well as protecting your wealth for your family.
Statistics indicate baby boomers account for more than 50% of the construction industry. That means half of owners, along with their skills and knowledge, are headed towards retirement. Even more alarming is only half of those owners have a succession plan. If your company faces a disruption or change in ownership it reduces its chance of survival to only a small percentage. Even owners who don’t have an immediate retirement on the horizon need to have a plan.
You’ve done it. You’ve built a booming construction company and now you’re ready to relax. As a business owner, it’s important to plan your exit from the company years in advance to ensure you can depart with confidence. How will your exit impact you and your family?
Less than a year. That’s how long it took a successful construction company to permanently close after the owner unexpectedly passed away. Before his death, the company was thriving. But without a business continuity plan in place, the business didn’t survive a year.
HORNE was recently selected as one of the Top 50 Construction Accounting Firms in the nation by Construction Executive Magazine.
Just as many Paycheck Protection Program (PPP) lenders are beginning to accept forgiveness applications and submit them to the Small Business Administration (SBA) for consideration of partial or full forgiveness, the SBA has announced it will begin requiring a new Loan Necessity Questionnaire for large borrowers.
The COVID-19 pandemic has companies facing a new reality. From keeping your employees and public spaces safe to handling employees who may be sick or been exposed to the virus, there are many questions around how a business should manage these situations. In addition to employee and public safety, HR professionals are navigating the implications of the Families First Coronavirus Response Act as well as considering the impacts of reduced business hours or even a company shutdown.
