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Concannon Miller to Detail Major Tax Reform Changes for Construction Companies

Posted by Concannon Miller on Mar 22, 2018 9:50:40 AM

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Crane-emblem---construction--no wording.jpgFederal tax reform through the Tax Cuts and Jobs Act included major changes for construction and construction-related companies – the biggest in more than 30 years.

To help construction company owners and executives understand and take best advantage of the new tax laws, Concannon Miller will be detailing the many changes at an upcoming Associated Builders and Contractors (ABC) seminar.

The changes include:

  • A new major business deduction for owners of pass-through entities, providing a tax shelter for up to 20% of their business income.
  • Increased depreciation to accelerate write-offs of business asset purchases, including building improvements, computer systems, vehicles, machinery, equipment and office furniture.
  • A new significant benefit for construction companies whose average annual revenue is between $10 million and $25 million.

The seminar runs from 9 to 11 a.m. April 17 at ABC’s East Norriton’s office. It’s free for ABC members and $50 for nonmembers.

Concannon Miller’s experienced construction team of Andy Kahn, CPA, MBA, CFP, and Troy Silfies, CPA, will unpack all the new tax laws that are relevant to construction companies. More information and registration can be found here.

Learn more about the new tax changes for construction and construction-related companies in this article and read more tax and accounting advice for construction companies here.

Topics: Events, Construction & Real Estate Development

Concannon Miller’s unique, holistic and intimate approach to financial health sets us apart from smaller CPA firms with more limited resources as well as mega firms where mid-sized clients struggle for attention. Contact us here to talk about improving your business.

This communication is designed to provide accurate and authoritative information in regard to the subject matter covered. However, the general information herein is not intended to be nor should it be treated as tax, legal, or accounting advice. Additional issues could exist that would affect the tax treatment of a specific transaction and, therefore, taxpayers should seek advice from an independent tax advisor based on their particular circumstances before acting on any information presented. This information is not intended to be nor can it be used by any taxpayer for the purposes of avoiding tax penalties.

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