Taxes

The EB-5 Regional Center Program is back as of this March and, especially in today’s economy, that’s good news for the construction industry. Why? The majority of EB-5 funds go toward real estate construction. As interest rates rise, traditional financing for such projects becom...

The recently signed U.S. Infrastructure Investment and Jobs Act is expected to infuse $550 billion into the transportation, broadband, utilities and related sectors over the next five years. This year alone, federal highway and related infrastructure spending is anticipated to gr...

Most people think that being classified as a real estate professional for tax purposes is reserved for realtors, agents, brokers, attorneys, investors and other professionals who hold a license or designation. However, this is not always the case. For example, construction contra...

Not properly tracking construction expenses—or failing to track them at all—can lead to everything from late materials deliveries to bankruptcy. As contractors focus on what they’re building, they must make time to properly account for expenses. The What and Why of Tracking Expe...

It is important for taxpayers to be wary of circumstances that could potentially trigger state and local tax. Simply selling to customers who are physically located in multiple states can trigger a nexus. A "nexus" is having a connection to a state, which then allows that state ...

With the Build Back Better (BBB) Act that passed the House last November now stalled in the Senate, many construction businesses throughout the country are hoping that their tax future remains certain as they continue to recover from the pandemic and begin the critical work neede...

The construction industry is uniquely complex in regard to the myriad available tax methods of accounting. Selecting the appropriate method is a critical first step for optimizing tax strategies. A contractor determines the appropriate method of accounting for a long-term constr...

Many small businesses posted a strong year of growth in 2021 as government stimulus, changing lifestyles and improved COVID-19 conditions fueled consumer spending. This trend is expected to continue in 2022 as supply chains begin to unclog, domestic production capacity improves, ...

There are a lot of strategies that contractors can use to reduce their income tax liability. One option is to take a net operating loss (NOL) carryback or carryforward. The decision to take a carryback or carryforward depends on profits, tax rates and timing. If profits and tax r...

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, was among the government’s first legislative responses to the pandemic. The main goal of the legislation was to reduce the economic impact of COVID-19 on people and businesses across the country. One key focus of the...