By choosing the right allocation methods and applying them consistently, you can gain valuable insights into project costs, boost profitability, and make more informed decisions that will contribute to long-term success in the construction industry.

As real estate prices continue to rise, owners of undeveloped "raw" land are finding property development an increasingly attractive opportunity. However, those involved in development may face significantly different tax implications and investment returns depending on whether they are classified as investors who pay capital gains taxes, or dealers who are taxed at higher ordinary income rates.

While Section 179D offers significant benefits, navigating its complexities requires expertise. It’s vital to consult with a qualified tax advisor who specializes in the construction industry to maximize the benefits of 179D and avoid potential pitfalls.

There are several important tax deadlines for businesses and individuals just around the corner. Keep in mind that this list is not all-inclusive, so there may be additional deadlines that apply to you.

Making yourself aware of some of the common scams and using good judgement can help keep your money – and personal information – safe from criminals.

The Corporate Transparency Act BOI filing requirements have been reinstated by the Fifth Circuit Court of Appeals. FinCEN has extended the deadline for most entities until January 13, 2025, with a few exceptions for entities that were formed recently.