Tax saving & other accounting tips for your construction business.
When Should Construction Company Owners Elect S-Corp Status?
When Should Construction Company Owners Elect S-Corp Status?As a construction business owner, maximizing your profit should always be top of mind. However, taxes can significantly impact how much of your hard-earned money you actually get to keep. Let's take a closer...
What Contractors Need to Know About the FinCEN BOI Reporting Requirement
What Contractors Need to Know About the FinCEN BOI Reporting RequirementThe Financial Crimes Enforcement Network (FinCEN) has recently rolled out a significant regulatory measure known as the Beneficial Ownership Information (BOI) reporting requirement. The purpose of...
Comparing Standard Mileage Deduction vs. Actual Auto Expenses (2024)
Comparing Standard Mileage Deduction vs. Actual Auto Expenses (2024)Vehicle expenses can be a significant cost for small businesses, especially for contractors and other home service companies who travel to their customers’ homes to meet with and/or perform services...
Tax Deductions Every Construction Contractor Should Know to Maximize Profits
Tax Deductions Every Construction Contractor Should Know to Maximize ProfitsMaximize Your Profits: Essential Tax Deductions for Small Construction Business Owners For construction business owners, managing taxes goes beyond just filing paperwork; it’s a smart way to...
How Contractors Use Section 179 Deductions to Save on Equipment and Vehicles
How Contractors Use Section 179 Deductions to Save on Equipment and VehiclesWhen running a construction or remodeling business, it's important to understand tax law as it relates to your operations. One important thing to understand is the benefit of using Section 179...
When Are Estimated Quarterly Tax Payments Due in 2024?
When Are Estimated Quarterly Tax Payments Due in 2024?For owners of construction and remodeling businesses, taxes can be a real headache. Unlike employees who have their taxes taken out of their paychecks automatically, business owners are responsible for taking care...