1.9.26
Can You Claim a Tax Deduction for Tips or Overtime Income?
If you received tips or overtime pay in 2025, you may be eligible for a new deduction when you file your income tax return. Last…
1.8.26
Not All “Business” Expenses Are Tax Deductible
With 2025 in the rear view mirror and the tax filing deadline on the road ahead, it’s a good time for businesses to start gathering…
12.29.25
How Contractors Can Push Back Against High Materials Costs
Rising materials costs have become a persistent challenge for construction companies of all sizes. But they hit small to midsize businesses especially hard. Your profit…
12.29.25
Avoiding Inadvertent S Corp Termination
S corporation structure provides most of the tax benefits of a partnership plus the liability protection of a corporation. But because of the strict requirements…
12.29.25
Contractors: How’s Your Succession Plan Coming Along?
A 2024 survey conducted by consultancy FMI in partnership with the Construction Financial Management Association found that 58% of contractors who responded didn’t have an…
12.18.25
Update for Contractors on the Presentation and Disclosure of Retainage
Earlier this year, the Financial Accounting Standards Board (FASB) issued a staff educational paper to address questions related to applying revenue recognition guidance for the…
12.16.25
Understanding and Monitoring Loan Covenants
Manufacturing is a capital-intensive business that often requires financing to support operations. Financing arrangements for significant loans typically are supported by complex agreements that include…
12.15.25
Significant Changes to Information Reporting Go Into Effect for the 2026 Tax Year
Tips and Overtime Income For 2025 through 2028, the OBBBA creates new deductions for employees who receive qualified tips income or qualified overtime income. Importantly,…
12.15.25
Reverse Sales and Use Tax Audits Can Reveal Refund Opportunities for Manufacturers
While most states offer sales and use tax exemptions for certain purchases by manufacturers, the details can vary from state to state. Manufacturers often overlook…
12.10.25
New Tax-Saving Opportunities May Attract Funding for Manufacturers That Build in Rural Qualified Opportunity Zones
The Qualified Opportunity Zone (QOZ) program, created by the Tax Cuts and Jobs Act, was slated to expire after 2026. The One Big Beautiful Bill…