Virtual design with building information modeling saves taxpayer dollars

by Jim Lynch, Vice President, Autodesk Construction Products Group No longer the infrastructure envy of the world, many of the United States’ roads, bridges and tunnels are crumbling and in need of substantial maintenance or replacement. Compounding these challenges are the pressures of increased urbanization and population growth, which will place added stress on already strained systems. So, while the Beltway banter continues about addressing infrastructure funding, we can no longer focus solely on the amount of spending, but ratherRead More

Lower equipment operating costs:
Simple ideas for reducing fuel-related expenses

Contractors know that today’s marketplace is more competitive than ever and any edge can make a difference. With ever-fluctuating fuel prices, one chief concern is how to bid a project, knowing that the job may not start for months. Do you bid at current prices and hope they stay stable, or do you plan for potential price increases? Either way, there are methods to offset the rising costs of running equipment. Some may be things you’re already doing, others areRead More

Construction wages rising:
Firms paying more, but labor market remains tight

An Associated General Contractors of America (AGC) analysis showed construction wages on the rise, which seems to be attracting workers to return to the industry. The organization cautioned, however, that labor conditions still remain extremely tight. “Many firms are boosting pay and taking other steps to compete for a relatively small pool of available, qualified workers to hire,” said Stephen E. Sandherr, AGC’s Chief Executive Officer. “While these measures appear to be luring construction workers back to the job market,Read More

Tax Prep on desk

Investment Incentive: New tax law allows bonus depreciation on used equipment

Used equipment buyers are the recipients of expanded benefits with the passage of last year’s tax law, including the ability to combine Section 179 Expensing and first-year bonus depreciation. Previously, bonus depreciation was limited to new purchases only. Section 179 Expensing by itself can be significant, and generally companies use this deduction first. The Tax Cut and Jobs Act doubled the deduction limit to $1 million on qualifying equipment purchases, including previously owned machinery. It also raised the spending capRead More

Money stacked

Tax Law Spurs Optimism

Tax reform took firm hold this year, affecting both individuals and businesses, including major changes for some in the construction industry as Congress passed and President Trump signed H.R. 1, The Tax Cut and Jobs Act, last December. This legislation, in most cases, increased take-home pay, lowered corporate tax rates and included provisions designed to increase expensing limits. The signature piece of the legislation may be a reduced corporate tax rate, which was slashed from 35 to 21 percent andRead More