Given the U.S. Supreme Court ruling on the controversial Patient Protection and Affordable Care Act (PPACA), one of the provisions scheduled to take effect in 2013 is the 3.8 percent Medicare Contribution Tax (MCT) on net investment income.
The tax will apply to everyone with net investment income and modified adjusted gross income (MAGI) above $250,000 if married and filing jointly or $200,000 if filing as a single taxpayer. Continue »
Each year, more than 100,000 fires occur in multifamily residential buildings—causing an average of 390 deaths, 4,050 injuries and $1.2 billion in property loss, according to data compiled by the U.S. Fire Administration. Continue »
“A Resource Guide to the U.S. Foreign Corrupt Practices Act,” a 130-page compilation of information about the Foreign Corrupt Practices Act (FCPA), was published jointly on Nov. 14 by the Criminal Division of the U.S. Department of Justice (DOJ) and the Enforcement Division of the U.S. Securities and Exchange Commission (SEC). Continue »
As contractors and specialty subcontractors emerge from the recession, many face equity levels that have eroded during the last three to four years. General contractors and owners need to know more about who they are hiring; simply relying on reputation is no longer good business. Continue »
When the U.S. Supreme court voted 5 to 4 to uphold the individual mandate included in the Patient Protection and Affordable Care Act (PPACA), it ruled that it was under Congress’s broad authority to impose taxes on the American people. Continue »
Traditionally, each participant in a construction project obtains insurance individually to protect against the risk of financial loss. In recent years, “wrap-up” insurance programs have emerged as an alternative to the traditional method of risk management. In a wrap-up program, the project owner can purchase an insurance policy that will cover the participants involved in the construction project, including the owner, construction manager, general contractors and subcontractors. Typical wrap-up policies provide coverage for workers’ compensation, general liability and builder’s risk; however, program features vary based on the insurance company and the type of project. Continue »