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June 2022
Is Your Employee Benefit Plan Up to Date? Don’t Miss These Required Deadlines!

Keep your eye on the calendar! Thanks to certain Internal Revenue Service (IRS) required restatements and amendments, your pre-approved employee benefit plan document will likely be getting a “facelift” soon. In this article, I will review the deadlines approaching and the requirements plan sponsors will need to prepare for to ensure they comply.
Could You Qualify for an Energy-Efficient Tax Deduction?
Section 179D of the tax code allows a deduction for the cost of energy-efficient improvements to new or existing commercial buildings, as well as certain residential rental buildings. This article explains how construction companies might be able to qualify for the deduction, even though the tax break is primarily intended for property owners. 
Adding Value With Life-Cycle Cost Analysis
Life-cycle cost analysis (LCCA) seeks to estimate a construction project’s overall cost of ownership over its “useful life cycle.” It then strives to identify design or construction alternatives that will minimize costs over that life cycle. This article explains how contractors can play a role in LCCA and, in doing so, give themselves a competitive edge.
Businesses Will Soon Be Able To Deduct More Under the Standard Mileage Rate
Contractors may be tired of the rising gas prices and how they are affecting their business. Thankfully, as prices hit a record high, nearly $2.00 higher than a year ago, the IRS is providing some relief. The agency has announced an increase in the optional standard mileage rate for the last six months of 2022.
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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders, and we are actively involved with our construction clients and the many organizations affecting their businesses. We go beyond our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Because of our comprehensive familiarity with all aspects of construction, we’re able to assist you in business planning and long-term goals, all while resolving your daily operational needs to maximize cash flow.

To learn more about Dannible & McKee, visit us at: www.dmcpas.com