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Construction mobility costs and their tax implications

Construction projects by their very nature are done on-site. Tax deductions related to mobility can be unique and overly complicated from a tax perspective. The treatment of these mobility costs can have major impacts on the business’s taxable income and the employee’s taxable compensation.

Do you have an accountable or non-accountable plan? Are you paying per diem? Is your expense reimbursement policy in compliance? Are employees using your business vehicles? Is the business using employee vehicles? All of these questions have major tax and legal impacts.

Kyle Kmiec, Tax Senior Manager, says “It’s incredibly important to partner with a CPA firm that understands the industry inside and out. At Calvetti Ferguson, we have team members who have worked in and around the construction industry for decades and not only understand the business but also the tax implications. We love working with our clients to help them get the most out of their tax planning.”

The below whitepaper provides information you can use to analyze which method can provide the best results for your organization and provide some tools to help make your current compliance efforts simpler. This guidance covers accountable versus non-accountable plans, reimbursable travel expenses, accountable plan methods including direct reimbursement, per diems and company provided automobiles, company-provided lodging, and other fringe benefits.

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Calvetti Ferguson works with middle-market companies, private equity firms, and high-net-worth individuals nationwide. Regardless of the complexity of the compliance, assurance, advisory, or accounting need, our team is ready to help you. Please complete the form below, and we will follow up with you shortly.