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Exit Strategy: ESOPs for Construction Companies

Contractors often struggle to find suitable buyers for their companies when they're ready to retire or otherwise move on. That may be why many construction businesses implement employee stock ownership plans (ESOPs)....

The IRS issues final regs for the advanced manufacturing production credit

The IRS has published final regulations for the Section 45X advanced manufacturing production credit. The final regs update several significant areas from the proposed regs released in late 2023. The credit in a...

Prepare for the Tax Fiscal Cliff: What Construction Contractors Need to Know

As the 2025 tax fiscal cliff approaches, construction companies face critical changes that could significantly impact their bottom line. Depending on any changes made by the new administration, the expiration of key...

Nationwide Preliminary Injunction Against Enforcement of the Corporate Transparency Act

As a result of a Texas federal court decision handed down on December 3, 2024, a preliminary injunction is now in place against enforcing the Corporate Transparency Act. While this is not likely to be a final stop in...

Year-End Tax Planning for Businesses

With the looming Fiscal Cliff of 2025 and uncertainty as to whether or not provisions of the TCJA will be extended, businesses should maximize year-end tax savings strategies. There are many ways a business can...

Year-End Tax Planning for Individuals

MINIMIZING INDIVIDUAL TAXESIncome taxes The key to any year-end planning strategy is to minimize taxes. This is generally done by either reducing the amount of income received or increasing the amount of deductions....

U.S. Tariffs and The Impact on the Manufacturing Industry

During 2018 and 2019 the Trump administration put in place tariffs on approximately $380 billion of foreign products creating one of the largest tax increases of roughly $80 billion on Americans. The Biden...

Everyone Needs a Basic Estate Plan

Regardless of your financial situation, everyone should have a basic estate plan in place. Why? Because there are two things that are unavoidable - death and taxes! Estate planning encompasses a range of legal and...

The Moore Court Case: A Plain Explanation of the Supreme Court Ruling Against Taxpayers in IRC Section 965 Case

This past Thursday June 20, 2024, the Supreme Court of the United States issued a 7-2 opinion in Moore v. United States, 602 U.S. __ (2024), ruling in favor of the Internal Revenue Service (IRS)...

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