D&M Construction Industry Newsletter

January 2024

Lori Beirman

Featured Article From Our Experts

Prevailing Wage – What Do I Need To Know?

Micron Technologies has announced plans to build a new semiconductor fabrication facility in Onondaga County. The project is expected to receive up to $5.5 billion in tax incentives from Albany's "Green CHIPS" program, which requires compliance with prevailing wage rules. The facility will create several job opportunities in the area and contribute to the growth of the local economy, and prevailing wages will be a key component. In this article, you will learn the history and significance of prevailing wages and why it is iessential to be aware of.

How Construction Company Owners Can Build a Succession Plan Framework

As a construction company owner, you've worked hard to build your business and establish a strong reputation in the industry. At some point, though, you may need to start thinking about your exit strategy. Whether you're planning to retire, sell the business, or pass it on to a family member or trusted employee, it's important to have a clear plan in place. This article outlines steps you should take when building your succession plan to ensure business continuity.

Tax Fundamentals for Construction Businesses in the New Year

As we step into the new year, it's important for construction businesses to plan and prepare to minimize their tax liabilities. One of the most effective ways to reduce the risk of a hefty tax bill at the end of the year is to implement a comprehensive strategy that considers various factors such as income, expenses, tax credits, and deductions. In this article, you will find several fundamental tax planning considerations to keep in mind.

The Impact of ESG in Construction

The trend of environmental, social, and governance (ESG) practices is growing, and it is crucial for your businesses to understand and implement them. Sustainability, employee wellness and ethical business practices are just a few aspects to make sure your business is on board with. This article addresses how ESG applies to construction businesses and why it matters.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders and maintain active involvement with our construction clients and the many organizations affecting their businesses. We stand out from our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Our comprehensive familiarity with all aspects of construction allows us to help you in business planning and long-term goals, while also resolving your daily operational needs to maximize cash flow.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street, Suite 101, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

3001 N. Rocky Point Drive, Suite 214, Tampa, FL 33607

To learn more about Dannible & McKee, visit us at www.dmcpas.com.