Energize your tax planning with the Section 179D deduction

In 2005, Congress passed the Energy Policy Act. The law created a tax incentive tied to the design or installation of energy-efficient interior lighting, HVAC, hot water or building envelope systems in commercial buildings.

Gross-up provisions: Good news for both landlords and tenants

In an uncertain economy, commercial landlords understandably look for ways to protect themselves from financial exposure. One approach is the inclusion of gross-up provisions in leases.

Net operating losses: Losing money might have a silver lining

It’s probably safe to say that your goal as a business owner is to make, not lose, money. But there are situations in which your company might be able to minimize the impact from business losses.

Construction Success Story: Contractor considers ways to raise his company’s profile

A small custom homebuilder in a growing suburban area was maintaining a modest stream of business. He had enough jobs to keep his crew busy, but not enough to expand. Nearly all of his projects came through referrals from former customers, who recommended his company to their friends and neighbors.

Don’t lose your charitable tax deduction on use restrictions

When taxpayers contribute property to charitable institutions, they generally follow up by claiming a charitable deduction on their tax returns. But that deduction isn’t a given — you must comply with the IRS’s strict requirements.

Paying for LTC insurance with your life insurance policy

At least 70% of people over the age of 65 will require some level of long-term care service, according to insurance company Genworth Financial’s 2016 Cost of Care Survey.

When can our small business sign up for SHOP coverage?

Question: We’re a small employer and would like to make health coverage available to our employees through the Small Business Health Options Program (SHOP). Is there a specific time of the year when we must sign up for this coverage?

Not so fast! Federal court denies real estate agent's rental loss deduction

The IRS generally considers rental real estate investments as passive activities, meaning taxpayers can use any related losses only to offset income from passive investments. The tax code does grant an exception for rental activity losses incurred by real estate professionals, but it’s not enough just to qualify as a real estate professional.

Beware of the “kiddie tax” trap

Making gifts to children and grandchildren is a strategy sometimes used to reduce taxes. Doing so may shift some of your income into a lower tax bracket and remove assets from your taxable estate.

General contractor focus

General contractors and subcontractors share a contractual relationship. But, as colleagues and partners engaged on projects in common, they also must relate to one another as people.
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