January 2023

Alexis M. Layo  Tax Supervisor

Significant Changes to the 179D Energy-Efficient Commercial Buildings Deduction The Inflation Reduction Act of 2022 (the "Act") introduces business incentives that could directly impact the construction industry. The Act includes new and expanded "green" building tax incentives for those constructing or improving real property. These changes are significant and add additional value to the Internal Revenue Code Section 179D energy-efficient commercial building deduction. In this article, I'll explain the various tax-saving opportunities, who is now eligible to receive the deductions and what provisions you should be aware of for future projects. Read More

What Are Change Orders Really Costing You? Most construction projects are well planned and documented before a shovel hits the ground. That’s why change orders are a big deal; they represent a notable deviation from the building plans. This article discusses how contractors can better identify the true costs of change orders. A sidebar looks at whether a construction company should ever consider doing change-order work for free. Read More

Construction Businesses Must Step Carefully When Hiring On-site Labor To mitigate the skilled labor shortage or perhaps manage payroll constraints, a construction business might be tempted to engage on-site laborers as independent contractors rather than hire them as employees. If this is the case for your company, you will want to make sure you are up to speed on the Fair Labor Standards Act (FLSA) and its rules regarding employees vs. independent contractors. In this article, we will discuss the painful legal and financial consequences that can come from one construction company’s mishandling its obligations under the FLSA. Read More

Nine Cash Flow Management Tips for Construction Companies Construction businesses face great challenges when it comes to managing cash flow. The industry is known for its ebbs and flows, and inflation has been on the rise. This article provides a list of nine tips to consider to help improve your cash flow management. Read More

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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.  OFFICE LOCATIONS: DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202 213 North Street #1, Auburn, NY 13021 220 Harborside Drive, Suite 201, Schenectady, NY 12305 220 Stage Road, Vestal, NY 13850 To learn more about Dannible & McKee, visit us at: www.dmcpas.com.