4 Common Tax Mistakes Contractors Make

July 2015
Professional Contractor;Summer2015, p14
Trade Publication
The article discusses four tax mistakes that U.S. contractors commonly make. It includes the failure to depreciate new equipment correctly which could be an opportunity to decrease taxable income, the lack of awareness of the existence of fuel tax credits which offer substantial tax savings, and overlooking domestic production activity deduction (DPAD) which can help decrease taxable income.


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