The construction and real estate industries face distinct business and tax challenges due to potential complex operational structures, extended project timelines, compliance requirements and regulatory environments. If you are a general contractor, specialty subcontractor, developer, engineering firm or architectural firm, we have the experienced professionals that know the industry and have the expertise in financial operations, tax planning and reporting to meet your current needs and future goals.
Our nationwide client base includes:
How can we help?
We understand that the construction and real estate industry has unique challenges, such as fluctuating cash flow, contract complexities, compliance requirements, and tax regulations. Our construction, real estate and design team has the experience and determination to resolve these challenges by providing you with the guidance and expertise we have developed over thirty years in assisting our clients within the industry. Our goal is to assist your company in meeting your current needs and future goals.
We work with our clients to help them provide the reliable financial data that they need to satisfy stakeholders such as investors, lenders, sureties, and regulatory authorities. We offer tax planning strategies to minimize tax liabilities while also providing tax compliance services to assure that all reporting is done in compliance with existing tax laws and regulations.
Our services include:
What can you expect when working with LB Carlson?
Our professionals have the industry knowledge, experience, and dedication to resolve the challenges of financial and tax reporting you face during each stage of your business. By being proactive, we get to know the operational aspects of our clients allowing us to uncover planning opportunities that can contribute to cost saving and increased profitability. Our construction group has over 40 years of experience and we pride ourselves in maintaining continuous successful client relationships through the entirety of that time.
To aid individuals during this time of economic uncertainty, the CARES Act has a few provisions that change some of the rules for retirement plan distribution rules, allowing qualified individuals access to their retirement funds. Below we have summarized what you need to know about retirement plan relief under the CARES Act.
The President signed the latest COVID-19 relief bill on March 27: The Coronavirus Aid, Relief, and Economic Security (CARES) Act. The bill brings with it several elements of relief for businesses, employees and families, in an effort to maintain livelihoods throughout the crisis and after. The expected cost of the bill is nearly $2 trillion and includes nearly $500 billion for in economic distress relief for businesses, states and municipalities.
The IRS has announced that employers required to provide emergency paid sick leave and emergency paid family and medical leave under the Families First Coronavirus Response Act (the Act) can begin taking advantage of two new refundable payroll tax credits. Equivalent credits are available to self-employed individuals based on similar circumstances.
The COVID-19 virus has made fast, drastic changes to how we live and work. State-mandated business closures are creating challenges and generating many questions on how to preserve business continuity during this period. On March 18, 2020, President Trump signed the Families First Coronavirus Response Act (FFCRA), which takes effect on April 2. The bill expanded paid sick leave and unemployment benefits, impacting employees and employers, among other provisions.
Qualified small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA) after President Trump called for an additional $50 billion in funding to the SBA’s lending program from Congress in response to COVID-19. While the SBA waits for the $50 billion to be approved, they can deliver an Economic Injury Disaster Loan declaration in response to the Coronavirus Preparedness and Response Supplemental Appropriations Act recently signed by the president.
The Families First Coronavirus Response Act (FFCRA), passed by Congress and signed by President Trump on March 18, 2020, will become law 15 days after the signing. FFCRA provides benefits such as paid sick leave, free coronavirus testing, expanded food assistance and unemployment benefits, and requires that employers provide additional safeguards for health care workers. For many, it provides welcome support as employers and employees deal with the extraordinary effects of COVID-19 on the workforce and economy.
