Ron Skufca – 12-6-12 – presented a Seminar to Construction Law Attorneys Regarding Major NC Lien Law Changes.
Builders, GC’s, Subs, and owners should contact Ron at Ron@skufcalaw.com to learn how the following changes and more will affect each party to the construction process:
Approaching the “Fiscal Cliff”.
Jan. 1, 2013 will bring major tax changes unless Congress acts before the end of the year, including an increase in the long-term capital gains rate (which applies to dividends from closely-held local businesses as well as to your stock portfolio) and a new 3.8% tax on investment income which is part of Obamacare. The 3.8% surtax applies to rental income as well unless you are a “professional in real estate”. Most likely, you aren’t. Give us a call ASAP or talk to your tax advisor now while there is still time to plan before the end of the year.
Insurance – Your First Defense Against Liabilities and Losses.
Many businesses damaged by Hurricane Sandy did not have flood or business interruption insurance. Also, some businesses which were just in the process of starting up did not yet have their insurance in place. Big mistake! When starting a new business or location, insurance is one of the VERY first things you should handle – no later than the FIRST day you start or begin to move in. Now is a great time of year to meet with your insurance agent to make sure that you have the proper coverages in place.