January 6, 2023 By: Michael L. Gentry The CICPAC Tax Thought Leadership Committee has compiled an updated summary of recent law changes that potentially impact the construction industry. This document overviews considerations for planning in 2022 and beyond, and covers changes from the following: The Tax Cut and Jobs Act (TCJA) signed into law in late 2017 The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) passed in March 2020 The Inflation Reduction Act of 2022 (IRA) that was passed in August 2022 You can view the document at the link below 2022 Tax Planning Opportunities – KatzAbosch Article by: Michael L. Gentry, CPA, CCIFP, CCA Michael Gentry, a Director with KatzAbosch, joined the firm in 1998. Mike serves on the firm’s Board of Directors and as Co-Chair of the Construction Services Group. He has provided accounting and tax services to contractors and construction firms for more than 15 years. In addition, he services closely-held businesses. A dedicated professional, Mike holds the prestigious distinction of Certified Construction Industry Financial Professional (CCIFP), a certification held by less than 50 professionals in Maryland and less than 1,000 professionals in the United States. He is also a CCA, certified construction auditor. This nationally recognized certification is sponsored by the National Association of Construction Auditors. By applying his knowledge of the latest trends and changes in the construction industry, he helps clients achieve their financial and personal goals.
