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Tax Reform Impact on Employers and Employees

Revit OpEd

Repeal of employee deduction and income exclusion for moving expenses: Under current law (Code Section 132(a)(6) and (g)), an employee can exclude qualified moving expense reimbursements from gross income. Certain of these expenses are not deductible unless, in aggregate, they exceed 2% of the employee’s adjusted gross income.

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A Plumbing Contractor’s Guide to Insurance Coverage

Levelset

In this respect, general liability insurance or workers’ compensation could help cover those costs if an incident should occur. . Workers’ compensation insurance should be in place to help defray the costs of employee medical treatments. Licensing & contract requirements. How do I get plumbing insurance?

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Business Interruption Insurance in Construction: What Contractors Need to Know

Levelset

This type of insurance can help ensure that you’re able to continue operations if something happens that causes you to lose income. These include financial losses from reduced income streams or damaged equipment. Like any insurance policy, business interruption insurance is a contract between you and the insurance company.

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The pros and cons of becoming a subcontractor

Fieldwire

You’ll be responsible for paying your own taxes and for keeping track of your income and expenses. This is in contrast to primary contracts, which are usually required to be bonded by law. Rose Morrison is the managing editor of Renovated , where she covers contracting and residential construction topics. Your mileage may vary.

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Carpenter’s Insurance: Who Needs It & Why

Levelset

Surety bonds : Surety bonds pay out to an owner or GC if you are not able to perform your work per the terms of a construction contract. . If approved for the policy, you’ll need to remit a down payment to bind the contract, and then you’ll be covered as of the effective date. . How much does carpenter’s insurance cost?

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#92:  Lost Profits and Waivers of Consequential Damages

NH Construction Law

In the law of contracts, damages suffered by the nonbreaching party may be either “direct” (loss of the benefit of the bargain, measured by the cost of remedying the deficient performance) or “consequential” (other reasonably foreseeable harm caused by the breach). In Mentis Sciences, Inc. 3d 799, 808, 11 N.E.3d

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Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

Such an occurrence could threaten the existence of your contracting business. Workers compensation insurance. It helps your workers replace income if they are injured on the job. Medical expenses, property damage, and legal defense costs can grow quickly. 7 insurance policies subcontractors may need. Cyber insurance.