American Subcontractors Association Michigan
February 2011 General Membership Meeting

An audience of three dozen braved the cold to attend February’s ASAM General Membership meeting where Claude Titche and Eric Smith, partners at Beene Garter, spoke on the topic of “Construction Tax Strategies for You and Your Business.”

Highlights of their presentation included the following:

• Two-year planning horizon
• Income deferral for contractors
• Methods of Accounting (Long-term contracts, exceptions to the use of POC)
• Depreciation (Bonus Depreciation and Section 179)
• Employment Related Business Strategies (Small Business Health Insurance Credit)
• Tax Credits (Research & Development, Work Opportunity Tax Credit)
• Energy Incentives
• Michigan Taxes (MBT apportionment)
• Individual Strategies (Retainage, Dividends, Estate Taxes)