Anders CPA

DECEMBER 18, 2023

As provisions from the Tax Cuts and Jobs Act (TCJA) sunset, a changing tax landscape awaits in 2024. While some provisions are expiring, new regulations and updated rulings introduced by the CARES Act and the Inflation Reduction Act (IRA) will impact entity conversions, deductions and accounting methods for the construction industry.

Construction 59

Construction tax planning Tax cpas 59

TaxConnex

FEBRUARY 8, 2024

Sales tax compliance depends on many factors. One of the most important – and the most incessantly changing – is the tax rates that America’s thousands of jurisdictions impose. Exemptions can also seem whimsical: New York charges different sales tax on a bagel that’s sold as-is or has been toasted and smeared with cream cheese.

Sales 193

Sales Tax South Dakota Kentucky 193

Randal DeHart

MARCH 1, 2024

Many small construction business owners tend to handle their accounting and bookkeeping, especially when they've just started. However, keeping track of the finance side of the business– everything from income to expenses to tax compliance– can be overwhelming.

Construction 90

Construction Account accountant accounted 90

MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

Tax 130

Tax bookkeeping Account accountant 130

Cherry Bekaert

NOVEMBER 6, 2023

Situation Due to its strong reputation in the real estate and construction industry, the Company reached out to Cherry Bekaert for assistance with claiming tax credits. By providing tax incentives and credits, homes can be more affordable for buyers.

Real Estate 75

Real Estate Construction South Carolina Tax 75

Cherry Bekaert

AUGUST 29, 2023

As a result of the major changes in the Section 45L tax credit, there are new qualifications that businesses must meet to benefit from the energy tax opportunities. Contact Us The post How Real Estate and Construction Companies Can Take Advantage of the Expanded Section 45L Tax Credit appeared first on Cherry Bekaert.

Real Estate 86

Real Estate Construction Tax Hospitality 86

MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

Tax 130

Tax tax planning audit Non-Profits 130

Randal DeHart

FEBRUARY 17, 2023

How often have you hired someone with the expectation that they know how construction works, and then you found out they did not know about it? You are a master in the construction industry, so you recognize what to look for in your particular field and quickly observe if someone has the skillsets, and you proceed accordingly.

Construction 86

Construction tax accountant Account accountant 86

Randal DeHart

OCTOBER 27, 2023

Starting a new construction business is exciting but has its fair share of responsibilities. It's not just about keeping things tidy; it's about understanding the financial health of your business and meeting all your tax obligations. From saving receipts to processing employee payroll, every money-related detail should be documented.

Construction 91

Construction Start-ups bookkeeping payroll 91

CPA Practice

MAY 31, 2023

A California man was sentenced in late May to 12 months in prison for willfully failing to account for and pay over employment taxes. According to court documents and statements made in court, Larry Kudsk of Berkeley, California, operated two construction businesses, Kudsk Construction, Inc., Gutierrez, Inc. Gutierrez, Inc.,

Construction 59

Construction California Tax payroll tax 59

Menzies

FEBRUARY 13, 2024

See our Property & Construction Team’s predictions and wish list for the Chancellor’s Spring Budget 2024 below. Help to buy scheme extended or re-imagined As we have seen in the news recently, the number of insolvencies in the construction sector is increasing significantly and the housebuilding sub-sector is the worst hit.

Construction 52

Construction chartered accountant Tax accounting firms 52

VJM Global

MARCH 18, 2024

04/WBAAAR/APPEAL/2023) The Company constructed a warehouse and let it out. The Company sought an advance ruling from WBAAR that whether the company is entitled to claim ITC on inward supplies received for construction of such warehouse. However, where construction expenses are not capitalized in books, the claim of ITC is admissible.

Construction 52

Construction Tax Legal Account 52

Randal DeHart

SEPTEMBER 16, 2022

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses.

Construction 85

Construction payroll Tax Sales 85

Randal DeHart

JUNE 30, 2023

You start your construction business and hire a few employees, and things tick along. Complying with all federal and state labor laws is another essential aspect of a construction payroll system. Payroll is one of those things that starts simply enough. This is a great thing, but it also means that payroll becomes more complicated.

Construction 70

Construction payroll Tax 70

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. its Sales Tax Bulletin No. Here’s a review of some of the recent changes and updates. Indiana modified?its

Sales 180

Sales Tax Oklahoma Illinois 180

TaxConnex

MAY 6, 2021

There’s always something changing in the world of tax, especially sales tax. In the trendiest sales tax news (aside, of course, from Florida finally passing economic nexus legislation), Connecticut lawmakers have proposed a digital advertising services tax similar, experts say, to one recently enacted in Maryland.

Sales 203

Sales North Carolina Tax Maryland 203

Randal DeHart

DECEMBER 16, 2022

Most construction business owners who reach out to us describe this as their "Year End Madness" to prepare their documents for the tax accountant. The end of the year tends to be chaotic for construction company owners, but it's an excellent time to get some extra housekeeping done for your business. The year is almost over.

Construction 77

Construction tax preparation quickbooks tax accountant 77

Steve Feinberg

OCTOBER 14, 2022

Cost overruns in construction projects are exactly what they sound like: You meticulously considered the project, offered a detailed bid, spent time, resources, and capital to complete the work to code and client satisfaction—only to have spent 30% more than you initially planned to when the job is finished.

Construction 89

Construction bookkeeping tax preparation New Hampshire 89

Steve Feinberg

OCTOBER 14, 2022

Cost overruns in construction projects are exactly what they sound like: You meticulously considered the project, offered a detailed bid, spent time, resources, and capital to complete the work to code and client satisfaction—only to have spent 30% more than you initially planned to when the job is finished.

Construction 87

Construction bookkeeping tax preparation New Hampshire 87

Randal DeHart

NOVEMBER 18, 2022

Is it time for your construction business to invest in some new equipment? It is all a question of your budget, income, cash flow, profit & loss, and taxes. It is all a question of your budget, income, cash flow, profit & loss, and taxes. Your construction business is expanding at a fast rate. -

Construction 78

Construction Tax 78

ThomsonReuters

MAY 3, 2023

A tax services director in Washington D.C. says that the Treasury Department’s proposal to clarify the tax treatment of on-demand pay arrangements makes it “clear” that the IRS is concerned with the constructive receipt issue of this trending employee benefit.

Construction 59

Construction tax services Tax payroll 59

Randal DeHart

NOVEMBER 25, 2022

Depending on the nature of your construction business, you may have workers who are employees or contractors, or you may have both. Each has its merits, but it's important to review which are to meet your tax obligations. When you have an employee, you must withhold income tax and report on additional benefits.

Construction 81

Construction payroll tax payroll income tax 81

RogerRossmeisl

NOVEMBER 19, 2023

Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. If so, you should consider a cost segregation study. years for residential rental properties).

Tax 100

Tax Construction CPA business tax 100

TaxConnex

FEBRUARY 7, 2023

Findings from the third annual Sales Tax Market Survey indicate that a perfect storm is brewing for financial leaders in the new year. Companies still struggle to navigate workforce shortages and retention of internal expertise, yet they remain highly dependent on in-house resources to perform many of the vital functions related to sales tax.

Sales 173

Sales Tax audit Construction 173

Cherry Bekaert

FEBRUARY 24, 2023

These requirements aim to create good paying jobs in the clean energy space by offering enhanced tax credits to participating taxpayers. The IRA is critical in providing good paying jobs through offering enhanced tax benefits for a range of clean energy and green energy projects to taxpayers.

Real Estate 75

Real Estate Construction Tax 75

Steve Feinberg

JULY 27, 2022

Running a construction business isn’t like running other goods or services-centered businesses. Here are a few bookkeeping tips from the professionals at AppleTree Business Services for construction companies. Why Is Bookkeeping Important for the Construction Business? Construction Bookkeeping Tips.

bookkeeping 52

bookkeeping Construction accounting and finance payroll 52

TaxConnex

JULY 19, 2022

Sales tax obligations are among them. Only now are federal lawmakers beginning to wonder if the current sales tax landscape overburdens online businesses. In the meantime, your business may have to start collecting and remitting states’ sales tax – with severe penalties if you don’t. What do you need to know? The back story.

South Dakota 217

South Dakota Sales Tax tax consultant 217

TaxConnex

APRIL 13, 2023

Our third annual survey of financial professionals across accounting, manufacturing, construction, software and technology, retail/eCommerce, telecom and others showed that many industries face sales tax challenges and that financial leaders continue to lean on internal resources to get the job done. What’s keeping them up at night?

Sales 130

Sales Tax tax return audit 130

Withum

MARCH 7, 2022

At Withum, we are fortunate to have over fifteen talented women on our Construction, Architecture and Engineering Services Team across the U.S. Our team ranges from Staff Accountants, Managers, to Partners and together help AEC based companies navigate complex business challenges, whether tax, accounting, advisory or technology-driven.

Construction 105

Construction Entertainment tax accountant Start-ups 105

Randal DeHart

DECEMBER 8, 2023

Have you given your bookkeeper, wife, partner), accountant or tax accountant, what information is needed to complete your reports? Accountants need good information to create detailed reports and save money on your taxes. Deadlines are fast approaching, but it doesn't have to be stressful.

bookkeeping 88

bookkeeping Construction tax accountant Tax 88

Randal DeHart

NOVEMBER 11, 2022

Folks accustomed to getting things done quickly and efficiently do not mind paying professionals for servicing, repairing, remodeling, or building new construction projects related to their houses and commercial buildings. Understanding the High-Profit Client Most of them have personality traits commonly known as drivers.

Construction 76

Construction payroll tax payroll bookkeeping 76

TaxConnex

OCTOBER 13, 2020

Companies that perform services often see themselves as tax exempt, and in many cases that is true, but there are certain states andsituations in which that is not the case. Gain a better understanding of your sales and use tax obligations with these frequently asked questions we have received from businesses that provide services.

Sales 187

Sales South Dakota Tax Hawaii 187

CPA Practice

AUGUST 29, 2023

The Treasury Department and the IRS issued detailed—but more flexible—regulations on Tuesday regarding the new prevailing wage and registered apprenticeship requirements, which are linked to companies claiming clean energy tax credits under the Inflation Reduction Act.

Tax 105

Tax Construction Finance 105

TaxConnex

MARCH 11, 2021

Sales tax obligations regarding software and other technology-related solutions can often come down to location and definition. Four states recently took a closer look at how sales tax applies to technology-related solutions, one of the more confusing industries for complying with sales and use tax requirements.

Sales 199

Sales Technology Indiana Tax 199

TaxConnex

AUGUST 3, 2021

There’s always something changing in the world of tax, especially sales tax. States themselves don’t seem to know yet, according to a recent survey co-sponsored by the Tax Policy Center. Online sales dipped in May, yet sales tax revenues seem to remain robust thanks in part to online sales. Minnesota Gov.

Sales 212

Sales Tax Mississippi New Mexico 212

Pooley Accounting Services

DECEMBER 2, 2021

You were up at 6:00 and at the construction site by 7:00. It’s 10:00 pm, and you’re trying to pull together a proposal for a huge construction project that is due tomorrow. Maybe, it’s time to think about accounting professionals or a firm with construction experience to help. construction accounting.

Construction 52

Construction Account accountant accounted 52

CPA Practice

NOVEMBER 27, 2023

Corvee, a maker of tax planning technology for businesses and tax pros, has added Augusta Rule deduction filing guidelines into its Instead and Instead Pro tax planning systems. Instead and Instead Pro offer seamless Augusta Rule savings estimation to help plan, calculate, document and file a return.

tax planning 98

tax planning Tax income tax tax return 98