Tag: tax
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Are Home Improvements Tax Deductible?
For many American homeowners, the allure of a gleaming new kitchen or the promise of energy-efficient windows often leads to a significant investment. As invoices pile up and new fixtures take shape, a recurring thought emerges: can these substantial expenditures yield a benefit come tax season? The straightforward answer, for the vast majority of standard…
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Are Home Improvements Tax Deductible?
For many American homeowners, the allure of a gleaming new kitchen or the promise of energy-efficient windows often leads to a significant investment. As invoices pile up and new fixtures take shape, a recurring thought emerges: can these substantial expenditures yield a benefit come tax season? The straightforward answer, for the vast majority of standard…
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IRA tax credits spur construction, manufacturing in red and blue states
Emmanuel Martin-Lauzer is director of business development and public affairs at Nexans. The jury is still out on whether the Inflation Reduction Act (IRA) has helped contain or reduce inflation. Nevertheless, certain provisions have delivered tangible benefits that deserve closer examination before any potential repeal. While some provisions may not have broad appeal, one success…
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House committee advances bill with ‘big three’ business tax relief
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: The tax bill that was advanced Wednesday out of the House Ways and Means Committee contains both controversial breaks for individual taxpayers such as eliminating taxes on overtime pay and tips as well as business-friendly…
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Government raked in £1.4bn in stamp duty before the March 30th deadline, as calls to remove the tax grow
UK homebuyers shelled out an extraordinary £1.4 billion in stamp duty in March 2025 as they scrambled to beat major tax threshold cuts, according to new HMRC figures. This surge marked a 34% jump from February and a 63% increase compared to March 2024, highlighting how thousands rushed transactions to avoid steep hikes set for…
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6 Ways Outsourced Accounting Helps Construction Companies Prepare for Tax Season
Recent findings from Adobe revealed that only one in three small business owners feels prepared for tax season. While filing taxes is an undoubtedly stressful and burdensome task in and of itself, messy and inaccurate record-keeping throughout the year can further exacerbate the stress of tax season. With the scramble of the 2024 tax season…
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Construction and real estate companies can prepare for tax changes under Trump
With Donald Trump back in the White House and Republicans controlling Congress, construction and real estate companies should anticipate significant tax policy shifts in 2025. While the final details remain uncertain until legislation is signed, a unified government is prioritizing broad tax changes—particularly as more than 30 provisions from the Tax Cuts and Jobs Act (TCJA) approach…
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Will you pay capital gains tax when you sell a self-build home?
If you’re only just embarking on building your own home, the moment when you put it up for sale might seem a very long way off. But the question of whether you’ll pay capital gains tax (CGT) when you sell or dispose of the home is, after all, an important one. Just as when you’re…
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R&D tax credits: unlocking growth in 2025
Do you qualify for R&D tax credits? As the UK construction sector continues to evolve, innovation remains at the heart of its growth. From digital construction methods to sustainable building materials, contractors are consistently pushing the boundaries of possibility. But, with tighter budgets and increasing project complexity, are you leaving money on the table by…
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Construction leaders eye estate planning as tax changes loom
Listen to the article 7 min This audio is auto-generated. Please let us know if you have feedback. Anita Mahamed is a CPA, CFP and a partner at Milwaukee-based Wipfli, an accounting and consulting firm that works with construction companies. She leads Wipfli’s construction and real estate practice in southern Wisconsin. Opinions are the author’s…