Articles Tagged with ''taxes''

Roofing companies need to keep these strategies and new legislative changes in mind when filing their 2022 taxes.

Election season is just starting to heat up, but some surprising trends emerged in the recent primary elections that could have an impact on the construction industry.

The contractor concealed the true size of his companies' payrolls from the IRS to reduce the cost of doing business and increase his profits. 

The contractor willfully failed to collect and pay over to the IRS required federal payroll taxes in the total amount of $185,681.90 from 2017 to 2020.

A reinstated rule could affect how roofing contractors categorize subcontractors, says Trent Cotney, partner at Adams and Reese.

Trent Cotney, partner at Adams and Reese, discusses a U.S. District Court ruling that reinstates an independent contractor rule affecting independent contractors.

With more roofing companies looking to sell, now is the time to know some important facts and statistics to inform your exit planning strategies.

The roofing contractor could face up to five years in prison and a fine for not paying several years' worth of federal payroll taxes.

Selling a roofing business might seem comparable to selling one’s home, but making such an assumption could be costly to business owners.

The roofing contractor owed more than $700,000 in income taxes to the IRS after failing to report more than $7.1 million in revenue and approximately $2.43 million in income.