At least one-third of new construction projects in the residential market are green-related, according to a recent study by McGraw-Hill Construction. This now-clear green trend provides telling data for contractors still suffering with uncertainty in the new home construction market. The trend is also apparent in commercial and governmental arenas as corporations, universities and municipalities […]
Archive for the ‘Construction News’ Category
Real estate investors and builders as well as financial statement preparers need to be well-informed and prepared for the impact International Financial Reporting Standards (IFRS) will have on financial statements. The Securities and Exchange Commission has developed a proposed roadmap to help U.S. companies make the transition to IFRS. Since the release of the proposed […]
Health insurance deduction reduces self-employment tax – Self-employed taxpayers who pay their own health insurance costs can now reduce their net earnings from self-employment by these costs for purposes of computing their self-employment tax. Previously, the self-employed health insurance deduction was allowed only for income tax purposes. Small business health care tax credit – This […]
Informed employees are more agreeable Construction projects require a lot of people to be in sync about a lot of issues. They require teamwork, communication and coordination. While you may work with lumber, steel, bricks and mortar, the most critical ingredient in your construction process is people. Getting people to understand what needs to be […]
Most contractors across the United States would agree that the economy has provided both opportunity – and pain – over the past few years. If keeping your doors open in this rocky economic climate was as easy as installing them, most contractors would still be in business today.
Suppose you knew you owed some tax. And suppose the IRS agreed that you owed the tax. Now suppose you paid the tax but the IRS returned the check and told you to keep the money. Would you: Faint? Pinch yourself? Look for a hidden camera? All of the above? That is essentially what the […]
As top lines shrink and gross profit margins decline, contractors find themselves challenged not just to make money but simply to survive. Major uncertainties have almost everyone holding on to cash and reluctant to grow. So how do you stay afloat? Here are some ideas.
Many contractors regularly lay off construction workers during the winter, only to rehire – often the very same workers – when construction work picks up in the spring. Some of these new hires should qualify for a new tax credit, available only for 2010. Since the credit is available for employees hired earlier in the […]
A recent Tax Court case denied the exclusion of gain on the sale of a principal residence to a married couple because they had never lived in the home before selling it. In 1996, David and Christine Gates hired an architect to help them remodel and enlarge their home, a home that David had purchased […]