Best Practices Construction Law

MARCH 18, 2020

No special filing with the IRS is required for this payment extension. Individuals and businesses with 2019 income tax liabilities in excess of these amounts are presumably subject to late-payment and potentially other penalties for tax balances that may exceed these amounts. The announced payment extensions are limited, however.

IRS 62

IRS Income South Carolina Tennessee 62

Construction Business Owner

MAY 22, 2013

There has been a long-running battle over the tax treatment of losses incurred by limited liability companies (LLCs) and limited liability partnerships (LLPs). Recently, the IRS lost a key battle in its fight to limit tax deductions that can be taken by investors in small businesses. The recent Tax Court decision, Garnett v.

IRS 120

IRS Liability 120

Contractor Bookkeeping

OCTOBER 17, 2014

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. If it’s an email, forward it to the IRS at phishing@irs.gov.

IRS 48

IRS Claims Contractors Accounting 48

Contractor Magazine

AUGUST 17, 2017

Computer programs suggest various tax strategies to reduce (but not eliminate) a large estate tax liability.

IRS 40

IRS Liability Software Software 40

Contractor Bookkeeping

SEPTEMBER 25, 2013

Did you send your liability insurance payment in late? IRS Taxes : When you entered into the contract, was this person responsible for filing a tax return with the IRS for his or her business? Anytime a contractor’s license is suspended the state may be classify that person as an employee on your jobs.

Contractors 49

Contractors Cash Flow Washington Compensation 49

Contractor Bookkeeping

JULY 30, 2014

This becomes a problem as tax liability is shared between partners. They work very hard to keep on top of the latest changes to the IRS Tax Code. They work very hard to keep on top of the latest changes to the IRS Tax Code. The IRS Tax Code is similar to the OSHA Book – Thick and has Tiny Print.

Accounting 49

Accounting Housing Construction Contractors 49

Contractor Bookkeeping

JULY 24, 2014

Not only that, but a subsequent IRS audit may result in additional tax liabilities as well as open up other years for examination since the IRS now has the ability to request a copy of your QuickBooks file. In most cases, those results adversely affected the construction company''s tax returns.

Accounting 48

Accounting Construction Contractors Profitability 48