December 2024

Tax Planning for Expiring Trump Tax Cut Provisions

The Tax Cuts and Jobs Act (TCJA) of 2017, enacted under then-President Trump on December 22, introduced sweeping reforms with significant implications for contractors. However, several key provisions of the TCJA are set to expire at the end of 2025. In this article, I will discuss the potential changes as Trump prepares to take office in January, offering insights into how these developments may shape the future tax landscape for contractors.

Be Mindful of Backlog: Yours and the Industry’s

Effectively managing backlog is essential for construction businesses to maintain stability and profitability, as it offers valuable insights into future revenue streams, cash flow and resource allocation. This article explores backlog from dual perspectives—your company's and the industry's—while offering best practices for balancing bidding strategies, workforce planning and client communications to optimize backlog management.

What Contractors Should Expect When Getting Bonded

Many construction companies operate for years without needing to obtain a performance bond from a surety. However, if your business is new to the bonding experience and anticipates the need to “get bonded” soon, this article provides a guide on what to expect and how to navigate the process.

Integrated Project Delivery Model Offers Many Benefits

The Integrated Project Delivery (IPD) model of construction has been gaining in popularity in recent years. The model fosters collaboration among all project participants, offering benefits such as lower costs, fewer delays and reduced waste compared to traditional design-bid-build approaches. In this article, we will explore how IPD aligns shared risks and rewards, promotes transparency, and leverages technology to optimize efficiency.

Register for Our Annual Nonprofit Conference on January 9, 2025!

Don't miss our Annual Nonprofit Conference. This virtual conference will deliver valuable insights into the financial and operational challenges facing the nonprofit industry today, equipping you with the tools to manage your organization or serve on a board more effectively. Attendees will also have the opportunity to earn CPE credits.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders and maintain active involvement with our construction clients and the many organizations affecting their businesses. We stand out from our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Our comprehensive familiarity with all aspects of construction allows us to help you in business planning and long-term goals, while also resolving your daily operational needs to maximize cash flow.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street, Suite 101, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

3001 N. Rocky Point Drive, Suite 214, Tampa, FL 33607

To learn more about Dannible & McKee, visit us at www.dmcpas.com.