Pro Vigil

Typically I write about job site security. Today’s post looks at your construction business security by way of tax tips for construction contractors from Grant Thornton.

Now, the article I found has 10 tips, but I’m only going to quote my top three. Please find a link to the rest of the article below.

(If you’re like me you might just want to print these out and bring them in to your accountant or CFO to see if he’s thought of these methods for saving money…)

“1) Consider establishing a separate entity to own and lease fixed assets used in your business. Often referred to as “leasing companies” or “procurement companies,” these entities help manage your assets and may significantly reduce your sales and use tax – a tax you collect and remit regardless of whether your company is profitable.

“2) Determine if your company has overpaid sales and use taxes. Most companies pay a substantial amount of money to suppliers and state tax authorities, but often overlook potential sales and use tax exemptions.

“3) Consider the benefits of restructuring your business (for example, by establishing a partnership to provide inter-company services), while at the same time potentially reducing state, local and unemployment tax liabilities.”

Read the full 10 tax tips for construction contractors.

…and be sure to secure your construction site from thieves and vandals. Let Pro-Vigil stop job site intrusion with 24/7 security personnel who monitor live digital video of your site and chase intruders off with sirens and strobes. Contact Pro-Vigil at 866.616.1318 today for a free security consultation today.