Construction Today - March 2011 - (Page 138)

Civil by Bill Ferlita Addition By Tax Deductions Contractors, engineers, architects or real estate developers could benefit from taking advantage of the domestic production deduction. Most of the planning techniques to save taxes involve revenue deferral or accelerating expenses to delay the payment of taxes. However, the domestic production deduction is an outright deduction you do not need to spend any money to take. The American Jobs Creation Act of 2004 enacted the domestic production deduction, available to construction contractors, engineers, architects and developers who perform qualifying construction services. This deduction is allowed for all taxpayers, individuals, C corporations and trusts. The deduction is also allowed for the partners of LLC’s and partnerships and shareholders of S corporations. The deduction is equal to 9 percent of a taxpayer’s qualified production activities income (QPAI). For years 2005 and 2006, the deduction was equal to 3 percent of QPAI BILL FERLITA is a tax partner for the Tampa Bay practice of Cherry, Bekaert & Holland LLP and a member of the firm’s real estate and construction industry group. He is currently a member of Associated Builders and Contractors (ABC), as well as a past ABC board member and treasurer, and the Construction Financial Management Association. He can be reached at 813-251-1010 or bferlita@cbh.com. 138 CONSTRUCTION-TODAY.COM MARCH 2011 http://www.CONSTRUCTION-TODAY.COM

Table of Contents for the Digital Edition of Construction Today - March 2011

Construction Today - March 2011
Table of Contents
Social Media
Exploring BIM
Best Practices
Urban Construction
Building Growth
Commercial
Bermúdez, Longo, Díaz-Massó (BLDM), S.E.
Wadman Corp.
Universal Builders Supply Inc.
Harold O’Shea Builders
Ralph L. Wadsworth Construction Co. LLC
Hudspeth & Associates Inc.
Dana B. Kenyon Co. – Florida State College at Jacksonville
Kaback Enterprises
Hyder Construction
On Site Management Inc.
Retail Developers in Ontario
Morguard Investments Ltd. – Bramalea City Centre and Expansion
Ivanhoe Cambridge Inc.
Bayfield Realty Advisors Inc.
Institutional
DZSP 21 LLC
Rudolph and Sletten
Collavino Construction Co. Inc. – One World Trade Center
MW Builders – Fort Leonard Wood AIT Barracks, Phase 1
Thor Construction
Weir Welding Co.
JE Dunn Construction Co. – Woman’s Hospital
Manhattan Kraft Construction Co. – Sarasota Police Department Headquarters
P.J. Hoerr Inc. – Advocate BroMenn Medical Center
Poettker Construction – Watterson Towers Renovations
Residential
Merit Kitchens
BBL Builders – Columbia Parc at the Bayou District
Reliable Builders Inc.
Joe Hall Roofing
Civil
ECM International Inc.
Branch Highways Inc.
GCC America Inc.
HOK: NOAA Pacific Regional Center
Last Look

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