Construction Monthly Magazine | Houston 2023 Build Expo Show Edition

More documents

Recommendations

Info

Recession Protection Strategies to Increase & Retain Your Working Capital By RICHARD RODGERS Founder – Dannah Investment Group LLC Richard@Dannahinvestments.com 214-614-2663 Booth FREE SEMINAR PRACTICAL STEPS TO INCREASE & RETAIN WORKING CAPITAL Wednesday, 2:30 p.m.-3:30 p.m. 445SILVER | Room 609 SPONSOR PLATINUM SPONSOR Without an offensive posture determined to save your company money, economic insecurities, supply chain disruptions, and managing a challenging workforce can influence companies to be more reactive, adjusting to the ever-changing rules and guidelines. Now is the time to be proactive, but most business owners cannot invest the hours to become a financial expert and stay current with the latest tax strategies. RICHARD RODGERS Founder – Dannah Investment Group LLC 1. Drop in sales of 50% from 2019 to 2020 or a 20% decline by quarter for the first 3 quarters of 2019 compared to 2021. 2. A business disruption caused by a governmental mandate. This second method is the area that our tax attorney qualifies most construction companies as eligible. If you have been told that you don’t qualify as a construction company, it is worth a call to explain why you might. 3. Rethink Health Insurance The American Healthcare Act has afforded the creation of programs beneficial to both the employer and the employee. These unique health insurance plans incorporate healthy lifestyle strategies that can make you as a business owner approximately $500 per employee per year. In addition, employees can save up to $1,800 per year by participating in the healthy lifestyle campaign. We help connect you to partners who manage all the details and allow you to add this benefit without changing the quality of care or even changing insurance companies. Businesses need a partner whose primary focus is to make companies more profitable. This can be accomplished through operational, insurance and tax strategies by minimizing your income tax so you can maximize your working capital to strengthen your company. We want to share 6 strategies you should consider to increase profitability at your construction company: 1. Conduct a Utility Audit A utility audit company can get you refunded for past overcharges while also saving on future bills. They will look back three years on your utility bills and determine if you have any bills you should not be paying. On average, 80-95% of companies qualify for a refund. They will also do an annual review for the next three years to help you find any additional savings. 2. Apply for the Employee Retention Credit Employee Retention Credits (ERC) came out the same time as Paycheck Protection Program (PPP) loans as an incentive program to help stimulate the economy during the pandemic. Originally, you could choose either a PPP loan or ERC. At the end of 2020, Congress decided you could get both, as long as you back out the money received from your PPP loan employee forgiveness as well as other requirements. There are two ways to qualify for the ERC: 4. Eliminate Credit Card Charges Credit card fees are changing dramatically. We can help you reduce or eliminate your credit card fees by using a merchant processing platform that lowers your monthly merchant credit card processing fee by up to 15-20%. You can also provide a potential rebate to each customer, putting money back in their pocket directly after each sale. 5. Be Proactive with Tax Planning Tax planning is not planning how much tax you have to pay; tax planning is planning on how to minimize your tax liability by utilizing tax strategies. We can help you reduce your adjusted gross income through charitable strategies and tax-deductible investments. This is a more customized approach and is worth a conversation. 6. Defer Your Capital Gains If you are selling your company at any point, you could be facing substantial capital gains. We have strategies to defer capital gains, thereby enabling you to earn investment income on what you would otherwise pay in taxes. We can also increase FDIC limits on cash balances above $1 million. To give you an idea on the cost savings if you took advantage of these strategies, we have included a sample Texas Construction Company with potential savings. Fictitious Texas Construction Company 50 Employees Monthly credit card sales: $100,000 Utility costs: $20,000 Texas Construction Company Strategy 1: Utility Audit Savings $24,000 Strategy 2: Credit Card Savings $42,000 Strategy 3: ERC Savings $756,000 Strategy 4: Health Insurance Savings $25,000 Strategy 5: Tax Planning Savings $285,392 Aggregate Savings: $1,132,392 As you can see, there are substantial savings in each strategy that your company could capitalize on. All of these strategies require no up-front cost to you, other than your time. By shifting to an offensive posture, you could save your company hundreds of thousands of dollars. 14 CONSTRUCTIONMONTHLY.COM
Booth #533 Over 30 years of Premium SILVER SPONSOR Hardwoods & Millwork Mason’s Mill and Lumber is a leading supplier of Custom Architectural Millwork, Green Building Materials, Hardwood Lumber Products, Plywood, Decking & Hardware. Including brands like Accoya, Thermory, Kebony, UFP Edge, Dekcorators, Levante Aluminum & ACRE by Modern Mill. www.masonsmillandlumber.com 9885 Tanner Rd, Houston, TX 77041 (713) 462-6975 info@MasonsMillandLumber.com SPECIAL HOUSTON SHOW EDITION 2023 15
Page 1 and 2: HOUSTON LARGEST BUILDING & CONSTRUC
Page 3 and 4: AMERICA’S PREMIER REGIONAL BUILDI
Page 5 and 6: 44 GHBA: Join with your Peers to Bu
Page 7 and 8: HOUSTON The Construction Monthly Te
Page 9 and 10: BUILT TO THE TOUGHEST STANDARDS: YO
Page 11 and 12: SCAN TO W AT C H DEMO GURULI WINDOW
Page 13: Building solutions together. You ha
Page 17 and 18: OR Booth 320 SILVER SPONSOR 713-304
Page 19 and 20: BRONZE SPONSOR ViSiT US AT BOOTH 25
Page 21 and 22: Current Open Locations Locations Un
Page 23 and 24: THANK YOU TO THE HOUSTON BUILD 2023
Page 25 and 26: FLOORPLAN Exhibit HOUSTON BUILD EXP
Page 27 and 28: SEMINARS & WORKSHOPS All Seminars a
Page 29 and 30: AIA 1.0 AIA Credit PVC101 — The B
Page 31 and 32: SAFETY ANSI Z359.14-2021 Self Retra
Page 33 and 34: AIA 1.0 AIA Credit Lightning Protec
Page 35 and 36: WEB MARKETING Google Partner and Ch
Page 37 and 38: PLATINUM SPONSOR WWW.UNIVERSALINJEC
Page 39 and 40: Windows and doors that matter more
Page 41 and 42: SILVER SPONSOR SPECIAL HOUSTON SHOW
Page 43 and 44: PLATINUM SPONSOR Booth 141 SILVER S
Page 45 and 46: Build expo MAKE SALES, GAIN LEADS,
Page 47 and 48: ADVERTISING RESOURCE GUIDE ROLL OFF

Construction Monthly Magazine | Houston 2023 Build Expo Show Edition

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?