News by MHCS

7 Business and License Permits for 2022

Jul 05, 2022

If your business is expanding, here are seven permit requirements to keep in mind. If you plan to expand operations into another state, you must obtain an EIN and federal tax ID number; plus, get a ...

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Construction Companies: Know Your R&D Tax Benefits

Jun 30, 2022

Of particular relevancy to construction companies is the research and development tax credit, a tax incentive program. Also known as the research and experimentation tax credit or the research tax cre...

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9 Ways To Avoid an IRS Audit

Jun 27, 2022

While you cannot fully control whether the IRS audits you come tax season, there are measures you can take in an effort to lower your chances of being audited. It all starts with hiring a reputable ta...

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You Want Your Commercial Real Estate Agents to Be More Efficient

Jun 21, 2022

When you hire a new agent, do you conduct a standard office job interview? Do they have the training necessary to put their real estate skills and knowledge to good use? If all of your new agents end ...

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Essential Tips for Managing Your Construction Company's Inventory

Jun 16, 2022

Construction and inventory don’t always go hand in hand, but it’s important to understand your company’s cost to acquire products as your largest expense. For construction company owners who don't ut...

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THE PRODUCTION LINE - JUNE 2022

Jun 16, 2022

The newest edition of The Production Line is here! In this edition we provide information going green, undercapitalization for manufacturing companies, internal risk assessments, and artificial intell...

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What Business Owners Need To Know About Depreciation

Jun 14, 2022

Depreciation is an annual tax deduction that allows small businesses to recover the costs of certain property that decreases in value over its lifetime. It's an allowance for the wear and tear, deteri...

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The Future of Technology in Construction

Jun 10, 2022

A major hallmark of the Covid-19 pandemic is the increased use of technology. All industries and services had to consider different technologies so that their businesses could continue functioning. Th...

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2022 Tax Incentives for Manufacturing Companies

Jun 06, 2022

Section 179 Federal Tax Deduction increased to $1,080,000 Section 179 Federal Income Tax Deduction: This deduction allows a company to deduct the first $1,080,000 of equipment (Section 179 Property) ...

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What Does Depreciation Mean to Your Construction Business?

Jun 03, 2022

Each time your construction company prepares its financial statements, you can record a depreciation expense. This spreads out the initial price of an asset over the course of its useful life. By taki...

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