Job costing is the method of tracking and allocating all direct and indirect costs to individual construction projects. When applied consistently and accurately, job costing can help streamline the bidding process, act as a risk management tool and improve decision… Read More
Under the new tax reform which was signed into law on December 22, 2017, the itemized deduction for state and local taxes will be limited to $10,000 in 2018 going forward. In 2017 and earlier, taxpayers were allowed to deduct… Read More
Tax Reform Update for Real Estate and Construction Professionals
After much deliberation between the House and Senate, the tax reform bill has been passed and signed into law. Now, it’s time for real estate and construction professionals to understand and… Read More
Historically, taxpayers have been afforded the opportunity to include various expenses, in excess of 2 percent of their adjusted gross income (AGI), in the calculation of itemized deductions on their individual income tax returns.
Starting on January 1, 2018 and… Read More
Owning rental real estate can be a great supplemental source of income in addition to a normal day job. What is most commonly misunderstood about this type of investment is how an individual can treat the income and or losses… Read More