RogerRossmeisl

AUGUST 9, 2021

Fraud is costly for all victimized companies, but it’s even worse in the construction sector. Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud. These can lead to legal liability and fines.

Construction 237

Construction payroll tax payroll Legal 237

MyIRSRelief

MAY 1, 2024

They stay current on the latest regulations, ensuring your business maximizes legal tax breaks on forms like 1120, 1120S, and 1065, while minimizing liabilities. Compliance Navigation: Tax compliance goes far beyond just filing. Year-round support and assistance with any tax-related questions or concerns that may arise.

Tax 130

Tax tax planning audit Non-Profits 130

Cherry Bekaert

FEBRUARY 7, 2024

Unlike a C corporation, which taxes shareholders separately from the entity, both LLCs and S corps are generally subject to only one layer of taxation at the owner level, which could provide significant tax savings over the course of a business’s life. S corp shareholders’ shares of income are not subject to self-employment taxes.

Real Estate 103

Real Estate Tax income tax Legal 103

CPA Practice

JULY 12, 2023

Typically, states also have a special SUI rate for construction companies. Finally, SUI tax rates tend to change from calendar year to calendar year and can rise or fall depending on the economy and the state’s unemployment fund status. Some states require employers to pay additional payroll taxes.

income tax 98

income tax Tax South Dakota Alaska 98

Xero

MARCH 16, 2023

If your business is in the construction industry, you may also need to ensure you’ve reviewed and reconciled your Construction Industry Scheme (CIS) Suffered report for the tax year, so you’re prepared to enter an accurate value for the last submission of the tax year. You’ll have until 19 April 2023 to make any changes.

payroll 81

payroll Tax corporation tax Construction 81

Cherry Bekaert

JUNE 13, 2023

The choice of entity is a very important decision, as proper entity selection will ideally provide legal protection, highlight opportunity to save tax dollars and maximize flexibility in operations. A single member LLC has the same tax impact as a sole proprietorship. It does provide legal limited liability protection.

Real Estate 59

Real Estate income tax tax return Legal 59

xendoo

JANUARY 30, 2023

Startups that have less than $5 million in annual gross receipts could apply up to $250,000 of the credit to offset payroll taxes. Since the IRS calculates the tax credit amount based on the amount a company spends on R&D, most early-stage startups don’t qualify for the full amount.

business tax 52

business tax Tax tax return income tax 52