Construction Trend Data
With strong surges in the nonresidential and nonbuilding sectors, new construction starts for December jumped 19%. Between November and December, nonbuilding construction advanced 29%, nonresidential building climbed 25%, and residential construction grew 3%. Total construction starts amounted to $412.5 billion for 2010, down 2% from 2009. However, this represents a far less decline than the 24% drop that occurred between 2008 and 2009. more

Congress Approves Two-year Extension of Lower Tax Rates
While it did not include stimulus funding aimed specifically at the construction industry, the $858-billion tax relief package signed into law by President Obama in December contains a number of provisions that affect business owners, including extensions of tax breaks for investments in equipment and renewable energy by businesses. The new law also includes an extension of reduced tax rates on individual income and dividends/capital gains, a reduction in payroll taxes, an AMT patch, and estate tax relief through 2012. more

Outdoor Living Spaces Add Comfort and Value to Homes
The days when a backyard was just an expanse of grass may be gone, as more Americans have come to view their yards as an extension of their home that can be used for dining with family, entertaining friends, or simply relaxing next to a fire after a long day at work. Adding an outdoor “room” to a home can increase the value of the property and serve as a selling point in a competitive real estate market. more

To ensure compliance with requirements imposed by the IRS, please note, any advice contained in this publication was not intended, or written, to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. This publication is distributed with the understanding that the publisher and distributor are not providing legal, accounting or other professional advice and assume no liability whatsoever in conjunction with the information contained within this publication.