Although many filers spent 2018 reacting and adjusting to the new law, 2019 should be the year to focus on future strategies and understand how to proactively position their construction firm for success under the new tax regime.
Avoid Tax Trouble by Ensuring Construction Workers Are Correctly Classified
With the recent increase in the number of federal and state task forces aimed at curbing tax fraud, construction companies would be wise to ensure their businesses are in compliance with tax laws. Contractors can reduce the risk of an audit and incurring costly penalties by accurately classifying workers.
Three Best Tax Reform Changes for Contractors
The Tax Cuts and Jobs Act comes with many positive aspects, regardless of its less-than-stellar reputation. Following are three ways TCJA benefits construction contractors.
Entity Structure for Contractors Under the New Tax Law
It is important to analyze the unique characteristics of each business while considering the federal and state tax implications and the business’ long-term intentions to pick the right entity structure.
How Contractors Can Thrive Despite Tariffs and Labor Shortages
How can contractors weather this perfect storm of escalating costs and a shortage of workers? Here are a few tips.
Depreciation Rules Under the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act of 2017 changed the depreciation rules for qualified real property. Contractors need to be aware of these changes, as well as how certain assets need to be depreciated or expensed under TCJA.
Everything Contractors Need to Know About the Tax Cuts and Jobs Act
Although the total impact of the Tax Cuts and Jobs Act (TCJA) will only be determined with time, certain changes that begin with the 2018 tax year will have an immediate impact on contractors.
Will Opportunity Zones Accelerate Gentrification or Spur Critical Investment in Distressed Areas?
State and local officials will need to play a critical role in layering incentives to direct opportunity zone investment in projects with the greatest long-term benefits to local communities.










