Last week I traveled the 120 miles from Phoenix to Tucson to attend the CFMA 2011 Tax Update presented by Beach Fleischman, a Tucson accounting firm. Although taxes are important, I have to admit I wasn’t crazy about the topic.  Tax seminars are comically used as an example of dull and uninteresting, but to my liking, the session was engaging and informative.  I was amazed by the volumes of information construction companies are expected to know about taxes.

Kim Paskal, the presenter from Beach Fleischman, covered more than 60 changes in the tax code including tax credits for employees hired in 2010; 2011 expense rules for SUV’s, Trucks and Vans; and an increase in the Social Security wage base for 2012; all of which  could impact a construction company’s bottom line.

Personally, I found the lengthy discussion on cancellation of real property business debt to be very helpful, having experienced my share of real estate investments gone south.

Ms. Paskal was well prepared and knowledgeable.   Having been a business owner myself, I know that relying on a tax expert like Kim is essential, especially if you are in a complex industry like construction.  It could mean real savings in your tax bill.

Talk to your tax advisor to get more details about how recent tax law changes might affect your business. If you need a good tax accountant I recommend calling Beach Fleischman.

For more information on this topic contact Ledgerwood Associates, the #1 Sage Timberline Business Partner in the Southwest!

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