Taxes - Articles - Page 2 | Roofing Contractor

Florida Contractor Takes Plea in $1M Tax Fraud Case

U.S. attorney says co-owner of roofing company failed to report $1M in income in 2017

April 9, 2024

The co-owner is reported to have willfully made a false statement in her Individual Income Tax Return Form 1040 for tax year 2017.

The NRCA is preparing for its annual Roofing Day gathering on Capitol Hill (pictured).

Policy News

Roofing Industry Prepares for 'Roofing Day' with Lawmakers

Yearly advocacy and outreach program keeps the agenda concise

Bryan Gottlieb

April 4, 2024

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With the annual Capitol Hill visit approaching, the Nation Roofing Contractors Association readies agenda items on labor shortages, taxes, and industry sustainability for discussions with lawmakers.

Why a Roofing Company Becomes a ‘Target’ for Acquisitions

The presence of private equity rolling up roofing contractor firms means your company may be on somebody’s radar — without you knowing it.

Kevin Kennedy

February 16, 2024

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Do you want your roofing contractor firm to be considered attractive for an outside sale? Consider your personal and financial goals, and beware of one-off deals.

A man doing accounting work making a displeaased face

Exit Planning

Stop Overpaying ‘Exit’ Taxes

Most business owners unnecessarily pay ‘exit taxes’ exceeding 55%; here’s how to reduce that rate to 15%-35%, saving a bundle

Kevin Kennedy

December 29, 2023

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Kevin Kennedy of Beacon Exit Planning provides a birds-eye view of alternative legal strategies to consider in your business exit that can save you a bundle.

Sarasota retiree disputes a 12% home value increase after roof replacement.

Florida Dispatch

Homeowner Challenges Increase in Home’s Taxable Value Tied to New Roof

A Florida law passed in 1992 capping increases is at odds with jump in home valuation

Bryan Gottlieb

December 27, 2023

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Sarasota retiree disputes a 12% home value increase after roof replacement, citing Florida's 'Save Our Homes' law. The law limits annual property value hikes for homesteads to 3%, but discrepancies arise due to interpretation by the local appraiser.

Solar Special Section

Solar and Roofing: Current Trends and Looking Ahead

Solar Surges in Multiple Roofing Markets – are Roofers Ready?

Judd Haag

November 16, 2023

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The solar industry is rapidly growing, with global revenue projected to reach $241 billion by 2031. The U.S. market alone is estimated to reach $900 million by 2025, driven by improved technology, reduced costs, design and installation enhancements and government tax credits.

Help your solar customers protect their investments from storm damage

Solar Special Section

How to Prevent Severe Weather Damage to Solar Panels?

Vikki Kumar

November 16, 2023

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Solar panels have shown remarkable resilience in severe weather, but falling debris or installation issues can sometimes cause damage; Panasonic offers some steps to prepare and protect solar panels from severe storms.

Solar Special Section

What is ‘Heartbeat Technology’ and How Can it Optimize Solar?

Solar Surges in Multiple Roofing Markets – are Roofers Ready?

Vikki Kumar

November 16, 2023

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Homeowners are increasingly turning to home energy devices like solar panels, batteries, and electric vehicle chargers - and a new technology called "Heartbeat," powered by AI and developed by Panasonic - is simplifying their management by connecting and optimizing energy systems through a single software platform.

Your Sale Options in a ‘Roofing Exit’

An overhead view of an owner’s exit options in the roofing industry

Kevin Kennedy

November 9, 2023

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Kevin Kennedy of Beacon Exit Planning provides an overview of considerations for roofing company owners contemplating their exit options.

Legal Insights

VIDEO: A Deeper Dive into New Solar Tax Credits

Trent Cotney’s been looking into the incentives included in the Inflation Reduction Act and has some suggestions for roofing contractors ready for the opportunity.

Trent Cotney

August 22, 2023

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In this brief video, RC Legal Insights expert Trent Cotney breaks down new solar and sustainability incentives baked into the Inflation Reduction Act passed last year.