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Tax Deductions Every Construction Company Should Know
- Aashir Abbas
- Sep 15
- 1 min read
Construction companies face unique tax challenges — from managing equipment costs to handling subcontractor payments. Missing deductions can cost thousands of dollars each year. At MarkhamNorton, we specialize in helping Fort Myers construction businesses reduce their tax burden.
Top Tax Deductions for Contractors
Equipment & Vehicle DepreciationDeduct heavy machinery, trucks, and tools used for business.
Materials & SuppliesTrack direct project costs for full deduction.
Subcontractor PaymentsPayments to subcontractors are deductible if properly reported.
Employee Wages & BenefitsPayroll and related benefits qualify as deductible business expenses.
Business Travel & MileageTrips to job sites or client meetings are deductible with records.
Why Work With a CPA?
Ensures compliance with IRS rules.
Maximizes deductions while minimizing risk.
Provides industry-specific financial insights.
FAQ
Q: Can I deduct tools and equipment in the same year?A: Many items qualify for Section 179 immediate deduction, but it depends on cost and usage.
Q: Should subcontractor payments be reported?A: Yes, with Form 1099-NEC for any subcontractor earning $600 or more.
Save money and reduce stress with construction tax planning from MarkhamNorton in Fort Myers.