Posted on 11/30/2016 7:47 AM By Joanna Masterson
The U.S. Department of the Treasury issued proposed regulations targeting the valuation practices of family-owned businesses that would lead to dramatically higher estate and gift taxes by eliminating the use of discounts currently permitted.
Posted on 9/26/2016 6:03 PM By John B. Jackson
Leasing versus buying is a choice that can significantly change a firm’s future cash flow, tax strategy and net equity on the balance sheet. Both approaches have pros and cons, and it is important to understand the potential impacts of each option before making a decision.
Posted on 3/25/2016 12:10 PM By Liam Donovan
With the passage of the Protecting Americans from Tax Hikes (PATH) Act of 2015, Congress has significantly curtailed business tax uncertainty while putting “extenders” on a path to extinction.
Posted on 12/2/2015 8:10 AM By Barry Fischman and Dean Zerbe
Congress created the 179D tax deduction in response to the fact that 70 percent of electricity in this country is consumed by buildings—with nearly half of that attributed to commercial buildings. 179D is a common sense, technologically neutral way of encouraging energy efficiency in these specific types of power-demanding structures.
Posted on 11/30/2015 10:12 AM By Joanna Masterson
Under recently proposed and temporary regulations, the ability to file for an automatic W-2 filing extension will be eliminated on Dec. 31, 2016. Instead, a single 30-day extension will be available by application for the 2017 filing season and later.
Posted on 7/23/2015 4:20 AM By Marky Moore
Many businesses erroneously assume that the Research and Experimentation Tax Credit does not apply to them. In reality, the credit represents billions of dollars in savings for taxpayers each year and is available to businesses with an array of specializations, including construction, architecture and engineering.
Posted on 4/30/2015 2:36 PM By Stephen Wouch
Just as auditors are well served by brushing up before they begin a job, construction owners, contractors and any in-house accounting or bookkeeping personnel would do well to study the IRS’s Construction ATG. The introductory chapters that tell how the construction sector is structured and how contractors and subcontractors interact may seem elementary, but the subsequent content should be required reading to stay in line with the tax laws and understand issues that could cause problems.
Posted on 3/31/2015 7:56 AM By anonymous
While contractors should not hold their breath for a flatter, fairer and simpler tax system, the work of this Congress will absolutely move them toward that goal. In the end, it is undoubtedly better to wait on a comprehensive overhaul that rejuvenates the economy than settle for reform in name only.
Posted on 1/8/2015 2:44 PM By Lauren Pinch
The U.S. Senate passed a one-year “tax extenders” bill Dec. 16, retroactively renewing 55 previously expired tax credits and other key policies for the 2014 tax year. Among the newly extended policies important to the construction industry are increased expensing levels under Section 179 and 50 percent “bonus depreciation,” both of which make investing in big-ticket items easier by allowing businesses to write off large portions of capital purchases on their taxes.
Posted on 9/30/2014 1:40 AM By Jared Asay
Every company decision impacts cash, which in turn secures the business, the life and the legacy of the owner, and the lives of employees and their families. Tax planning is a valuable tool that, when done right, results in priceless financial peace of mind.
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