New Tax Reform – What does it mean for construction companies?

The Construction Dive (www.constructiondive.com) put out an article regarding the new tax reform that I thought worthy of sharing.

The “Tax Cuts and Jobs Act” contains many provisions that will have a direct and significant impact on those in the construction industry. The majority of these provisions are summarized as follows:

– New Tax Rates
– Domestic production activities deduction
– Deduction for pass-through income
– Completed contract method/cash method of accounting
– Expensing of property, plant and equipment
– Business interest deduction
– Business entity selection

Read the full article by clicking HERE

Note: The opinions in the article are by an independent CPA, separate from not only Construction Dive, but also Florida Surety Bonds. For specific questions regarding how the Tax Reform will affect you and your company, please contact your CPA or Florida Surety Bonds.