New Research and Development Capitalization Requirement Shuffles System
The R&E capitalization requirement under IRC Section 174 has surprised some taxpayers and resulted in a significant increase in their taxable income for 2022. This blog post explains the new requirements and provides tips for minimizing tax liabilities.
Important Tax Savings News for the Construction Industry: Meals Portion of Per Diem Rate or Allowance Now 100% Deductible for 2021 and 2022
Learn more about IRS notice 2021-63 providing construction tax savings regarding meals portion of per diem rate or allowance now 100% deductible for 2021.
179D Energy Efficient Commercial Building Deduction Made Permanent
Learn more about the passing of the Consolidated Appropriations Act and the provision of which makes the Energy Efficient Commercial Building Deduction (179D) permanent
Choosing The Wrong Accounting Method for Home Construction Contracts is a Costly Mistake
Often you learn the most from your mistakes. If a contractor chooses the wrong accounting method, during the first two years of operations, the contractor
Energy Efficient Commercial Building Deduction Extended Through 2020
On December 20, 2019, President Trump signed a $1.4 trillion spending bill that funds the government through fiscal year 2020. The bill also extends the
Good News Regarding Excess Business Losses For Your Pass-Through Construction Business
If you own a construction business, you know all too well that one or more bad contracts can make or break the financial results for the year. If you were
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