Posts Tagged 'Tax'

We are pleased to present below all posts tagged with 'Tax'. If you still can't find what you are looking for, try using the search box.

Proposed Death Tax Increase Targets Family-Owned Businesses

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.

Property Leasing Vs. Owning: What Makes Sense for Your Business?

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.

On the ‘PATH’ to Better Tax Policy

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. 

FAQs About the 179D Deduction

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. 

IRS Curtails Automatic Extensions for W-2 Forms

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. 

How to Reap the Benefits of the Lucrative, Underutilized R&E Tax Credit

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. 

Take an Auditor’s-Eye View of Your Construction Business

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.

Groundhog Day for Congressional Tax Reform Efforts

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.

Tax Credits Extended for One More Year

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.

Improving Cash Flow Through Proactive Tax Planning

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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