It’s no secret that the construction industry has been struggling with a skilled labor shortage for years now. More recent events, such as the pandemic and “the Great Resignation,” have only exacerbated matters. The situation… Read More »Construction businesses must step carefully when hiring on-site labor

Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these benefits. Here are examples of… Read More »Providing fringe benefits to employees with no tax strings attached

If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free interest on the federal (and possibly state) level, there may be… Read More »Tax and other financial consequences of tax-free bonds

You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses. First, what is “local transportation?” It refers to travel in… Read More »What local transportation costs can your business deduct?

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named for the Internal Revenue Code… Read More »Investing in the future with a 529 education plan

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report , but that’s little consolation if your return is among those selected to be examined. Plus, the IRS recently received… Read More »Worried about an IRS audit? Prepare in advance

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first planning steps is to ascertain whether… Read More »Year-end tax planning ideas for individuals

Construction business owners know that cash is king. However, managing cash flow in an industry known for its ebbs and flows isn’t easy. And when you throw in the steady rise of inflation and ongoing… Read More »9 cash-flow management tips for construction companies

In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and should be aware that the WOTC is available to employers that hire workers… Read More »Work Opportunity Tax Credit provides help to employers

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate… Read More »Don’t forget income taxes when planning your estate