Category: Business

Have you prepared your business for the year ahead? As contractors, the beginning of the year is often reserved for laying the groundwork for the remainder of the year. While the past year has disrupted normal business planning sessions, it is important to make sure those pieces do not fall through the cracks. To make […]
Why You Need to Plan for Retirement When do you want to retire? Is there an age or benchmark that you want to reach before retiring? Retirement is not like selling a car, it is not a transaction that can be prepared, marketed, and sold in a couple of weeks or even a few months. […]
Imagine you’re told to build a birdhouse from a template. The template should come with an image of what the final birdhouse should look like and the step by step instructions to build the birdhouse. Now imagine you didn’t receive what the picture of the birdhouse should look like, or the instructions in order to […]
What is an entity? In the eyes of the law, an entity is a person that is separate from other businesses or individuals. An entity is a business, and it allows the business to act as its own person outside the direct connection to the owner. Legal entity formation is the business equivalent to giving […]
What does the Minnesota Wage Theft Prevention Act mean? Over the past few years, the Minnesota Department of Labor and Industry (DOLI) has shifted the foundation of construction. With the announcement of new legislature in 2019, the Minnesota Wage Theft Prevention Act has fundamentally altered the traditional methods general contractors and independent subcontractors operated on. […]
It has been months since Covid-19 started to loom over the world. During this period, we have seen numerous new situations arise that would have otherwise been irrelevant during a non-pandemic time. One of these situations that is particularly relevant to the nature of construction is Covid-19 liability. On July 27, 2020, the US Senate […]
Are You A Wage Thief? In May 2019, the state legislature passed new wage theft legislation and gave the Minnesota Department of Labor & Industry an additional $20 million to enforce the new law. No one condones the abuse of workers, least of all the vast majority of great contractors building Minnesota. But make no […]