The CARES Act includes several provisions that can help boost cash flow for construction companies (and other businesses) as well as reduce their tax bills.
CARES Act Provisions May Boost Cash Flow for Construction Companies
Tag: construction
The Benefits and Risks of Qualified Opportunity Zones
True to their name, recently created qualified opportunity zones (QOZs) may raise attractive opportunities for contractors.
The CARES Act and Construction: Keeping an Eye on Taxes
Let’s look at three issues that contractors should keep an eye on in light of the CARES Act: payroll, losses and qualified improvement property.
Are There Embedded Leases Hiding in Your Contracts?
GAAP-compliant construction businesses with a calendar year end now have until 2021 to implement Accounting Standards Codification (ASC) Topic 842, Leases.
Understanding the Basics of the Job Schedule: Work in Progress
If your company needs to submit financial statements for bonding, you typically are required to submit a job schedule, which includes a list of all jobs open at the end of the reporting period, along with a list of jobs closed during the period.
Big Changes for Pass-Through Entities
One of the most talked-about and Jobs Act is the 20 percent deduction on pass-through income from sole proprietorships, partnerships, S corporations, and LLCs. Because so many construction-related businesses are organized as pass-through entities, many contractors have greeted this provision with understandable enthusiasm.