Blog categorized as Tax
Depreciation is a critical aspect of financial management for construction companies, directly impacting profitability, tax liabilities, and overall financial health. Properly managing depreciation of construction assets ensures accurate financial reporting, compliance with accounting standards, and...
When and how to record revenue is the primary obstacle construction companies face when creating reports that accurately reflect the company's performance. Unlike many other industries, construction projects tend to be lengthy, complex, and vast, with a range of phases that may require partial or fu...
As the year draws to a close, business owners should focus on more than just wrapping up their annual goals and planning for the next year. It’s also the perfect time to take proactive steps to reduce your tax liability and maximize your financial efficiency. With the right tax planning strategies, ...
Expanding Options for Marriage, Defense, Medical Marijuana, Amateur Athletes and Rail Workers
Respect for Marriage Act (HR 8404) – Introduced by Sen. Jerry Nadler (D-NY) on July 18, this Act replaces previous provisions that defined marriage as strictly between a man and a woman. It codifies mar...
Navigating the complexities of tax deductions can be challenging for small business owners, particularly those operating as an S Corporation. One common question that arises is whether an S Corp can deduct home office expenses on its tax return. This blog post aims to provide clarity on this topic a...
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