3rd Annual ABC Craft Championships

3rd Annual ABC Craft Championships

Every year the Associated Builders and Contractors, Inc. (ABC) hosts a local Craft Championship Competition where 3rd and 4th year apprentices in HVAC and Sheet Metal programs compete to win an all-expense paid trip to compete in the ABC National Craft championship. The event is attended by students throughout the area where they’re able to watch the competition go down, play games and do activities at the various booths, take a ride in a scissor lift, and meet representatives from local construction companies. The event is open to the public and lunch will be served between 11am – 1pm.  Please come join us for an afternoon of construction fun and workforce development. 2017 ABC Craft Championship October 20, 2017 8:00 a.m. – 3:00 p.m. 2201 NE Columbia Blvd. Portland, OR 97211 The Craft Championship was born out of a desire to promote early workforce development for the construction industry, made all the more urgent by the labor shortage. ABC is currently looking for sponsors, volunteers, and/or those willing to host a booth at the event.  Contact Laurie Kendall at lkendall@abcpnw.org or 503-726-5440 for details.   The 2017 competitors are as follows: HVAC Competitors Skyler Benoit Wendel Beachey Scott Kirk Cameron Church Brady Petersen Hunter Davisson Bull Mountain Pro Temp Associates Reitmeier Specialty Heating & Cooling Sheet Metal Competitors  Chris Neffendorf Gilberto Soto Elijah Rodden HVAC, Inc. American Heating HVAC, Inc....
How Two Oregon Legislature Bills Affect Your Construction Company

How Two Oregon Legislature Bills Affect Your Construction Company

Two bills recently passed the 2017 Oregon Legislative session that affect the construction industry. Since I know all of you are eager to sift through employment law in your spare time, allow me to summarize the pertinent points for you. House Bill 2005 – Pay Equity Law The pay equity law is an employer-friendly bill making it easier to defend against a wage discrimination claim brought by an employee.  It allows an employer to pay employees different compensation for the same or substantially similar work. To use an example provided by Amanda Gamblin, Employment Law Attorney and Shareholder at Schwabe, Williamson, & Wyatt, let’s suppose a female roofing employee brings a suit against her employer alleging pay discrimination.  The employer responds that the pay is not discriminatory but is rather based on production, and said employee doesn’t install roofs as quickly as her coworkers, all of whom happen to be male.  The employee then claims that this is indirect discrimination since the average woman can’t install roofs as rapidly as the average male. This employee’s response will no longer hold up in court under the new pay equity statute because the Oregon Legislature has specifically cited productivity as being an appropriate basis upon which to determine pay.  Other permissible bases are education, training, work location, seniority, experience, any system upon which pay is determined by quality or quantity of output, or any combination of the above. There are some other factors that should be noted about House Bill 2005.  First, if an employer performs an equal pay analysis every three years and remedies any resulting discrimination, then an employee...
Financial Forecasting

Financial Forecasting

How do you manage the financial aspects of your company?  Do you plan for future events or do you react as events occur? Most companies do a reasonable job of preparing monthly financial statements.  However, these report on what has already happened. History!  A financial forecast provides a forward looking view that can be an incredible tool for managing your company. A financial forecast is a living document that is monitored and updated monthly.  A forecast uses big picture assumptions to model what your financial statements may look like based on your current knowledge and expectations.  It does not get into the details of the financial data. Following are steps in developing a financial forecast: Identify your vision and goals for the company in the coming year.  Is the company planning to grow significantly, or not.  Is the company planning to move into new markets or types of work, or continue with projects similar to the ones in the past? As you create a vision of where the company wants to go, you’re thinking about the future rather than re-hashing the past. Create assumptions for what you think is likely to happen financially.  Here you consider the goals, but evaluate what is realistically likely to happen.  This is not wishful thinking.  Expected profitability, cash flow, etc. must be identified and projected for the forecast period. If your goal is to increase gross profit from 15% to 20%, you must look at the work in progress to determine if this is realistic.  What is the strategy for improving job profitability?  Is the company planning to bid a different type of...
Jones & Roth Joins Surety Association of Oregon at Top Golf

Jones & Roth Joins Surety Association of Oregon at Top Golf

Friday September 8th, 2017 – The Construction team at Jones & Roth CPAs and Business Advisors was honered to attend the Surety Association of Oregon (SAO) sponsored Par-Tee at Top Golf in Hillsboro. Sureties, insurance agents, attorneys and accountants, met for golfing fun to hit balls assigned using microchip technology into targets.  The more accurate the shot and the farther the distance, the more points earned.  And of course drinks and appetizers only added to the entertainment.  It was a fantastic event, and a success in its mission to bring us together as professionals and get to know one another better. SAO is a professional non-profit trade association for those engaged in the surety industry and related fields.  Quarterly luncheon meetings and activities are held, with its most popular event being the Holiday Party where they feature and bring awareness to a local charity and hold a holiday...
Jones & Roth Presents at AGC Oregon – Columbia 2017 Summer Convention

Jones & Roth Presents at AGC Oregon – Columbia 2017 Summer Convention

August 12th – Skamania Lodge, Stephenson WA The Jones & Roth Construction Team Presented at the 2017 AGC Oregon – Columbia Chapter Summer Convention. The Convention featured educational break out sessions designed to equip contractors with best practice business management expertise. Jim Christian, CPA, CCIFP and Evan Dickens, CPA presented  Tips & Techniques for Detecting and Preventing Fraud in Your Construction Company. Content highlights included: major forms of business fraud including fraudulent financial reporting (lying), and misappropriation of assets (stealing). When does fraud happen? Who prevents fraud? The CPAs role. Warning signs of fraud. Considerations in banking and technology. Considerations for Employees. A minimizing risk checklist, and the fraud triangle. To receive a copy of the presentation slides and outline appendix please contact info@jrcpa.com The Jones & Roth Construction CPA & Advisory Team works with family-owned and closely held construction businesses in the construction and real estate development industries. The team provides accounting, advisory and tax guidance that allows construction clients to achieve maximum profitability.                            ...
Real Estate Investor vs. Professional: Why it Matters

Real Estate Investor vs. Professional: Why it Matters

Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this matter? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses generally are deductible only against passive income, with the excess being carried forward. Of course the NIIT is part of the Affordable Care Act (ACA) and might be eliminated under ACA repeal and replace legislation or tax reform legislation. But if/when such legislation will be passed and signed into law is uncertain. Even if the NIIT is eliminated, the passive loss issue will still be an important one for many taxpayers investing in real estate. “Professional” requirements To qualify as a real estate professional, you must annually perform: • More than 50% of your personal services in real property trades or businesses in which you materially participate, and • More than 750 hours of service in these businesses. Each year stands on its own, and there are other nuances. (Special rules for spouses may help you meet the 750-hour test.) Tax strategies If you’re concerned you’ll fail either test and be subject to the 3.8% NIIT or stuck with passive losses, consider doing one of the following: Increasing your involvement in the real estate activity. If you can pass the real estate professional tests, the activity no longer will be subject to passive activity rules. Looking at other activities. If you have passive losses from your real estate investment, consider investing in another income-producing trade or business that will be passive to you. That way, you’ll have passive...