Contractor / Builder / Developer Tax Plan


As the year progresses toward the finish line, it’s time to make some final decisions on year-end tax strategies. While many contractors subscribe to the age-old strategy of deferring income and accelerating deductions, for certain contractors, the month of December might be a time to implement the reverse strategy. Don’t wait until 

Let our team assist you with your Contractor / Builder / Developer Tax Plan. When tax time rolls around, it is not uncommon for contractors to feel like the deck is automatically stacked against them. But the right tax planning strategy gives you a few “aces up your sleeve” to ensure the House, in this case – the IRS, doesn’t catch you off guard.

When you add in the challenges and uncertainties of late, understanding the tax benefits available to you is more important now than ever. These tax benefits could help you improve your hand and save a substantial amount of money. As you build your 2023 tax planning strategy, there are several tax credits and deductions contractors should consider.

Included you will find the 310 page Contractor Tax Plan (that is also relevant for builders and developers) along with files and videos regarding the Accountable Expense Reimbursement Plan, the Augusta Rule, how to Hire your Kids, your Home Office, Section 139 Disaster Relief information, and everything you need to know about travel.



Small business and self-employed workers have unique tax responsibilities. Applying the right deductions is critical. For instance, if you work out of a home office, you may be eligible for a deduction. You might also deduct the cost of vehicles, office equipment, travel and other business-related expenses. If you’re starting a new business, it’s important to take advantage of any tax relief.

Tax planning has many short-term and long-term benefits. The main short-term benefit is more money in your pocket after tax season. Long-term benefits might include any of the following, depending on your situation:

  • Solving tax issues: If you owe back taxes or have other tax issues, planning can help you address these concerns and find a solution.
  • Building a college fund: Tuition costs have risen exponentially in previous decades. If you want to build a college fund for your child, you can take advantage of the American Opportunity Credit to help you minimize future education expenses.
  • Supporting your business: Starting or sustaining a business is challenging for many reasons — tax liability need not be one of those reasons. With small business tax planning, you can boost your business and accumulate more resources for growth.
  • Saving for retirement: Your retirement contributions can grow tax-free over time, resulting in a sizable nest egg for the future. Retirement might seem a long way off, but early planning is vital for a comfortable post-career life.
  • Maximizing an estate: If you have an estate large enough to incur state or federal estate taxes, proper planning can make a notable difference for your family’s finances, reducing your liability.
  • Securing more for your heirs: With thoughtful tax planning, you’ll have more to pass on to your heirs. You can also work to minimize your heirs’ inheritance tax liability, so they can keep more of your lifetime earnings.