Artificial intelligence (AI) has been receiving plenty of press coverage lately, much of it negative. Like many technological innovations, AI is certainly susceptible to abuse and it’s far from infallible. However, AI has the potential to transform the way contractors do business — both in the office and on the jobsite. That’s why forward-looking contractors…

Cash flow is the lifeblood of every business, but it’s especially vital for construction companies. In an industry characterized by razor-thin profit margins, solid cash management practices can make the difference between success and failure. And healthy cash flow is even more important today in light of the Federal Reserve’s recent interest rate hikes. As…

Congress enacted the CTA in 2021 to provide information about certain entities, their owners, management, and individuals to fight money laundering, tax fraud, and other illegal activities. The CTA requires reporting companies to provide specific information about the entity, beneficial owners, and company applicants to the US Department of the Treasury’s Financial Crimes Enforcement Network…

Iannuzzi Manetta and CICPAC (the association of CPAs who know Construction), in collaboration with economist Dr. Chris Kuehl and Armada CI, have finalized the latest economic report that targets the construction sector. The report offers a comprehensive analysis of various factors that affect the construction industry on a macro level, including regional construction spending, raw materials, supply chain, banking and financing matters,…

The Tax Cuts and Jobs Act (TCJA) imposed a new limitation on deductions of business interest expense by certain companies. And the limit, found in Section 163(j) of the Internal Revenue Code, became even more restrictive in 2022 — especially for capital intensive businesses. As a construction business owner, you should determine whether the deduction…

Although you can’t avoid taxes, you can take steps to minimize them. This requires proactive tax planning — estimating your tax liability, looking for ways to reduce it and taking timely action. To help you identify strategies that might work for you in 2023, we’re pleased to present our annual tax planning guide. This year’s…

The continued impacts of the Inflation Reduction Act of 2022, the Tax Cut and Jobs Act (TCJA) and CARES Act of 2021, continues to drive an active tax policy environment. This constant change requires continued analysis and proactive planning for CPAs and their contractor clients.Iannuzzi Manetta is a proud member of CICPAC, the CPAs who…

The IRS has announced an immediate moratorium on processing new Employee Retention Credit (ERC) claims through at least the end of the year. This decision comes amid rising concerns about a flood of improper claims, putting honest small business owners at financial risk from scams. IRS Commissioner Danny Werfel ordered the immediate moratorium to run…

Iannuzzi Manetta and CICPAC have recently collaborated with economist Dr. Chris Kuehl and Armada CI to launch this economic report specific to the construction industry. The report offers a comprehensive analysis of various factors affecting the construction industry on a macro level, including regional construction spending, raw materials, supply chain, banking and financing matters, and…

Because of COVID 19, congress passed many programs to keep people employed when companies were dealing with the impacts of COVID. One of those programs is the Employee Retention Credit (ERC). The ERC was originally introduced under the CARES Act, but the Consolidated Appropriations Act signed on December 27, 2020 made some amendments to it,…