2015 Construction Survey: Report Summary

Posted on Monday, October 19, 2015 by

Skoda Minotti has released the results of our 2015 survey of the Northeast Ohio Real Estate and Construction industries. Check out how your business compares to the overall trends in the industry.

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Construction Industry Jobs on the Upswing; So Where Are the Workers?

Posted on Wednesday, November 19, 2014 by

The U.S. Chamber of Commerce estimates that at least three million jobs are not being filled because of the lack of skilled workers. That figure is expected to reach seven million by 2018. It is rather ironic that the post-recession job growth in certain industries, like construction, is accompanied by the great lack of skilled […]

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How the New Revenue Recognition Standard Affects Construction Contractors

Posted on Thursday, October 9, 2014 by

When the Financial Accounting Standards Board (FASB) issued its new revenue recognition standard in May, it effectively swept away all preexisting GAAP in the area of revenue recognition, including guidance specific to contractors. While this is a substantial change considering the amount of guidance replaced and superseded, the changes for contractors may not be as […]

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Green Lease Leaders Program: Recognition

Posted on Thursday, August 7, 2014 by

Builders and developers have earned recognition in the past 10 years for elevating the U.S. Green Building Council’s Leadership in Energy & Environmental Design (LEED) program into an industry standard, but the commercial real estate experts in charge of the next step – how the sustainability plans get carried out – have been ignored until […]

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Buyers’ Dilemma – A Lack of Quality Assets

Posted on Thursday, August 7, 2014 by

As noted in the first quarter 2014 PricewaterhouseCoopers Real Estate Survey, investors in the commercial real estate (CRE) industry are optimistic, eager and well- capitalized, but the missing piece of most acquisition strategies is quality offerings. Exacerbating this situation is that access to both debt and equity capital continues to improve with very attractive interest […]

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The New IRS Repair and Maintenance Regulations Can Help You and Your Business

Posted on Tuesday, August 5, 2014 by

Effective September 19, 2013, the Internal Revenue Service (IRS) has finalized the regulations regarding the deduction and capitalization of expenditures related to tangible property (commonly referred to as the repair and maintenance regulations). These final regulations apply to taxable years beginning on or after January 1, 2014. There are new provisions in the regulations that […]

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Tax Pitfalls Facing Real Estate Investors

Posted on Thursday, July 31, 2014 by

For years, the passive activity loss (PAL) rules have plagued real estate investors who prefer to sit on the sidelines. But now, another tax wrinkle, the 3.8% Medicare surtax, may force you to re-examine your ways. Background: Generally, losses from passive activities can only offset income earned from other passive activities. For this purpose, a […]

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Why the Condition Precedent Matters in Contracts

Posted on Thursday, July 31, 2014 by

A little wording can go a long way, especially when it comes to the terms, “condition precedent” and “pay-if-paid.” For a subcontracting company called Transtar Electric, Inc., these simple phrases equated to lost revenues totaling more than $44,000, while protecting general contractor A.E.M. Electric Services Corporation from having to pay money never received from their […]

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Subprime Home Loans – A New Chapter

Posted on Wednesday, July 30, 2014 by

Wells Fargo, the largest U.S. mortgage lender, is slowly getting back into making subprime home loans. The bank is looking for opportunities to increase revenue, as overall mortgage lending volume declines. It believes it has dealt with its prior mortgage problems, particularly with U.S. home loan agencies, to be able to extend credit to borrowers […]

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U.S. Tax Court Rules in Favor of Residential Real Estate Developers Deferring Income

Posted on Friday, June 27, 2014 by

By: Roger Gingerich, CPA/ABV, CVA, CCA In a decision that proves favorable for residential real estate developers, the U.S. Tax Court ruled that California-based home-builder Shea Homes LP could use the completed contract method to defer the recognition of income related to the sale of homes within the development until the entire development was complete. […]

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