Mike D’Avolio, CPA, JD, is a tax law specialist for Intuit® ProConnect™, where he has worked since 1987. He monitors legislative and regulatory activity, serves as a government liaison, circulates information to employees and customers, analyzes and tests software, trains employees and customers, and serves as a public relations representative.
Many construction workers are classified as independent contractors. As self-employed professionals, they may claim business-related expenses as tax deductions, have a higher tax burden and have a potential need to see a tax professional. As a trusted advisor, a tax professional can advise them on some easy-to-digest tax topics, and help them save tax dollars and improve their cash flow.
As we near the business filing deadline, read this recap some of the topics related to the qualified business income (QBI) deduction, or sec. 199A, about which Intuit ProConnect most commonly receives questions.