Construction
Businesses also benefit from new law
Most of the press coverage of the American Recovery and Reinvestment Act - officially named the American Recovery and Investment Act - focused on individual taxpayers. But, several key provisions of the new law bestow tax benefits on businesses, particularly smaller businesses. Businesses purchasing equipment, vehicles and other business assets may claim an almost immediate tax write-off for the cost. If you need to purchase additional assets of almost any type for your construction business, there is no better time than now. (6/22/2009)
'Shovel ready' companies stand to do well in 2009
Much of the federal government’s effort to stimulate economic recovery is cast in a sense of urgency. While the government is committing billions of dollars to projects designed to increase employment, restart the banking system, create a new energy policy and reform the healthcare system, all of these plans are being pursued with a need to get something started now and work out the details later. It is clear that many of these efforts will involve construction projects. There should be numerous opportunities for those in the construction industry who have the know-how, the financing and the skilled workers ready to capitalize on the opportunities that will present themselves over the coming months. (6/8/2009)
Report details common real estate crimes
Financial crimes tend to follow happenings in the real estate industry, according to the Financial Crimes enforcement network (FinCEN). FinCEN is a U.S. Department of Treasury agency that works to enhance U.S. national security, deter and detect criminal activity and safeguard financial systems from abuse. One in four suspicious activity reports filed concern actions from the real estate industry – from rehabbers to builders to contractors. (5/25/2009)
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The technical information here is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.