mback@inovautus.com, Author at Payne Nickles & Company - Ohio Accounting Firm, Business CPAs & Advisors

Why a Strong Budget Is the Blueprint for Construction Success

Key Takeaways A well-built construction budget gives contractors a dependable roadmap for controlling costs, managing resources, and protecting profit. Job costing systems, cost codes, and construction accounting software help companies track spending accurately through every phase of a project. Partnering with an accounting advisor ensures budgets are realistic, regularly monitored, and aligned with long-term business …

Key Takeaways Seasonal slowdowns can be managed through data-driven forecasting, flexible budgeting, and proactive financial planning that anticipate shifts in demand. Diversifying revenue streams and maintaining strong cash flow ensure profitability even when considerable projects pause or material costs fluctuate. Leveraging the One Big Beautiful Bill Act and investing in workforce development builds long-term stability …

Key Takeaways The One Big Beautiful Bill Act (OBBBA) makes most Tax Cuts and Jobs Act (TCJA) provisions permanent, keeping lower brackets, a larger standard deduction, and full business expensing in place. Temporary deductions for overtime pay, tips, and auto loan interest are available through 2028, creating short-term opportunities for additional savings. Business owners should …

Key Takeaways Consistent financial reviews help reveal risks before they disrupt performance. Tracking trends in cash flow, debt, and margins supports long-term stability. Transparent accounting builds trust and stronger financial decision-making. Looking Deeper: What Your Balance Sheet Might Be Revealing A balance sheet is more than a static list of numbers. It tells the …

Key Takeaways Beginning in 2026, employees aged 50 or older who participate in a 401(k), 403(b), or 457(b) plan and earned more than $145,000 from their employer in the previous year must make their catch-up contributions on a Roth (after-tax) basis. Employers must update plan documents, payroll systems, and employee communications to stay compliant. All …

Key Points An emergency fund is a financial buffer that helps firms cover payroll, materials, and obligations when disruptions strike. Planning for multiple scenarios and sizing reserves appropriately makes businesses more resilient. Use new opportunities, like those in the One Big Beautiful Bill, to strengthen your financial position and fund future growth. Navigating Financial Uncertainty …

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBB) into law, ushering in a transformative era for American tax policy. This legislation carries far-reaching implications for construction business owners—from capital investment strategies and workforce compensation to long-term succession planning. This industry-focused summary outlines the provisions most relevant to construction companies …

Key Takeaways Diversifying income helps businesses stay stable during change and uncertainty. Data-driven insights reveal which revenue opportunities will deliver the most impact and consistency. A flexible, forward-looking mindset builds the foundation for long-term business growth. Building Stability Through Smarter Revenue Design When a business depends on one primary source of income, it’s walking a …

At Payne Nickles & Company, we believe effective accounting goes far beyond compliance; it should be a strategic advantage for your business. Our approach focuses on more than just preparing tax returns and reviewing statements. We help our clients make proactive decisions all year long. This four-part series highlights practical—but often overlooked—strategies that can significantly …

Key points Business owners have retirement plan options beyond standard IRAs. Solo 401(k)s, SEP IRAs, SIMPLE IRAs, and cash balance plans can unlock powerful tax savings. The One Big Beautiful Bill (OBBB) introduces new deductions and planning opportunities. What Makes Retirement Planning Different for Business Owners? Running your own business comes with freedom and …