Year end tax planning – Explore current incentives to boost your cash flow

Description

Abstract: Many current tax incentives are set to expire at the end of this year (though Congress might extend them), so now is a good time for contractors to start exploring ways to lock in those breaks and lower their 2011 tax bill. This article looks at some of these breaks, such as those applying to hiring workers from certain disadvantaged groups; constructing energy-efficient buildings; conducting research and development; and purchasing certain assets. A sidebar shows how cost segregation studies offer bigger tax savings than ever.