Winter 2024

Here’s a brief glance at what you’ll find in the Winter issue…

Group Captive Insurance May Suit Construction Companies

Every business needs various types of insurance to manage risk. For construction companies, however, it’s particularly important. Of course, sufficient insurance comes with considerable costs. One way some construction businesses may be able to manage these costs is to join a group captive insurance arrangement. This article explains how these arrangements work, including the tax impact, benefits, and risks. A sidebar notes that the IRS is increasingly scrutinizing and challenging “microcaptives.”

Read Up on DBA Rules Before Bidding on Public Jobs

Construction companies that perform on federally funded projects must grapple with the Davis-Bacon Act (DBA), which sets worker compensation based on the prevailing wage rates in the area. Most states have similar rules. It’s critical for contractors to know all applicable rules so they can prepare accurate bids and manage labor costs. This article discusses the latest DBA rules, which apply to contracts entered into after October 23, 2023.

Launching a Venture as a Limited Partnership

When starting up a new business, contractors have a multitude of choices regarding how to legally structure the company. They also need to think about how they’re going to raise capital for the fledgling construction business while managing tax liability and risk. This article focuses on one entity choice that’s particularly well-suited for new ventures: limited partnerships.

Is Now the Time to Invest in Electric Vehicles?

Most companies today are undertaking serious efforts to reduce their carbon footprints and combat climate change. This is certainly a major imperative and challenge for construction businesses. One major step to consider is replacing gas-powered vehicles with electric vehicles. This article explores viable reasons to do so, including some valuable tax incentives currently available.