Among current business and industry issues, two stand out in the minds of small and mid-sized construction companies: tax increases and banking restrictions. After years of lower taxes, it almost seems inevitable they will rise, [...]
Ready to Mobilize in 2021: 10 Things Every Contractor Should Consider
Everyone has their own descriptions of the type of year 2020 was. Words like “challenging,” “uncertain,” “reinvention,” “THE election” come to mind, but perhaps the catchall description is “unprecedented.” It is not often that the [...]
New Lease Accounting Standard: Deferred But Not Forgotten
Although the new lease standard implementation has been deferred, contractors must review current and future lease agreements to proactively position and prepare the entity’s financials.
Small Businesses Get Tax Credit for Providing Vaccine PTO
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.









