Finish Strong: Avoiding Profit Fade in Construction Projects
Just like in many areas of life, both personal and professional, finishing strong is imperative to success. Construction projects are no different. In construction, a strong finish can ultimately determine whether a project is completed on time and within budget. When a project finishes strong and comes in under budget, it results in what’s known as a “profit gain.” Conversely, when a project gradually loses expected gross profit over time, it’s referred to as a “profit fade.”
Farm Income Averaging: A Valuable Tax Tool for Farmers
Due to the nature of farming, a farmer’s income can fluctuate significantly from year to year. Factors like commodity prices, input costs, weather conditions, and government support can all shift dramatically, resulting in large income swings. To help offset the tax...
Business Valuations Must Look to the Future, Not the Past
Historical financial performance is just one piece of the business valuation puzzle. While it provides a starting point, its relevance depends on whether the business is expected to achieve similar results in the future. High interest rates, restricted access to...
A Board Member’s Guide to Form 990 Review
Board members of nonprofit organizations are trusted individuals who are given the great task of fiduciary responsibility of an organization. This responsibility does not only cover financial statements and budgets but also tax forms such as Form 990. Since Form 990...
What Plan Sponsors Need to Know About the DOL’s Updates to the Voluntary Fiduciary Correction Program
Maintaining compliance with fiduciary responsibilities is a primary task for plan sponsors. Yet mistakes occur, especially given the complexity of the Employee Retirement Income Security Act (ERISA) of 1974. When certain fiduciary breaches or prohibited...
Cost Segregation Studies: The Key to Increasing Cash Flow
If you currently own, are constructing, or are repairing/renovating a commercial real estate or multi-family residential property, you likely know that the standard cost recovery lives for depreciation are 29 or 27.5 years, respectively. However, these long...
Hidden Opportunities: The Power of Business Valuations and Industry Benchmarking
A business valuation is more than just determining a company’s worth. It’s a process that provides a comprehensive look at financial health, operational efficiency, and market positioning.
Donor Acknowledgments: What Is Required of a Nonprofit Organization?
Sending a donor thank-you letter or acknowledgment makes your donors feel valued and builds a lasting relationship. Your donors believe in your organization’s mission, which is evident by their gift, so it is important to appropriately acknowledge their contribution.
Meet the Interns 2025
HBE’s intern program has been designed to provide college students considering a career in public accounting with real-world experiences in audit, tax, and business advisory-related services. Unlike traditional intern programs, our intent at HBE is to provide our...
Secure 2.0 Provisions: What Individuals and Plan Sponsors Need to Know for 2025
As we start the new year, retirement plan sponsors and participants alike will need to understand key changes brought about by the SECURE 2.0 Act, which aims to enhance retirement security across the United States. Many of the provisions within this landmark legislation are set to take effect in 2025, and it’s important to understand how these changes will impact both individual employees and plan sponsors, especially for defined contribution plans like 401(k) and 403(b).