Articles
2022
2021
Today’s AC & Refrigeration News | SFACA Monthly Zoom Meeting 2021 Tax update for Contractors
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2020
2019
Revenue Recognition and the Commercial Contractor
Presented: November 14, 2019 in Orlando For Construction Financial Management Association (CFMA)
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Florida Construction News | Percentage-of-Completion Method is gone: Impact of new rules start in 2019
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CFMA Building Profits | The New Small Contractor Threshold: Transition Requirements for Tax Purposes
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CFMA Building Profits | Meals & Entertainment Deductibility: New Requirements & Opportunities
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2018
2017
Joint Ventures: Tax Considerations
Contractors use joint ventures for a variety of reasons, including: Bidding on work they otherwise could not complete (spreading risk), or jobs requiring minority or other special business enterprises; Securing bonding or financing to obtain and perform work…
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CFMA Building Profits | Converting from a C to an S Corporation? Beware the Built-in Gains Tax
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The Various Buckets of Depreciation: A Review of Current Rules & Changes
Tax depreciation rules can be complex, but developing a better understanding of them can yield significant tax savings for contractors. This article provides an overview of current depreciation rules as well as recent changes that both increase options to accelerate depreciation deductions...
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2016
DPAD Regulations Revisited: What Contractors Need to Know
As part of the American Jobs Creation Act of 2004, Congress passed the Domestic Production Activities Deduction (DPAD) permitting specific industries, including contractors, architects, and engineers, to deduct up to 9% of the net income of their operations. The deduction...
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Handling Claims & Disputes Under the PCM
Despite efforts to ensure communication is clear and contracts are effectively worded, contractors often face the possibility of disputes and claims. As a result, CFMs must be familiar with proper accounting for these issues...
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Tax Implications of Debit Shareholder Loans
Why would a shareholder of a closely held construction company owe the company money and have it show as a debit loan/receivable on the company books? Let’s consider some possible explanations...
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Temporary Assignments & Per Diem Reimbursements
When an employee is sent to temporarily work at a location away from the home office, the contractor must pay for various travel, lodging, and incidental costs. In this type of situation, a contractor must determine what amounts are deductible to the company and what amounts...
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Understanding Cost Segregation Studies & Potential Tax Benefits
Most CFMs know about depreciation and the specialized rules that should be scrutinized to ensure all potential tax deductions are considered. A cost segregation study can help CFMs and property owners accelerate depreciation deductions...
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Construction Tax Accounting Methods & Choices: An Overview
Accounting for income from construction contracts is not always easy or straightforward. Some methods can accelerate income, while others allow a contractor to legally defer income. As we review the options, consider three overriding issues...
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2015
CFMA Building Profits | 2015 Tax Planning & Potential Liabilities in the Face of Congressional Inaction
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2013
CFMA | Subcontractor Prequalification
Owners, GC’s, and construction managers stake their companies’ reputations and success on the quality of their workmanship and ability to complete jobs on tome and within budget. Success or failure rests squarely with the management ...
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2011
CFMA Building Profits | DPAD Regulations Finalized
In May 2006, the IRS issued final regulations under IRC 199, Domestic Production Activities Deduction (DPAD). As a result of comments submitted by CFMA, as well as other industry stakeholders, the final regulations reveal significant...
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2008
Business and Tax Strategies | Major Victory for ABC IRS Reverses Position Affecting Contractors
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2007
Construction Executive | Congress Needs to Increase Threshold for Completed Contract Method
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CFMA Building Profits | Home Construction Contracts and the CCM: A Mandatory Audit Issue?
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Business and Tax Strategies | Let’s Keep as Much Money as Possible in the Business this Year
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2006
Business and Tax Strategies | New Tax Deduction Specifically Available for Contractors, Engineers, and Architects
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