PPP-funded expenses not deductible for borrowers that receive forgiveness

Denise Gillin Uncategorized

By Construction Dive Guidance released this week by the Internal Revenue Service could have tax implications for construction companies that plan to ask for forgiveness of their Paycheck Protection Program loans. The new guidance is in line with an IRS notice this spring that ruled out tax deductions for wages and rent paid with forgivable PPP loans in order to prevent a …

Pursuing a better balance of risk for P3 projects

Denise Gillin Uncategorized

The next new thing in the construction industry, be it a project delivery method or the latest technology, always garners a lot of attention, even from those that might not ever use it. This is probably the reason that while most contractors have never been part of a public-private partnership (P3) team, they definitely watch those who are. So, the …

Only Eight States Top February Peak in Construction Employment Despite Gains in 32 States Last Month; More Losses Loom Without Loan Renewal

Denise Gillin Uncategorized

By Construction Business Owner Only eight states and the District of Columbia have recouped the severe pandemic-induced losses of construction jobs that occurred last spring, according to an analysis by the Associated General Contractors of America of government employment data. Association officials warned that job losses will become even more widespread unless lawmakers promptly renew and expand the loan program that enabled …