Demand for services is cyclical, and can vary sharply from year to year. Proper planning is needed in order to weather the cyclical ups and downs. As a firm headquartered and operating in South Florida for more than 30 years, we are well aware of the areas’ fluctuations and needs.
Contractors often struggle to find suitable buyers for their companies when they’re ready to retire or otherwise move on. That may be why many construction businesses implement employee stock ownership plans (ESOPs). These plans offer a gradual exit strategy and other benefits that can pay off for owners and employees.
Under a performance bond, a legally binding agreement is established between a construction company, a surety (the bond provider) and a project owner. Essentially, the bond guarantees that the business in question will fulfill the performance obligations of the construction contract or the surety will step in and assume liability
Businesses structured as partnerships, S corporations or limited liability companies generally aren’t subject to the federal corporate income tax. This is because tax liability “passes through” such entities to each business partner’s individual level. If your construction company operates under one of these entity types, you may have a new way
WEST PALM BEACH
Esperante Building
222 Lakeview Avenue
Suite 1200
West Palm Beach, FL 33401
(561) 798-9988
Fax: (561) 798-4053
FORT LAUDERDALE
The Main
201 East Las Olas Boulevard
Suite 1650
Fort Lauderdale, FL 33301
(954) 333-0001
Fax: (954) 765-0719
