On April 21, President Biden announced a paid leave tax credit under the American Rescue Plan Act (H.R. 1319) that will help offset the cost for employers to provide full pay for any time their employees need to get a COVID-19 vaccination.
Actions to Take After Receiving a Paycheck Protection Program Loan
The multiple rounds of PPP reform are intended to offer greater relief to business owners. However, the changes also introduced questions around the tax treatment of PPP loans and their forgiveness under the PPP.
Go Green, Save Green: Permanently Extended Tax Deduction Creates Business Opportunity
One of the provisions of the Consolidated Appropriations Act of 2021 made the energy-efficient commercial building tax deduction permanent. Used carefully, the deduction can allow economic incentives to work for businesses and governments with very tight budgets.
Uncertainty Brings More Opportunities for Private Contractors
While the industry continues to experience an increase in residential construction, other sectors are not doing as well. Private contractors in sectors that are declining should consider changing how they do business, what they produce or both.
Tax Planning for 2021: What Can Construction Firms Do?
In this environment of increased uncertainty, tax planning is not only possible, it is a critical step in preparing for 2021.
Tax Questions Every Contractor Should Consider Entering 2021
At the start of 2021, contractors should consider the following questions to determine if they have taken advantage of all available tax elections.
Understanding the Impacts of Implementing Topic 606
Understanding the ramifications of Topic 606 and the differences between the varying financial reporting and tax rules is imperative.
Three COVID-19 Tax Benefits To Maximize Before 2020 Ends
Congress has provided tax credits and benefits to help ease the economic blow of COVID-19. Businesses need to maximize these before 2020 wraps up to help sustain operations and to set up a 2021 recovery.











