Final Pass-Through Deduction Regs Offer Welcome Guidance In January, the IRS issued final regulations under Internal Revenue Code Section 199A. This section allows owners of pass-through entities — sole proprietorships, partnerships, limited liability companies and S corporations — to deduct up to 20% of their qualified business income (QBI) from those entities. Owners of construction…

Watch Out for Joint Employer Rule There’s no getting around it: Construction is an inherently collaborative enterprise. Many, if not most, projects involve a variety of contributors. But therein lies a danger. Contractors who exercise control over the employees of subcontractors or other parties — or reserve the right to exercise such control — risk…

Steel Prices Lead the Rising Material Costs Tariffs on steel and aluminum have recently contributed to rising materials costs. There are many other factors that can cause prices to escalate, too, including shortages brought about by building booms in other parts of the country or world; environmental issues, such as loss of forestlands; and rising…

New and Improved Research Credit Benefits Smaller Companies The Protecting Americans from Tax Hikes Act of 2015 made the research credit permanent after decades of short-term renewals. It also made two important changes that expand the benefits of the credit for smaller businesses. First, beginning in 2016, the act allows businesses with average gross receipts for the…

Valuable Information to Help You and Your Company Minimize the Tax Burden It’s here! The 2018-19 Tax Planning Guide! It does require some proactive planning, estimating your tax liability, looking for ways to reduce it and taking timely action. If you don’t have the time necessary, we can help. > Reach Out Guide contents include: How…

Is it time for a change? Almost a year ago, the Tax Cuts and Jobs Act (TCJA) was signed into law. It may be best known for slashing corporate and individual income tax rates. But another change made by the act will have a big impact on many construction companies — particularly those with gross…

AFFORDABLE CARE ACT TAX OVERVIEW: Stay on the good side of changing requirements and opportunities Employers face a variety of tax-related compliance requirements under the Affordable Care Act (ACA). As a small employer, you need not comply with one of the most notable provisions — shared responsibility, commonly referred to as “play or pay” —…