More about Ben Theuninck
Blog Posts by Ben Theuninck:
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Construction Opportunities in The Inflation Reduction Act
Authored by Perry McGowan : Professionals : CLA (CliftonLarsonAllen) (claconnect.com) Breaking a lengthy stalemate and attracting wide publicity, a Senate compromise was announced on July 27th between Joe Manchin (D. West Virginia) and other Democrats. As we mentioned in our previous blog, this Inflation Reduction Act proposal is built on a combination of tax and […]
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Optimism for Contractors in the Inflation Reduction Act
Authored by Perry McGowan : Professionals : CLA (CliftonLarsonAllen) (claconnect.com) In a July 27th surprise, Senate Democrats reached an intra-party deal with Senator Joe Manchin (D. West Virginia) for proposed tax and economic legislation under the name Inflation Reduction Act of 2022. The Act still has a full gamut of process to navigate in the […]
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Opportunity Zones Update: Key Dates and Benefits
Please join CLA professionals for this on demand webinar exploring the potential benefits of investing in qualified opportunity funds (QOF) at the following link: Opportunity Zones Update: Key Dates and Benefits : 2022 : Events : CLA (CliftonLarsonAllen) (claconnect.com)
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CLA Webinar – Managing Sales Tax Compliance
Please join us for the Managing Sales Tax Compliance webinar on Wednesday, May 25th. CLAs Rance Morton : Professionals : CLA (CliftonLarsonAllen) (claconnect.com) and Zach Tyson : Professionals : CLA (CliftonLarsonAllen) (claconnect.com) will discuss managing today’s filing requirements for sales and use tax (SUT), which comes with it’s own set of challenges. Including personnel shortages […]
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Construction Inflation Report
Authored by Perry McGowan : Professionals : CLA (CliftonLarsonAllen) (claconnect.com) The last year has been awash with rising prices and supply bottlenecks though some construction areas have been hit harder than others. An obvious example is diesel fuel and gasoline. Prices for these highly visible and easily tracked commodities have risen by one third over […]
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Take Advantage of the 45L Credit for Residential Buildings Through 2021…and Let’s Hope it Gets Extended for 2022 and Beyond
Authored by Patrick G. Risse (Energy Tax Credits : All Construction : Industries : CLA (CliftonLarsonAllen) (claconnect.com) The Energy-Efficient Home Credit, also known as the 45L credit, is currently available through December 31, 2021. We are all waiting and watching to see what happens with the credit’s future for 2022 and beyond. In the meantime, […]
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Changes to the Business Interest Limitation Could Affect Contractors in 2022
authored by John Werlhof : Professionals : CLA (CliftonLarsonAllen) (claconnect.com) Following the tax reform bill passed in 2017, the deduction for business interest is generally limited to 30% of adjusted taxable income (see CLA article March 2018 Dissecting the Business Interest Expense Limitation : 2018 : Articles : Resources : CLA (CliftonLarsonAllen) (claconnect.com). Depreciation has […]
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“Traditional” or “Reverse” Year End Tax Planning?
The Biden Administration remains committed to its “Build Back Better” (BBB) economic stimulus and social spending plan despite failing, so far, to muster support in the Senate to advance the package. It is now clear that 2021 will conclude quietly, with tax reforms (if they happen) waiting for 2022. Concerns about rate increases earlier in […]
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The ERC Catch-up Rules are Out!
authored by Perry McGowan Many contractors enjoyed payroll tax credits from the Employee Retention Credit (ERC) program in 2020 and/or 2021. Many expected to qualify in Q4 of 2021 right up to November 15 when President Biden signed the Infrastructure Act, and the ERC was retroactively repealed to October 1st. Contractors that had been reducing […]
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State Pass Through Entity Election – Is it right for your business?
In the four years since the TCJA put into law the $10,000 maximum State And Local Tax (SALT) deduction, many states have responded by creating pass-through entity (PTE) elections. These allow entities taxed as partnerships and S corporations the option of calculating and paying tax at the entity level (rather than having the tax borne […]