Most Overlooked Deduction for Clients in the Construction Industry
I want make you aware of a substantial
deduction that many people in the construction industry qualify for but is
often overlooked by tax preparers.
Specifically, I am speaking about the “Domestic Production Activities
Deduction”.
Personally, I think there are a couple of
reasons this deduction is not being taken advantage of:
·
Some tax preparers may not be up to
speed on all changing tax laws as it relates to the construction industry
·
The tax law covering this deduction can
be somewhat complicated
·
Some home builders don’t have their
accounting system setup correctly to capture the data needed to do the
calculations
I would love a chance to talk with you about
how we can help your business run more efficiently and profitably. We are located in the Claremont Commons
building on East Battlefield (right next door to Metropolitan Grill). Feel free to stop by or schedule an
appointment, I would love to hear from you!