Budgeting Success for the Construction Industry
When a construction business doesn’t have a clear idea of its annual budget, it runs the risk of spending more money than it earns that year. You may have been …
How To Create a Business Succession Plan
There is an unbelievable number of companies across a wide array of industries, which may lead you to believe that the creation of a succession plan must be a unique …
Common Tax Deductions for Construction Workers
Regardless of your trade in the construction industry, allowable tax deductions can lower your tax liability and possibly lead to getting a tax refund. You can deduct common expenses such …
4 Tax Mistakes Construction Contractors Make
Whether purchasing a new piece of equipment to replace an outdated one or hiring extra help to handle a new project, owners and managers of contracting firms tend to focus on …
Denver Bronco’s Payoff Isn’t Deductible
Ordinarily, deductible business expenses include payments to settle disputes. But the IRS is clear that it will allow the deduction only if the argument arose from a business-related activity. When it comes to …
IRS Publishes 2022-2023 Special Per Diem Rates
According to Notice 2022-44 from the IRS, various regulations outline the rules for using a per diem rate to substantiate the amount of ordinary and necessary business expenses paid or incurred …