D&M Construction Industry Newsletter

February 2025

Featured Article From Our Experts

Is your Company Taking Advantage of the Enhanced Commercial Buildings Energy-Efficiency Tax Deduction?

The Inflation Reduction Act (IRA) of 2022 introduced significant enhancements to the Section 179D deduction, providing greater incentives for building owners and design professionals investing in energy-efficient commercial properties. In this article, I will explore the key changes, compliance requirements and steps you must take to maximize the tax savings under the revised Section 179D deduction.

Is Earned Wage Access a Viable Option for Construction Companies?

Earned Wage Access (EWA) is emerging as a valuable tool for construction companies seeking to attract and retain workers amid ongoing labor shortages. This article explores how EWA works, its benefits—such as reduced employee financial stress and improved job satisfaction—and potential drawbacks, including administrative challenges and provider fees. Providing an overview of how EWA can impact both employees and employers in the construction industry.

Digital Transformation Is for Construction Businesses Too

The term “digital transformation” refers to a strategic effort to integrate technology across all aspects of a business, fundamentally changing how it operates and delivers value. This trend is reshaping many industries, including construction. This article explores key strategies for integrating technology, training employees, and fostering a tech-friendly culture.

Lock Down Financial Assets With the Right Controls

Many contractors focus so heavily on preventing petty theft or equipment misuse that they overlook the home office or job trailer, where so much important information is held, and financial transactions take place. This article highlights effective strategies to lock down financial assets, such as dividing job responsibilities and conducting random audits, ensuring a stronger layer of protection for valuable data and financial operations.

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About Dannible & McKee, LLP

Dannible & McKee, LLP is a leading CPA firm that has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. Known for our technical expertise and deep industry experience, we are committed to delivering high-quality service tailored to our clients' needs. As trusted advisors to the construction industry, we are highly respected among construction leaders and actively engaged with many organizations that shape the sector. 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. With a comprehensive understanding of all aspects of construction, we help businesses navigate daily operational challenges, maximize cash flow and develop long-term strategies for sustained success.

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.