TaxConnex
FEBRUARY 13, 2025
should know that sales tax obligations for these sovereign nations and territories resemble those obligations in other areas of the U.S. Areas such as the Navajo Nation have tribal sovereignty; for tax purposes, this means their sales tax laws are separate from the states within which they reside.
Randal DeHart
JULY 25, 2025
How Smart Money Management Keeps Your Business Profitable and Stress-Free When most small construction business owners think about success, they envision a steady stream of jobs, high-quality work, and satisfied clients. But there’s another side to the story that often gets ignored: the financial health of your business.
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CPA Practice
NOVEMBER 19, 2024
In the past, taxpayers have often relied on the “Cohan rule” from an age-old case to bail them out of a tax jam. When taxpayers who don’t possess sufficient records are pushed to the brink, they may pull this tax-saver out of their back pocket. He hired a construction firm to do most of the work. Cohan, 39 F2d 540, CA-2, 1930).
TaxConnex
JANUARY 23, 2025
A new construction project, a renovation or expansion of a property, ongoing management of a property: All these and more can come with a ton of sales tax nuances. Particularly for those construction companies with projects beyond the borders of their home state, where they may have done well with sales tax compliance for many years.
CPA Practice
OCTOBER 17, 2024
TurboTax, the most widely-used do-it-yourself tax preparation in the U.S., is out with a new advertisement in which it is telling Americans that maybe they should save money and have a “tax break up” with their professional preparer by using one of TurboTax’s live experts.
Withum
DECEMBER 4, 2024
The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Please work with your tax advisor for future planning.
Randal DeHart
MAY 16, 2025
Implementing an effective payroll system is crucial for construction business owners, as it directly impacts project management, employee satisfaction, and overall financial health. Identify the types of workers (e.g., subcontractors, full-time employees) and ensure your payroll system can handle various pay rates and classifications.
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