The Inflation Reduction Act modified or introduced several energy efficient tax incentives, like the newly created Section 48(e) renewable energy investment tax credit. The base amount can be increased by several optional bonus credits.
US citizens and tax residents who have formed — or are considering forming — a corporation in a foreign country may be impacted by global intangible low-taxed income (GILTI). The tax implications and considerations are complex. Understanding GILTI is important for making informed decisions for yourself and your business structure.
The rules for deducting meal and entertainment expenses are different in 2023. Browse an overview of common deductible expenses in this article.
Most conversations around lease accounting changes have been about GAAP compliance, so less is known about the tax impact of ASC 842. There are many considerations, and extra calculations may be needed to reconcile the tax and book impact of leases.
Real estate owners and operators are facing many recurring challenges in 2023, like labor shortages and supply chain disruptions, while they also grapple with new issues like ESG reporting requirements, energy resiliency, and more.
Some of the top issues facing construction contractors in 2023 are the economy, supply chain, higher costs, and labor. Opportunities include hiring women and minorities, sustainable building, construction technology, and more.
Real estate developers can now use a more streamlined approach to capture estimated common improvement costs using the alternative cost accounting method as outlined in new IRS guidance released in January 2023.
Construction bankruptcy filings are trending up due to volatility in the supply chain, labor market, and economy. Guaranteed payment, one of the factors affecting contractor cash flow, is now protected in Virginia as it is in North Carolina.
179D, a popular energy efficiency tax incentive, has been expanded and upgraded in 2022’s Inflation Reduction Act. From new deduction amounts to prevailing wage requirements, learn about changes to 179D.
In our 2023 construction industry outlook, we explore what's ahead for middle market business leaders.
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