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The needs of construction companies are complex as a result of an ever-changing and highly regulated environment, laws that vary by both state and local jurisdictions, and various banking and surety bond requirements. We are ready to address these and other related concerns, and help anticipate major issues that might adversely impact your business.
Our firm’s National Construction Practice brings decades of residential, industrial, commercial, and heavy construction experience working with a wide range of key industry segments including general contractors and subcontractors; underground and underwater construction; tunnel, bridge, road and highway contractors; institutional construction; and suppliers. Our clients range in size from startups to $1 billion in annual revenue.
Our professionals are among the country’s foremost authorities on tax, accounting and business issues for the construction industry. We pride ourselves on being a learning organization and strive to keep our clients and staff abreast of evolving and relevant industry topics.
We offer the highest quality of personal service and delivery of an exceptional product on every engagement. Our hands-on partners are committed to providing you “The Next Level of Service” for all of your construction needs.
As 2018 comes to an end, it is important for construction companies to be aware of the trends that are expected to be seen in 2019.
Over the past few years, Detroit has seen a building boom in an effort to rebuild the city to its former glory. In November; Bedrock, Barton Malow Company and Turner Construction hosted the Ready.Set.Build! Construction Career Expo at Detroit’s Cobo Center. Types of trades at the expo included plumbers, pipefitters, electricians, welders, and many more. The Ready. Set. Build! expo gave job seekers hands-on approaches to learning trades with virtual simulators and participation in live demonstrations.
The Windsor-Detroit Bridge Authority (WDBA) has finally selected Bridging North America (BNA) to design, build, finance, operate and maintain the second Detroit-Windsor Bridge named after Detroit Red Wing Legend, Gordie Howe. The procurement process began in July 2015 and was announced in September 2018. The construction of the bridge has been valued at a fixed-priced contract value of $5.7 billion and will take approximately 74 months to complete, with an anticipated service date at the end of 2024.
Before tax reform, there were not many limitations on a business's ability to deduct interest expense on their tax return. However, beginning in 2018, tax reform will significantly alter the ability to deduct business interest expense for a great many taxpayers.
Tax reform provides an opportunity for simplification and tax relief for "small" businesses. Under the Act, a small business is defined as a taxpayer with average gross receipts during the previous three tax years of $25,000,000 or less. The $25,000,000 limit will be indexed for years after 2018. So what are qualifying taxpayers eligible for?