Tax Ideas for a Booming Industry
The construction industry is alive and well in 2017. As a major force in New York and the greater US economy, it employs more than 6 million workers at 650,000 companies, while creating structures worth nearly $1 trillion each year, according to the Associated General Contractors of America. As the industry advances, we see companies growing in both size and profitability. This growth and prosperity, however, triggers increases in corporate and personal income taxes, challenges to managing cash flow, and a host of other business challenges. In order to maximize success, contractors need a proactive planning process, guided by qualified advisors.