This One Thing Can Boost Construction Business Profits

Although it’s tempting to stick with the same trusted bookkeeper you know and love, the complexity of construction bidding and cash flow could prevent you from boosting the construction business profits you deserve. As your company grows, this one thing is worth the investment. Hire a CPA. Keep your loyal bookkeeper (especially if it’s a …

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Qualified Business Income Deduction – Section 199A

The Tax Cuts and Jobs Act (TCJA) adds a new deduction for noncorporate taxpayers for qualified business income. The deduction reduces taxable income, rather than adjusted gross income, and is available to taxpayers who qualify, even if they take the standard deduction. The deduction is 20% of the taxpayer’s qualified business income (QBI) from a partnership, …

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Business Strategy — Diversify or Specialize Services?

By Sean Kelly, CPA I learned about a company recently that has proactively developed a niche to physically lift homes to meet current hurricane-proof standards. Based on a federal grant for homeowners, the construction company is tapping a need that has meant growth for its business as well as a benefit to residential customers. This …

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