Whether or not 2014 was a good or bad year for your construction business might have as much to do with how well you keep up with tax and regulatory changes as it does with how much new business you bring in.
That may sound like an exaggeration, but as Business Report notes in a feature from the current issue, many things have changed this year—and companies that don’t keep informed will be vulnerable to being blindsided by those changes.
Horne CPAs & Business Advisors provided the magazine with a list of six questions you should be asking yourself at the end of this year to determine whether your company is positioned for success in 2015.
The first question you want to consider is how you will avoid potential liabilities of the Patient Protection and Affordable Care Act. Other questions to consider are: Have you implemented changes to meet the new tangible property regulations? Have you considered the loss of deductions due to changes in depreciation for 2014? Is your current method of accounting right for your business? Is your current entity type right for you moving forward? Lastly, have you considered what your succession plan will be, while you still can?
Read the full feature to find out why these questions are so important for your business in the coming year and how they’ll impact your success or lack of it. Send your comments to editors@businessreport.com.
