If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for the “wash sale” rule. The loss could be disallowed Under thisRead More »Selling stock by year-end? Watch out for the wash sale rule

Construction company owners are great at completing projects, but many struggle to properly build a succession plan. Even if your retirement is decades away, it’s never too early to start. In fact, by initiating theRead More »Succession planning considerations for construction business owners

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBIRead More »Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72.Read More »Answers to your questions about taking withdrawals from IRAs

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business as a C corporation. A CRead More »Choosing a business entity? Here are the pros and cons of a C corporation

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual lossesRead More »Strategies for investors to cut taxes as year-end approaches

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangibleRead More »Intangible assets: How must the costs incurred be capitalized?

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic taxRead More »Year-end giving to charity or loved ones

By now, many construction businesses have at least outlined the parameters of their 2023 budgets, if not finished them entirely. No matter where you’re at in the process, it doesn’t hurt to double-check your methodologyRead More »Is your construction company’s 2023 budget built on a solid foundation?

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If you’ve decided to close yourRead More »Is your business closing? Here are your final tax responsibilities

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn isRead More »How savings bonds are taxed

Most experts would agree that the best way to minimize fraud at any company, including a construction business, is to take a holistic approach. As the owner, you must set the tone at the topRead More »Prevent fraud at your construction company with a holistic approach