Tax Accounting Methods for Construction Companies and Contractors

How DK Delivers Family Office Expertise to Successful Business Owners.

Inflated grocery and energy bills are straining household budgets this year. While you can’t stop inflation, there are legitimate, proactive steps you may be able to take to lower your federal income tax bill. Here are six midyear tax planning ideas for individuals to consider. But time flies, so don’t delay meeting with your tax advisor to set things in motion.

A volatile economy calls for strong analytical tools, such as breakeven and burn rate. Breakeven calculates the sales volume at which a company (or investment) starts to become profitable, whereas burn rate shows how fast a business uses its cash. Here’s an overview of how to calculate both of these critical metrics and why they’re so important to managing performance.

Construction projects require large investments of labor and materials, all of which can be at risk from vandalism, theft, unpredictable weather and other factors. But real estate developers, building owners and contractors can minimize the exposure with builder’s risk insurance. Here’s a rundown of what this insurance provides and how premiums are set.

Uncle Sam can be generous when it comes to adopting children. Here are the details of the tax breaks that are currently available to adoptive parents, as well as income limits and documentation requirements imposed.

When designing an estate plan, you want to minimize the risk that your heirs will fight it legally after your death. Fortunately, there are strategies you can implement now — that can help keep the peace later. This article takes a look at some steps you can take to ensure your wishes are carried out.