Top Construction Issues of 2024 and More
PBMares, LLP
PBMares is an accounting, tax, and consulting firm serving the needs of companies and individuals.
Valued at $1.8 trillion, the U.S. construction industry is riding a wave of strong growth, thanks to a surge in infrastructure and manufacturing investments. It’s an exciting time as the sector embraces cutting-edge technologies and pivots towards sustainable building practices. However, it’s not without its challenges. The industry is grappling with significant economic pressures, including inflation and labor shortages. Amid these hurdles, industry leaders are proactively dissecting these issues and devising strategies aimed at ensuring future stability and fostering growth.
IN THIS ARTICLE:
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5 Target-State Questions for Construction Organizations Developing a Process Optimization Plan
Process optimization is a journey rather than a destination. However, the quality of the experience and the level of progress made toward important objectives can vary.
To ensure the journey is a positive experience for all involved and produces the best possible outcomes, planning is essential. Asking the right questions will boost the effectiveness of the plan and the results
Beginning with the right questions means the project is more likely to:
Read about the 5 questions that organizations can use to focus the journey of optimizing critical processes to drive growth, minimize costs, and enhance employee and customer satisfaction. Learn more here.
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What the Realtor Lawsuit Settlement Means for the Real Estate Market
The National Association of Realtors (NAR), representing over 1.5 million members across residential and commercial real estate sectors, has settled a major antitrust lawsuit for $418 million. The litigation involved a class of home sellers and several major brokerages, accusing them of artificially inflating sales commissions. This landmark settlement can drastically change the dynamics of buying and selling homes, possibly reducing homeowners' costs and significantly altering real estate professionals' operations.
As part of the settlement, homeowners who sold properties within the last seven years may qualify for compensation from a collective class-action payout. The actual amount each claimant receives will depend on how many eligible homeowners submit claims by the May 9, 2025 deadline. This arrangement may affect tens of millions of Americans.
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Building Your Success from the Ground Up
For decades, PBMares has helped contractors and real estate developers navigate through the troubled and ever-changing waters of this industry. Contractors, developers, heavy construction specialists, home builders, land developers and specialty trades professionals all face their own challenges as they strive for success in the industry, but they have one thing in common: the need for excellent accounting and financial advisory services. Since every client is different, we strive to listen carefully to each one so we can identify opportunities and communicate clearly the options and choices available. Our goal is to provide all clients with the current, comprehensive information required to make the best decisions for their company.
Meet the team leader: Jennifer French, CPA