Government Tax Credits: A Real Construction Opportunity That Should Not Be Left Behind
It can be a real challenge to best understand which projects are the most profitable and which are to be avoided. Sometimes projects can have special incentives that take them from the middle of the pile and can make them a strategic and financially wise decision. The problem is knowing what projects have hidden incentives, and why.
Brady Bryan CEO of Brayn Consulting joins Mike Merrill to discuss the newest tax credits available on construction projects, why they are available and the right mindset to have when dealing with tax incentivized projects.
- The federal government is only increasing incentives for energy efficient buildings. The incentives laid out for energy efficiency are now permanent tax breaks and new proposals happening in DC are only to increase those incentives. Now is the time to take advantage of every opportunity to build efficiently.
- Tax breaks and project incentives have a purpose. The incentives that exist aren’t there randomly. They are there to drive policy. Today’s tax breaks are there to ensure that new buildings are being built as efficiently as possible by engineers and workers based in the USA instead of overseas.
- If you don’t take advantage of the tax breaks the money just goes back to DC. The money is going to be spent to drive policy either way, its just a matter if you want to be the one determining how to be most efficient and how to hire US based labor or if you want the government to make that decision. It is both in your best interest and in the the best interest of the country that you take advantage of the tax credits that are available.