Considerations for Employee Benefit Audits
Construction firms can take precautionary steps to ensure successful employee benefit audits this year.
Timing Is Important in Reporting Profits and Losses
The timing of reporting income or deferring costs can have a significant impact on a contractor’s income tax liability. Implementing tax planning strategies can make a big difference.
Considerations When Balancing Strong Financial Statements and Tax Savings
Often, the primary focus for year-end is the tax liability based on the company’s annual earnings. However, sometimes the requirements for financial reporting purposes conflict with expectations regarding taxable income. Planning for this is essential.
Year-End Tax Planning Strategies for Contractors
Taking a strategic approach to tax planning can be beneficial, contractors should weigh costs verses benefits before implementing any tax planning strategy.
Worker Classification: Employee or Independent Contractor?
Government crack-downs on misclassification of employees, along with class-action lawsuits challenging the classification of some employees, could cost an employer back pay, liquidated damages and fines.
2019 Executive Insights: Construction Accounting
Industry experts share insights and best practices for construction accounting.
Construction Accounting Methods for Financial Reporting and Income Tax Reporting
Here are several scenarios highlighting the accounting treatments available to construction contractors that may differentiate their financial reporting from their income tax reporting.
Building a Constructive Future With TCJA
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.
