Accounting methods for construction contractors

July 22, 2021

By Steve Campana, CPA, ABV, CFF® Partner Owning and operating a construction business involves a lot of work between managing job sites, equipment, contracts and other projects. At times, it can be difficult to monitor everything, let alone spend additional time crunching numbers and keeping track of the bookkeeping. However, accurate books are an essential part […]

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Construction business owners are provided an easier path to deducting rental loses by utilizing the real estate professional election

November 25, 2020

Taxpayers with rental activities have incentive to qualify as a real estate professional: if qualifications are met, rental losses that would typically be trapped can be used to offset other business income. However, strict rules exist to qualify and achieving this designation has proved difficult for many. Fortunately, taxpayers in the construction trade may be […]

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