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Whether purchasing a new piece of equipment to replace an outdated one or hiring extra help to handle a new project, owners and managers of contracting firms tend to focus on …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 …
Should You Hire an Outsourced CFO?
When the financials of your company start expanding beyond basic accounting, you may find yourself in need of assistance when it comes to planning or analyzing your finances. If that’s …
The Inflation Reduction Act: What Does It Contain?
On August 12, Congress passed the Inflation Reduction Act, over 700 pages of economic changes. What does the act do? And just as important, what does it not do? To start with …