As construction company owners shift their thoughts to a new year, it should not be forgotten that the recently enacted Small Business Jobs Act of 2010 (SBJA) may offer impressive cost savings to qualified firms.
Enacted in September, SBJA essentially provides various tax changes – most of them beneficial to company owners – and $30 billion for community banks to lend to small businesses. Because most Texas construction companies qualify as a small business, the law has a lot of appeal. Companies that aren’t certain about their status can go to the Small Business Administration (SBA) website to see if they qualify.