xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?

business tax

Withum

SEPTEMBER 2, 2022

The federal tax incentive for qualified energy property was extended through the IRA for most projects that begin construction before January 1, 2025 (2035 for geothermal energy used for healing and cooling a structure). For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax

Withum

SEPTEMBER 2, 2022

The basis still includes not only the purchase price of the property but also any costs for acquisition or construction. In addition, qualified apprentices must be utilized for a certain number of labor hours when constructing the alternative fuel vehicle refueling property. The basis must be reduced by any amount expensed under §179.

Construction

Withum

SEPTEMBER 6, 2022

Under the IRA, the square footage deduction could be as high as $5 per square foot encouraging the construction of energy efficient commercial buildings. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. The deduction for the 2022 taxable year was $1.88 Contact Us.

Construction

Withum

JUNE 24, 2022

Did the taxpayer include the correct qualifying wages for small eligible employers (all wages paid during the relevant period) and for large eligible employers (only wages paid not to provide services during the relevant period)? Business Tax Services. Contact Us. Contact Us. appeared first on Withum.

Tax

CPA Practice

SEPTEMBER 17, 2024

James joined the firm in 2022 and has demonstrated exceptional expertise in accounting, auditing, compliance, financial statement preparation, tax return preparation, and special projects. His focus on the construction and nonprofit sectors has been particularly beneficial to our clients.

Construction

Steve Feinberg

JANUARY 30, 2023

HVAC accounting is more similar to bookkeeping for construction companies, in that each job undertaken needs to earn more than it takes to complete. But any HVAC technician, independent contractor, or construction firm owner knows that’s easier said than done. See related: Small business tax services.

bookkeeping

Withum

JANUARY 25, 2023

Alternatively, if the small business exemption is unavailable, the real property trade or business exception should be evaluated. It should be noted that the election into the real property trade or business exception is an irrevocable election. Let’s Chat The post Congress Fails To Pass Key Tax Extenders, Now What?

Tax

Steve Feinberg

SEPTEMBER 7, 2023

Let’s look at some of the best tips and advice for bookkeeping for home service contractors. Importance of Bookkeeping for Home Service Contractors Bookkeeping for small construction businesses and home service contractors is crucial for many reasons.

bookkeeping

Withum

SEPTEMBER 23, 2022

The basis still includes not only the purchase price of the property but also any costs for acquisition or construction. In addition, qualified apprentices must be utilized when constructing the alternative fuel vehicle refueling property. For construction that beings before January 1, 2024, apprenticeship hours must equal 12.5%

Construction

Withum

MAY 13, 2025

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post House Presents Tax Reform Bill Including Multiple Business Provisions appeared first on Withum.

Tax

Withum

MAY 13, 2025

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post House Presents Tax Bill Including Multiple Business Provisions appeared first on Withum.

Tax