Don’t miss part 2 of the Construction Financials Webinar Series on September 26th.
AGC of Illinois participated in a roundtable with members of Congress focused on various workforce issues, including apprenticeships and career and technical education, the impact of the 2017 Tax Cuts and Jobs Act on companies’ abilities to invest in their workforce, and more.
Beginning on September 5, 2024, AGC will host a three-part webinar series on the basics of construction financials. Designed for professionals with little to no prior tax or accounting experience, the series will provide a foundational understanding of key financial statements: the balance sheet, income statement, and statement of cash flows. Later webinars will focus on fundamentals of construction taxes, and business operations such as identifying fraud, strategies to anticipate market changes, leveraging technology for efficiency, and creating a resilient infrastructure that adapts to future challenges.
In May 2024, House Ways and Means Committee Chairman Jason Smith (R-Mo.), along with the Republican members of the Committee, created 10 "Republican Tax Teams" to explore different aspects of the 2017 Tax Cuts and Jobs Act (TCJA). Many elements of this legislation, which was the most comprehensive rewrite of the federal tax code in over 30 years, have either already expired, or will expire in 2025. Included in these expiring provisions are a number of provisions that are particularly important to the construction industry, including the ability to fully deduct the cost of new and used equipment in the year it is purchased ("full expensing"), the increased exemption level for the estate tax, and the so-called "qualified business income deduction," also known as the "section 199A deduction."
Measure fell victim to partisan politics in an election year
This law imposes reporting requirements that raise privacy issues and noncompliance penalties.
Report, Titled “AGC for All” Catalogues Association’s Accomplishments During the Past Year
Help Us Generate a Comprehensive Outlook for 2024 by Taking the Survey Each year around this time, AGC asks you – our members – to predict what next year will be like for your business. AGC has partnered with Sage to prepare questions that focus on expectations for market performance, hiring, labor market conditions, etc. Please take a moment to complete the survey here. AGC of America will use the survey results to help make the case with elected and appointed officials in support of key member priorities. The more people who complete the survey by Thursday, December 7, the more effective the results will be in supporting our work on your behalf.