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Small Business Research Board Construction/Contracting Industry Study: Taxes, Energy/Fuel Costs Now
Written by Web Master   
Saturday, 12 June 2004

Rapid Tax

Northfield, IL (rapid tax) June 30, 2007 -- Taxes along with energy and fuel costs were the leading concerns of construction and contracting businesses during the second quarter of 2007 according to the latest Small Business Research Board (SBRB) study released here today.

 

Owners of construction and contracting businesses responding to the nationwide poll co-sponsored by International Profit Associates (IPA) said health care costs, which had been the single most significant issue during the first quarter of 2007, fell to fifth. Finding quality employees and the general state of the economy finished third and fourth on the list of concerns.

 

IPA, with more than 1,800 professionals, is the largest privately-held provider of management consulting services to small and medium-size businesses in North America. IPA is based in Buffalo Grove, IL.

 

The quarterly poll of small business owners and managers also measured their interest in expanding their operations over the next 12 to 24 months. Fewer than one-third (31%) said they intend to expand during this period. Of those respondents, 34% said they are considering expanding at current locations, while 16% indicated they intend to increase customer service and 14% said they will provide more services. The addition of locations and adding new products tied for fourth with 10% of the owners reporting they are considering such plans in each of those categories.

 

Training is viewed as a primary measure for improving productivity. Improved staff training ranked first among the options for enhancing business efficiency during the second quarter. These same owners also said they would add staff (second) before improving automated systems (third) and adding new automation and technology (fifth).

 

"It is key for the construction and contracting businesses to invest in training, especially in respect to their optimistic hiring plans for the next 12 months," said Gregg M. Steinberg, President of IPA.

 

"The SBRB recently reported that its Constructions and Contracting Industry Small Business Confidence Index (SBCI) rose 4.6 points to 48 during the second quarter. The increase was driven entirely from plans for more hiring. If these businesses do not invest in their management processes, then they are going to rely more heavily on creating systems to enhance employee productivity to achieve operating goals," Steinberg added.

 

More than 100 small business owners participated in the nationwide construction and contracting industry poll. The universe of participants is developed from among small businesses across the United States. The SBRB study is a voluntary survey conducted quarterly.

 

The Small Business Research Board ascertains and reports the opinions of small business owners and managers on a wide variety of topics related to their own businesses as well as national and international issues that may impact their operations. The SBRB conducts these studies for the benefit of small business owners and managers. The SBRB also provides opportunities for third parties to gain real time insight into the attitudes of small businesses nationwide through the independently conducted research.

 

The latest information about the Small Business Research Board can be found at www.ipasbrb.com.

 

International Profit Associates, Inc. (IPA) is the largest privately-held provider of management consulting services to small and medium-size businesses in North America. IPA and its more than 1,800 professionals offer a wide range of proven and innovative methodologies to help businesses grow and prosper regardless of the economic cycle. IPA either provides directly or through its affiliated companies a comprehensive array of business advisory services, tax and estate planning services or merger, acquisition and other financial advisory services in the United States and Canada. More information about IPA can be found at www.ipa-iba.com.

 

SBRB Comparisons: All U.S. Small Business vs. Construction/Contracting

Second Quarter 2007

 

Leading Business Issues

All U.S. Small Business --- Construction/Contracting

 

1. Taxes --- Taxes

2. Economic conditions --- Energy/fuel costs

3. Energy/fuel costs --- Finding quality employees

4. Other --- Economic conditions

5. Health care costs --- Health care costs (tied)

Other (tied)

 

Copyright 2007 Small Business Research Board (SBRB)

 

For more information about this poll, results of previous studies or other matters related to the SBRB, please contact Raymond D. Minkus, (847) 441-4192.

 

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Last Updated ( Tuesday, 22 July 2008 )
 
A Clear Answer To Confusing Questions About Florida Deeds And Transfer Taxes
Written by Administrator   
Monday, 09 August 2004
Mesa, AZ (PRWEB) June 13, 2007 -- In response to numerous inquiries, Just A Minute, LLC. has posted information on their website about transferring real estate in Florida into the name of a Limited Liability Company. Many Florida property owners have voiced a concern as to the amount of tax they would be required to pay when transferring a Florida property to their LLC.

According to co-owners of Just A Minute, LLC Juli Walsh and Kari VanNoy, a 2005 Florida State Supreme Court case offers clarity. The case in questions is Crescent Miami Center, LLC vs. Florida Department of Revenue, 903 So. 2d 913 (Fla. 2005). The Florida Supreme Court issued a unanimous decision in the case, deciding that "a transfer from or to a party or parties, to or from a wholly owned transferee company, absent any exchange of value, is not subject to the Florida documentary stamp tax on deeds."

Walsh and VanNoy explained the decision this way:
"What this means is you can now (as of May 2005) transfer property from an owner to a single member LLC (or from a husband and wife to an LLC in which the husband and wife each own one-half of the membership interests) with no transfer tax."

"The freedom to transfer real property from personal ownership to an LLC or a Trust without paying a steep transfer tax is very important in protecting property or an estate and ensuring a smooth transfer of title to a designated individual or company," says VanNoy. Just A Minute, LLC encourages clients to transfer property in this way. The deed transfers they prepare also protect owners and companies from the "Due on Sale Clause" in many mortgages. Many mortgage companies write into their contract a clause stating the entire loan must be paid when a property is sold. This certainly makes sense. "What many people don't know," says Walsh, "is that if a mortgage company sees a transfer of the property to anyone but you (including a trust or an LLC); they can require full payment of the mortgage."

Simplifying legal information for clients is one of the services provided to clients by Just A Minute, LLC. They also handle all necessary paperwork for businesses to protect assets and company liability.    

About Just A Minute, LLC

For over ten years, owners Kari VanNoy and Juli Walsh, both paralegals, have been building their mission to educate and protect small business owners. They created Just A Minute, LLC to assist busy entrepreneurs and small business owners with their corporate and company minutes and resolutions to keep their company assets safe, secure and protected. To learn more about how they help busy executives stop playing catch-up and start getting ahead with their company paperwork, visit www.justaminutellc.com.
Last Updated ( Thursday, 06 March 2008 )
 
Why delay taxes with a 1031 exchange agreement
Written by Administrator   
Monday, 09 August 2004
Many companies and individuals enter into a 1031 exchange agreement to save money and increase value while deferring taxes until a later date.  This allows the sale profits of the relinquished property to be put directly towards the purchase of the replacement property, without money being removed from this amount for tax purposes.  This service comes in several forms and can save a business thousands while allowing for a more expensive property to be purchased.  This can mean the difference between an okay property and an amazing property.The premise of the 1031 exchange agreement is that a property, be it real estate, manufacturing, or livestock, can be sold and "replaced" with a like kind property of equal or gre...
Last Updated ( Thursday, 06 March 2008 )
 
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