Whoo Hoo We Get Another Tax Break This Year

IHI · 01-10-2006, 07:11 AM

I was talking to my accountant yesterday and she just got the latest tax info and was telling me about it. In a nutshell, any business that deals with home construction ie residential construction be it carpentry, drywall, HVAC, electrical, plumbing, etc....we get to deduct 3% off our GROSS sales right off the top!!!!

This does not apply to phone companies or utility companies providing a product to a home, nor sales or anything that takes place inside the home....construction type work only.

Call you accountant and get the low down, 3% is huge!!!

Mike Finley · 01-10-2006, 10:24 AM

Federal or state?

IHI · 01-10-2006, 03:54 PM

I did'nt ask, but would have to assume Federal...if it were State I dont think she would've been so happy about getting the info (her family owns a construction company as well)

01-10-2006, 07:11 AM	#1
IHI View Profile IHI Pro Send Message Follow Blogs (0) Threads (2,302) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: General construction and remodeling Join Date: Dec 2004 Location: Waterloo, IA. Posts: 2,302	Whoo Hoo We Get Another Tax Break This Year I was talking to my accountant yesterday and she just got the latest tax info and was telling me about it. In a nutshell, any business that deals with home construction ie residential construction be it carpentry, drywall, HVAC, electrical, plumbing, etc....we get to deduct 3% off our GROSS sales right off the top!!!! This does not apply to phone companies or utility companies providing a product to a home, nor sales or anything that takes place inside the home....construction type work only. Call you accountant and get the low down, 3% is huge!!! __________________ Hot Rod Work Van Car video clip Web The Photo Gear- Type Josh into Contact name when ordering

01-10-2006, 10:24 AM	#2
Mike Finley View Profile Mike Finley Chief Toilet Mover Send Message Follow Blogs (0) Threads (14,078) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Chief Toilet Mover Trade: Bathroom Remodeling Join Date: Apr 2004 Location: Littleton, Colorado Posts: 14,078	Re: Whoo Hoo We Get Another Tax Break This Year Federal or state?

01-10-2006, 03:54 PM	#3
IHI View Profile IHI Pro Send Message Follow Blogs (0) Threads (2,302) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: General construction and remodeling Join Date: Dec 2004 Location: Waterloo, IA. Posts: 2,302	Re: Whoo Hoo We Get Another Tax Break This Year I did'nt ask, but would have to assume Federal...if it were State I dont think she would've been so happy about getting the info (her family owns a construction company as well) __________________ Hot Rod Work Van Car video clip Web The Photo Gear- Type Josh into Contact name when ordering

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Whoo Hoo We Get Another Tax Break This Year

Whoo Hoo We Get Another Tax Break This Year

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