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.
Five Things Every Auditor Needs to Know About Taxes This Year
Here are five things that every auditor should be able to discuss with construction clients for this coming tax year.
R&D Tax Credit Can Boost Cash Flow for Construction Companies
With the COVID-19 pandemic disrupting construction projects across the country, contractors should take a closer look at the federal R&D tax credit and how this lucrative tax incentive could mitigate the financial impact of this crisis.
CARES Act Provides Paycheck Protection, Loans, Tax Credits
The CARES Act provides approximately $2 trillion in aid to individuals and businesses throughout the country. Contractors are encouraged to consult with their accountants and financial advisers on the new payroll and tax provisions.
How Coronavirus Is Impacting the Construction Industry
The IRS extended the deadline to file tax returns and pay taxes, relieving some immediate financial fears for contractors related to COVID-19. Here are a few ways contractors can lessen the impact of the virus on other areas of their businesses.
Families First Coronavirus Response Act Signed
President Trump signed the Families First Coronavirus Response Act shortly after it passed through the Senate on March 18. The legislation, which goes into effect 15 days after enactment, includes several exemptions and tax credits.
