Construction contractors should be aware of these special rules for long-term contracts

By Anna G. Duff, Tax Supervisor | Real Estate & Construction Team Construction contractors are required to use a percentage-of-completion method in determining taxable income from any long-term contracts (Sec.460 (a)). However, in the case of home construction contracts, or any other construction contracts, entered into by a taxpayer who estimates that such contract will […]

Business Vehicle Tax Savings Tips

By Anna G. Duff, Tax Supervisor As we enter the fourth quarter of 2016 and new cars, trucks, and SUVs are entering the roadways, we would like to advise our self-employed clients on the opportunity to maximize their tax savings from business vehicle purchases. The taxpayer advantageous Protecting Americans from Tax Hikes Act of 2015 […]

Top 10 Tips for Deducting Disaster Losses

By Anna G. Duff, Senior Tax Associate As the hurricane season begins, we would like to remind our clients and friends that, depending on the circumstances, the IRS is ready to grant additional time to file returns and pay taxes. Both individuals and businesses in a federally declared disaster area can get a faster refund […]


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