Qualified Improvement Property – Beware of a Potential Tax Trap
The CARES Act fixed a technical glitch, retroactive to 2018, that deprived many taxpayers of 100% bonus depreciation for qualified improvement property (QIP). As this article explains, however, the law also set a dangerous tax trap for those that elect not to claim bonus depreciation. A sidebar looks at how due dates work for amended tax returns.
Connecting Your Succession Plan to Your Estate Plan
For any business owner, contractors included, putting together a succession plan may seem like an overwhelming task. Often, among the most difficult things to conceptualize is precisely how to connect — and beneficially integrate — your succession plan with your estate plan. This article offers a few ideas: selling ownership shares, gifting them and creating a trust.
Five Tips for Reducing Workers’ Compensation Costs
For most construction businesses, workers’ compensation is a significant expense. This article offers five time-tested tips for reducing or at least better controlling these costs, including classifying employees properly and developing a robust safety program.
Is Blockchain the Future of Construction?
Blockchain is the technology that powers Bitcoin and other cryptocurrencies. Although it may not be ready for prime time in construction just yet, industry experts recognize its promise to transform the way projects are managed. This article explains how blockchain works and how “smart contracts” can keep everyone on the same digital page.
Santora CPA Group 2017. All rights reserved. Santora CPA Group is a Delaware certified public accounting and consulting firm offering a range of professional services to businesses, nonprofits, and individuals. These services include Tax Preparation and Planning; Accounting and Auditing; Bookkeeping and Payroll; HR Consulting and Employee Training; Litigation Support; Forensic Accounting; Business Consulting and Valuations; Fraud Prevention and Detection; and Delaware Administrative Trustee Services. Santora CPA Group is an equal opportunity employer.