Construction is a risky business. Things can go wrong – even with the best-managed companies. Hoping the problem will work itself out is a natural knee-jerk reaction, but such delay may exacerbate it.

If you are building a construction business, you will most likely want to bid on projects that require bonding. Public works projects especially require bonding to demonstrate your business is trustworthy and financially stable enough to take the project on, enough that a bonding company is willing to guarantee your performance.

Buying a business is one of the most complex transactions you will ever experience. The many and often varied steps leading up to the closing agreement are critical in determining which party walks away with the better end of the deal. From the time you decide on the business you want to buy, the process is a series of negotiations with both parties seeking the upper hand.

After all the painstaking time and effort it takes to build a business, it probably wouldn’t dawn on a business owner that selling a business could be as challenging as it is. The good news is there are primarily two ways to structure a sale – an asset sale or a stock sale. However, determining which one would be most beneficial requires a thorough evaluation of several factors

Perhaps more than any other type of business, contractors depend on equipment to get work done. That’s why the type of deduction allowed through Section 179 of the U.S. tax code is perfect for them. Section 179 lets businesses deduct the cost of certain types of property from their income taxes as an expense for the year they’re placed into service instead of requiring the costs to be capitalized and depreciated over a long period of time.

Could your contracting business qualify for a tax deduction designed to discourage companies from outsourcing work overseas? You bet it can! The Domestic Production Activities Deduction (often referred to as the Qualified Production Activities Deduction) provides tax incentives for small and large businesses to produce most of their goods or do the majority of their work in the United States rather than sending it overseas.