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Category: Commercial Real Estate

December 28, 2019

Affordable Care Act Compliance: What Do I Do If I Get IRS Letter 226J?

The IRS is currently issuing the Letter 226J proposed employer-shared responsibility payment (ESRP) notice to businesses they suspect of having not complied with the 2017 tax-year Affordable Care Act requirements. The Letter identifies the amount of the proposed penalty that the business would be responsible for paying— an amount which can be steep. CBM has seen penalty amounts ranging from $3,160 to over a million dollars. CBM advises businesses that receive such a letter to respond promptly, especially since Letter… Read more ›

October 6, 2019

IRS Issues Final QBI Real Estate Safe Harbor Rules

  Earlier this year, the IRS published a proposed safe harbor giving owners of certain rental real estate interests the opportunity to take advantage of the qualified business income (QBI) deduction. The QBI write-off was created by the Tax Cuts and Jobs Act (TCJA) for pass-through entities. The IRS has now released final guidance (Revenue Procedure 2019-38) on the safe harbor that clearly lays out the requirements that taxpayers must satisfy to benefit. QBI in a nutshell The TCJA added… Read more ›

August 21, 2018

Job Cost Accounting: Seven Tips to Make It Easier

Job costs are the lifeblood of your construction business… and accurately estimating them will determine if a project will make money. Managing job costs across the life of the project will ensure that your firm makes money on every job. Moreover, those job-by-job profits make the office and your executive salary possible. Despite this, some CFOs don’t take job costs seriously. Some see tracking those costs as more trouble than it is worth, while others think that the costs are… Read more ›

December 6, 2017

CBM Managing Partner Peter B. Reilly Chairs GWSCPA’s 1st Real Estate/Construction Conference

Peter B. Reilly, CPA, CVA president and managing partner of CBM – Councilor, Buchanan & Mitchell, P.C., is chairing the committee responsible for developing the Greater Washington Society of CPAs’ 1st Real Estate and Construction Conference. The conference will be held on Thursday, December 14, 2017 at the National Association of Home Builders in Washington, DC. Click here to register. The conference, intended for accounting and financial management professionals in the real estate or construction industries, and representatives from accounting… Read more ›

February 14, 2017

Satellite Locations or Consolidation: Review the Details

When business starts to increase, it’s time to dig in your heels a little deeper to turn your firm’s revenue growth into an upward trend — rather than just a good month. Buying or renting a larger facility can help. There are certain key factors to consider when making a decision to expand or consolidate your physical plant operations base. Here are some questions to consider before you start allocating dollars to the plan: Do You Want To…    … Read more ›

November 17, 2016

Being “Green” Is Becoming Increasingly Status Quo

Call it Green or call it sustainable, whatever term you choose, it identifies a building movement that appears to have become mainstream. This environmentally friendly way to construct involves the architects, engineers, designers and contractors — everyone who has a say in the life cycle of a skyscraper, a home or a renovation. This article looks at technologies used to make buildings sustainable and environmentally friendly.