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Larger QBI deductions will soon be available to many manufacturers

In a 2024 National Association of Manufacturers (NAM) survey, 93% of respondents who operate as pass-through entities stated that the impending expiration of the Section 199A qualified business income (QBI) deduction would negatively impact their ability to grow, create jobs and invest in their businesses. The One Big Beautiful Bill Act (OBBBA) nullifies those concerns. The new law makes the QBI deduction... Read More

9 cash flow tips for construction businesses

With tariffs, interest rates and other factors continuing to drive economic uncertainty, cash flow management should be a top priority for construction businesses. Here are nine tips for better maintaining your company's liquidity: 1. Stay on top of forecasting. Cash flow forecasting is essential — the more granular, the better. One best practice is to conduct rolling 13-week forecasts. Doing so is... Read More

7 ways to protect your manufacturing company from ransomware attacks

Ransomware has emerged as one of the most disruptive cyber threats currently facing the manufacturing sector. Unlike most other industries, manufacturers rely heavily on continuous operations, tightly coordinated supply chains and just-in-time production. A ransomware attack that locks critical systems or halts production lines can cause financial losses, damage to customer relationships and even long-term... Read More

Common claim triggers for construction businesses

"Where did it all go wrong?" If you've been in the construction business a while, you may have asked yourself this question when a claim by a project owner or some other party lands on your desk. Although there's probably no way to completely eliminate the risk of this happening, you can lessen the likelihood of claims by focusing on their most common triggers. Let's take a look at a few. Design... Read More

How will the changes to the SALT deduction affect your tax planning?

The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily. If you have high SALT expenses, the changes could significantly reduce your federal income tax liability. But it requires careful planning to maximize the benefits — and avoid potential traps that could increase your effective tax rate. A little... Read More

6 pertinent provisions of the OBBBA for construction companies

It's been a little over a month since the One, Big, Beautiful Bill Act (OBBBA) was signed into law. Now that the dust has settled, construction business owners and their leadership teams can begin to really pinpoint the provisions most pertinent to their operations. Here are six to study up on. 1. Accounting exemption For tax years beginning on or after July 4, 2025, contracts entered into for... Read More

New tax law creates an additional accelerated depreciation opportunity for eligible manufacturers

The One Big Beautiful Bill Act (OBBBA) introduces a new — but temporary — tax break for manufacturers. The qualified production property (QPP) allowance gives manufacturers a strong incentive to make capital investments in new production facilities. Here's what you need to know. Bonus depreciation for QPP Generally, first-year bonus depreciation is limited to tangible property with a... Read More

Major tax law changes manufacturers need to know about

Successful manufacturers have the ability to navigate various changes, whether positive or negative. On the positive side, potentially, are tax law changes enacted under the One, Big, Beautiful Bill Act (OBBBA). Perhaps the most important changes for manufacturers are the OBBBA's liberalized rules for depreciating business assets. Let's take a closer look at a few tax-related provisions that may be most... Read More

What contractors should know about newly boosted Qualified Opportunity Zones

Generally, as real estate development increases, so does construction work. To that end, contractors may want to start looking at qualified opportunity zones (QOZs) in their markets for project opportunities in the years ahead. QOZs were originally established under the Tax Cuts and Jobs Act (TCJA) to attract investment in economically distressed areas. They do so by offering substantial tax incentives to... Read More