Bob Teska, CPA, CCIFP, Partner-in-Charge: Construction Services recently joined three colleagues from Reagan Companies for the third installment of their round table discussions regarding current construction industry updates. Reagan Companies was represented by Fran Lowther (Bond Manager), Jim McElhannon (Commercial Risk Manager) and Kevin Moteyunas (Commercial Risk Manager). Together, the group covered a wide range of tips and ideas to help you improve your business as we transition into 2021, including:
1) A (Quick) PPP Loan Update
3) Year End Planning Meetings
- Include all key stakeholders
- 2020 results (successes, failures, lessons learned)
- Tax planning (profit retention, distributions, bonuses)
- Operational objectives for 2021 (backlog, goals, changes)
- Review composition of balance sheet (net worth, working capital)
- Corporate policies and procedures
- Required training for 2021
- OSHA filings
Bob Teska, CPA, CCIFP, is a Partner-in-Charge of Construction Services at Bowers & Company CPAs. Reach him at 315-234-8157 or firstname.lastname@example.org.
Jim McElhannon, Commercial Risk Manager – reach him at (315) 673-5333 or email@example.com.
Fran Lowther, Bond Manager – reach him at (315) 673-5381 or firstname.lastname@example.org.
Kevin Moteyunas, Commercial Risk Manager – reach him at (315) 673-5307 or email@example.com.
Bowers & Company CPAs aims to offer helpful information to our clients and friends. Learn more about how we can help should your construction company need accounting and financial services.
Disclaimer: To ensure compliance with requirements imposed by the Department of Treasury, we inform you any U.S. federal tax advice contained in this document or video is not intended for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party any transaction or matter that is contained in this document.