Construction businesses can benefit significantly from industry-specific tax credits and deductions. Our CPA team specializes in identifying and applying these opportunities to help reduce tax liabilities and improve cash flow for sustainable growth.
Tax benefits in the construction industry can provide substantial savings, enabling firms to reinvest in their businesses and improve cash flow. Our CPA team is skilled in identifying and applying construction-specific tax credits and deductions, ensuring you benefit fully from each opportunity. Here’s how we help construction businesses navigate these critical tax strategies:
Section 179 allows construction firms to deduct the full purchase price of qualifying equipment and property in the year it is purchased and put into service. This immediate expensing capability is particularly valuable in the construction sector, where equipment costs can be significant. By leveraging Section 179, we help construction companies optimize cash flow and reduce taxable income effectively.
Bonus depreciation offers additional cost recovery by allowing accelerated depreciation on both new and used equipment. Unlike Section 179, there’s no annual cap on the amount that can be deducted, making it ideal for construction companies with significant equipment investments. Our CPAs guide construction firms through the application of bonus depreciation, supporting long-term financial stability and reinvestment capabilities.
Energy efficiency credits incentivize sustainable building practices by offsetting costs associated with eco-friendly improvements. Construction companies that invest in energy-efficient materials, insulation, or renewable energy installations may qualify for these credits. Our CPA team ensures your business captures all applicable energy credits, reducing expenses and supporting your commitment to sustainability.
Our CPA knowledge in construction tax benefits empowers your company to minimize tax burdens and reinvest savings into growth opportunities. Let us help you leverage every available credit and deduction, ensuring your construction business benefits from optimized tax strategies.