The Most Underused Tax Credit: Understanding 179D with Bill Harbeson

A lot of changes are coming to tax credits and other ways to save contractors and their clients money with the passing of the Inflation Reduction Act. This includes not only new programs, but also adjustments to regulations and extensions around exisitng credits like the 179D. It’s one of the most underused credits but it can save business lots of money. Knowing more about these credits can be a critical game-changer for your business.

In this episode, IDI Distributors’ Ken Allison sits down with Bill Harbeson, CPA/Manager at one of the largest accounting and consulting firms in the country, Cherry Baekert. Cherry Bekaert provides guidance and support that helps clients move forward to reach their organizational goals. They discuss the benefits and nuances of the 179D and how it can make a big impact our on your business.

In this podcast:

1:59 – What is the 179D tax credit?

8:00 – What’s necessary to qualify for the 179D tax credit?

21:47 – Who can claim the deduction for the building? How did the Inflation Reduction Act change this?

25:29 – What’s the best “bang for your buck” projects for insulators as it relates to this deduction?

29:00 – Which buildings are the best targets for this deduction?

30:45 – What if you own your own shop?

37:20  – What is Cherry Baekert’s role in helping contractors with 179D?

Undocumented Workers: Advice from Immigration Attorney Jorge Molina

According to Forbes, over 40% of the US construction workforce is expected to retire over the next decade. The fact is the construction industry faces a workforce shortage and according to Associated Builders and Contractors that shortage is up to 650,000 in 2022. This means every worker is critical including workers that came to our country looking for work. For many installation contractors, migrant workers fill key roles in the operation of their company. But the rules, regulations and liabilities around these practices can be confusing for workers and employers alike. We’ve invited immigration attorney Jorge Molina on the show to chat with IDI’s Business Development expert Ken Allison. They discuss the best practices to protect your employees and your company.

Jorge Molina is the founder of the J. Molina Law Firm in Arlington Texas. He has worked hard to protect and help build his clients’ American Dreams and prides himself in leveling the playing field for his clients. Whether defending someone facing deportation, or a company trying to expand its business.

In this podcast…

3:11 – What type of help are people looking for from an immigration attorney?

6:39 – The long road of immigration court

10:00 – The best advice to give to your undocumented workers

18:29 – “Can undocumented workers operate company equipment?” and other liability questions

21:09 – The importance of the worker’s perspective

25:04 – How business interests could be the key to solving the immigration crisis in the U.S.

The Inflation Reduction Act: Key Strategies For Finding Workers and Working With State Energy Offices

The Inflation Reduction Act is set to provide a lot of subsidies and other resources to contractors. But unless you know the details, you may not be able to maximize them for your business. That’s why we’ve invited Xavier Walter on the show to chat with IDI’s Business Development expert Ken Allison. They explain how you can get access to these benefits and how to best utilize them to hire and retain the best talent.

Xavier is the State Outreach Coordinator with the Building Performance Association. He is a certified energy auditor and contractor building science trainer for over 15 years in the home performance industry. He’s going to share some of his experience and how he built and ultimately sold his company by building a team of professionals, many who are still in the industry today. We discuss these rebates, how you can make sure your state actually takes advantage of them, and how to recruit, onboard, and retain workers by providing a clear career pathway.

For more on the Inflation Reduction Act Bill, read here: https://www.idi-insulation.com/what-does-the-inflation-reduction-act-mean-for-you-and-your-company/

In this podcast…

3:06 – Why this money is NOT a guarantee for contractors and what you can do about it

7:12 – What can you do to start adding labor for new construction projects?

12:45 – Training and wage subsidies options

15:59 – Thinking differently about what newer generations of workers want

23:28 – Rethinking employee benefits for better worker retention