With federal and state income tax rates being stable over the next few years, many contractors would benefit from accelerating deductions and deferring income when possible. There are many tax planning strategies a construction contractor can implement to reduce the company’s tax liability. Now is a good time to review your company’s financial goals, operations and results over the past year.
To help with this process, Kreischer Miller has teamed up with Construction Industry CPAs and Consultants (CICPAC), an association of accounting professionals serving the construction industry, to put together this helpful tax planning guide for contractors. Discuss tax law changes and how to qualify for tax deductions or credits with a Kreischer Miller team member.