Building Construction

‘BIM’ enters construction vocabulary
Three letters – BIM – are increasingly becoming part of the ABCs of construction technology. What is BIM? BIM, which stands for building information modeling, refers to the creation and coordinated use of digital information about a building project, according to the Construction Management Association of America.

10 tax tips for real estate investors
These are tricky times for real estate investments. While many properties still have solid appreciation, the market continues to slide, and a turnaround is not expected anytime soon. As you ride out the slide, here are some strategies to help you minimize the sting of taxes.

What is the true value of a business valuation?
Although a business valuation is important for contractors considering an ownership transition or business sale, it serves many other purposes. A valuation should be considered when seeking loans, establishing an employee stock option plan, creating a buy-sell agreement, contemplating a merger or acquisition or engaging in estate planning or gift taxation.

Nonprofit Organizations

Six ways to deal with difficult employees
Dealing with difficult employees is one of the most stressful aspects of a manager’s job, if not the most stressful. Here are some strategies for coping with these employees and reducing your stress.

What’s in a minute? Keys to properly recording board actions
Some people might argue that the keeping of board minutes is the most important job on any board of directors. It’s a common axiom that if a discussion or action is not in the minutes, it didn’t happen. Although that may be extreme, any discussion or action that escapes inclusion in the minutes will probably not be treated seriously in the future, if treated at all. Accurate minutes are also important to the Internal Revenue Service. If you are audited, your organization may be asked to provide copies of the minutes for the period being audited.

The SOX effect: Nonprofits are looking more like for-profits
Hold a mirror up to a nonprofit these days and, many times, the reflection you’ll see is a more corporate image than in the past. And that’s a good thing. Because as fiscal pressure mounts, combined with donor demand for increased oversight and heightened enforcement from the IRS, nonprofits need the expertise and the survival instinct that corporate entities have developed in the marketplace.

Manufacturing

Compensation, incentive plans bolster employee morale
Outsourcing to a low-wage country sounds like a great way to save money. But, it won’t work in the distribution and logistics sector, where you need hands-on people. It’s important to keep your best workers by letting them know how much they really earn and developing incentive programs that offer opportunities to earn still more.

Five ratios help you manage from the balance sheet
Managing and measuring growth from the balance-sheet side of the company’s books can often generate stronger financial performance. By taking a look at both assets and liabilities, management can ensure that the company’s growth plans do not increase debt and cause cash flow or liquidity problems.

Cash flow forecast can help you weather rainy days
Most business owners learn very quickly that there is a big difference between profit and cash flow. This lesson is so important that a failure to grasp its business significance may lead to a failure of the business itself. First, it is important to be clear about what the term “cash” means.

Wealth Advice and Financial Planning

How to deal with gambling-related tax questions
With the expansion of casino gambling and the proliferation of state lotteries, it’s not surprising that many of us are occasionally tempted to lay down a little money and try our luck. Of course, most of the time, as luck would have it – we lose. When we get lucky, the tax man gets lucky, too. Gambling winnings are taxable, just like wages. The IRS even requires casinos and lottery agencies to withhold taxes from winnings in some situations. The fact that gambling winnings are taxable income doesn’t surprise most people. And most are aware that gambling losses are tax deductible – up to the amount of winnings for the year.

Should you choose gym membership or a home gym?
Looking for the best value when it comes to getting in shape depends not only on how deep your pockets are but also on what you’re looking for in a workout.

Facing reality may require some ‘pension pinching’
In recent years, soon-to-be-retirees from all walks of life have been forced to face the reality that their future income stream might not be nearly as bountiful as they once had imagined. Of the 77 million baby boomers now nearing retirement, many are in danger of running out of funds prematurely, according to experts. Surprisingly, even the wealthiest individuals are at risk, particularly as insurance premiums and other healthcare costs continue to escalate beyond past estimates.