It is essential that construction companies' operations be reviewed prior to year-end while considering the savings available from tax methods, depreciation, related party payments and other tax deductions and credits.
Claim the 179D Deduction for Eligible Past Construction Projects
While the future of the 179D deduction remains uncertain, business owners should take a look at their past projects while they still can to determine their eligibility.
Conflict in Court Over Income Recognition for Construction Contractors
The 9th Circuit Court’s review of how construction contractors should recognize income had a somewhat surprising outcome. The question being considered was: Should developers recognize income under the completed contract method when the entire project is complete or after the sale of each home?
Avoid Costly, Inaccurate and Inefficient Payroll Processing
Construction contractors should be careful to properly classify workers, pay prevailing wages and certify payroll on government projects, as well as pay state and local employment taxes at the right rate and for the correct amount of time a worker is on the job.
Qualifying for and Pursuing The R&D Tax Credit
More construction companies are taking advantage of the R&D tax credit than ever before and are realizing substantial savings in the process.
Dissecting the House Tax Blueprint
In June 2016, as part of Speaker Paul Ryan’s “Better Way” initiative, the House Ways and Means Committee rolled out its “Blueprint” for tax reform.
Bookkeeping Best Practices for a Smooth Tax Season: Construction Contractors Must Maintain Accurate Books to Understand Financial Health
By spending time each month making sure the company books are up-to-date, business owners will have a better idea about the financial health of the company, as well as a much less time-consuming and stressful tax season.
Trump’s Proposed Tax and Regulatory Changes Likely to Impact Construction Industry
Trump proposed big plans for changes related to tax credits, deductions, expenditures and rates that would affect construction companies. Learn how your business could be affected if his proposals gain congressional approval.





