IRS OKs Alternative Fuel Tax Credit for 2015

Construction Equipment

If your fleet includes propane-powered forklifts or other propane autogas fueled vehicles, the new IRS directive may help cut your taxes. IRS has released guidance on how to claim the federal alternative fuel tax credit, which was retroactively extended on Dec.

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Weekly Product Gallery: Greenlee, Uponor, Goulds, Little Giant, Viega and Seek Thermal

Constructor Magazine

Cordless Tools IR Cameras Media Galleries Plumbing RadiantThis week the gallery includes a cordless inline pressing tool, a thermostat designed for radiant heating applications, an advanced pump controller, a condensate removal pump, new tees for use with a popular pressing system and more.

Scam Artists Are Calling Contractors Claiming To Be From The IRS

Contractor Bookkeeping

Scammers are calling all kinds of people and business owners claiming to be from the IRS. Contractors Are Prime Targets For IRS Scams. Here Is How It Works: Step #01 - They rig a caller ID to make it appear as if the IRS is calling your contracting company.

The Destiny USA Debacle: May It Please the IRS : Green Building.

Green Building Law Update

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IRS Simplifies Rules for Deducting Year-end Bonus Accruals

Construction Accounting Blog

However, in recent years, the IRS has taken the position that if a bonus accrual is not payable if the employee is not employed on the date the bonus is paid, then the total bonus accrual (not just the former employee’s bonus amount) is not deductible when accrued. To overcome this IRS position, companies were required to adopt a policy that bonuses would be paid even if the employee was terminated or quit before the payment date, a policy that goes against many businesses’ values.

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Appeals Court Upholds IRS Rejection of Consultant Bid For $1.7M R&D Tax Credit

ENR Construction

Ruling affirms lower court decision that now may clarify who has risk, researcher or client, in cost plus contracts. Business Management

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The Destiny USA Debacle: Why the IRS is the Key Player : Green.

Green Building Law Update

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IRS to Increase Examinations of Tax Returns with Rental Property.

Recon Blog

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IRS To Audit Destiny USA's Green Bonds : Green Building Law Update

Green Building Law Update

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How to create tax-free wealth while beating up the IRS — legally

Constructor Magazine

This article is about a new and unique concept called the Comprehensive Tax Plan (CTP for short.). read more. Blackman Taxes Registered User

Update: Cat Whistleblower Could Make $600 Million

Construction Equipment

That morning, agents from the IRS, Department of Commerce, and Federal Deposit Insurance Corp. March 2, 2017 was not a good day in Peoria. turned up at Caterpillar's door with search warrants in hand. Seems they had some questions about back taxes to the tune of $2 billion

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Don’t Wait for an IRS Letter

Construction Business Owner

Do your business practices expose your construction company to potential IRS penalties? The implications of how you report revenue or account for your labor force can vary from year to year and change when certain financial milestones are achieved.

What You Have to Measure, Track and Record Under ACA

Construction Business Owner

An Applicable Large Employer (ALE) must report to the IRS in monthly snapshots for the calendar year: 1) Those "full-time" employees (at least 30 hours of service per week), and 2) Whether they were offered healthcare coverage.

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Caterpillar Faces IRS Challenge

Construction Equipment

After last month’s Senate investigative hearing on Caterpillar’s overseas tax practices, the Internal Revenue Service has challenged the company’s tax returns from 2007, 2008 and 2009, according to a Bloomberg report

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Caterpillar Rolls Out New Iron at CONEXPO as Feds Raid HQ Over Tax Issues

ENR Construction

Caterpillar is focusing its CONEXPO presentation on demonstrating a remotely operated dozer and its expanded telematics reporting, but is also dealing with the fallout from a raid by IRS and Commerce Dept.

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Tax auditor is your friend

Constructor Magazine

“Surprise – I’m from the IRS and I’m taking you to jail,” he says as handcuffs jingle from his belt. read more. Fey Registered User

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6 Tax Reporting Issues to Watch

Construction Business Owner

Do your business practices expose your construction company to potential IRS penalties? The implications of how you report revenue or account for your labor force can vary from year to year and change when certain financial milestones are achieved.

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The Tax Treatment of Employer and Employee-Owned Cell Phones Used for Business

Construction Accounting Blog

On September 14, 2011, the Internal Revenue Service (IRS) issued guidance designed to clarify the tax treatment of employer-provided cell phones. To clarify the tax treatment of cell phones, the IRS issued Notice 2011-72, which provides guidance on the tax treatment of cellular telephones or similar telecommunications equipment that employers provide to their employees primarily for non-compensatory business purposes. .

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How to keep retirement plan dollars away from IRS

Constructor Magazine

For most Americans, retirement planning revolves around qualified plans (for example, IRA, 401(k), a profit-sharing plan and the like). read more. Blackman Taxes Registered User

How to Meet ACA Reporting Requirements

Construction Business Owner

At the beginning of each year, employers must complete, furnish to their employees and file with the IRS forms in the 1094 and 1095 series

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Contractors Struggle To Save Paperwork Needed For Taxes

Contractor Bookkeeping

Corporate Income Tax Returns are due to the IRS by September 15th for S-Corp and LLC’s filing as an S-Corp. Personal Income Tax Returns are due to the IRS by October 15th which falls on the weekend and extended to Monday, October 16th. Tax Time! Other types of corporations may be in a fiscal year with varied due dates. The only exception is any emergency extensions granted due to hurricanes (Harvey) or others.

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How to transfer your wealth to your family tax-free

Constructor Magazine

Like it or not, you have a partner: the IRS. If you are typical, you accumulated your wealth little by little. It should belong to you and your family. Right? But it doesn’t. read more. Blackman Silver

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Collaborative Workshops a Bargain!

Collaborative Construction

I feel a lot better about the prices Collaborative Construction charges for services after seeing what the IRS pays for speakers at its conventions! The IRS hired 15 speakers to present at the conference in Anaheim, Calif.,

Worker Classification Woes

Construction Business Owner

Commissioner, the Tax Court explains that businesses relying on the independent contractor designation—namely, construction companies—are going to receive additional scrutiny from the IRS. In the recent Tax Court memo Kurek v.

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Top 6 Reasons to Become a Certified Construction Marketing Professional (CCMP)

Construction Marketing Blog

Please read through the IRS Rules on Education and Certification or contact a trusted tax advisor. No matter what industry you lead, who you work with, what you do, having a certification is a valuable offering that can boost your career to the next level.

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Destiny USA Reaches the Green Bonds Finish Line

Green Building Law Update

As reported by Rick Moriarty, the Internal Revenue Service (IRS) notified the Syracuse Industrial Development Agency on March 17 (2011) that it would be auditing the Green Bonds issued by the Agency to the Destiny USA developer. The IRS ruling fascinates me.

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You too can enrich your family, instead of the IRS

Constructor Magazine

In a way the strategies are secrets, because few professionals know they exist, and if they do, have no idea how to implement them. read more. Blackman Registered User

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The Tone - King George II & President Obama

Collaborative Construction

The ears of King Obama''s minions in the IRS, the EPA, ATF and every other agency perked up and they attacked conservatives and the GOP with glee. In June, the IRS informed Mr. VanderSloot and his wife of an audit of two years of their taxes.

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New Legislation Could Change How Contractors File and Pay Taxes

Construction Law Monitor

The actual profits it receives may be more or less than this estimate, whereupon the contractor has to alert the IRS of the difference and either get a credit or pay the difference. 1993 IRS New Orleans City Business TaxLast week, The American Job Builders Tax Reform Act of 2011 was introduced in the house as a bi-partisan bill (sponsored by Reps. Wally Herger (R-Calif.), David McKinley (R-W.Va.) and Shelley Berkley (D-Nev.)) to update how contractors are taxed.

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What You Need to Know about the Section 179 Tax Deduction

Construction Business Owner

Trying to navigate the Byzantine labyrinth of IRS rules and regulations can be an overwhelming process, even for tax professionals.

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IRS Aid to Help Victims of Chinese Drywall

Construction Law Monitor

Just last week the Internal Revenue Service (IRS) announced a plan to help homeowners who have corrosive Chinese Drywall in their home with tax breaks on items that have been destroyed as a result of the Drywall. IRS website gives a good break down on the relief effort affecting repairs for drywall losses from drywall installed between 2001-2009.

Is there cash hidden in your building? A cost segregation study can help you find it

Wolgast Corporation Blog

Generally, this requires you to file Form 3115 – Application for Change in Accounting Method – with the IRS. If the company were to allocate the entire purchase price to the building, its depreciation deductions would be roughly $256,000 per year ($177,000 in year 1, under IRS tables).

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PPG earns DOE funding to develop dynamically responsive IR window coating Technology aims to maintain daylighting, control solar heat gain

BD+C

Department of Energy (DOE) to develop a dynamically responsive infrared (IR) window coating that will block heat in the summer to reduce air-conditioning costs and transmit solar heat in the winter to reduce heating costs. PPG Industries’ flat glass business has received $312,000 from the U.S.

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Unique Ways Highly Profitable Contractors Reduce Taxes

Contractor Bookkeeping

Next review your Estimated personal Taxes paid to the IRS. Contractors Reflect On This Year's Results As The Last Quarter Begins. Going into the last Quarter of the year. Time for some basic reflection about taxes. Officers in S-Corps tend to take payroll later in the year. Now is the time if you have not already been taking payroll. Don't wait until it is time to prepare your Construction Company tax return. How much did you pay in taxes for the current year?

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IRS Offers Relief for Homeowners Affected by Corrosive Drywall.

Recon Blog

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IRS Proposal Would Require Businesses to Report Uncertain Tax.

Recon Blog

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IRS Finalizes Regulations on Section 108 Reduction of Tax.

Recon Blog