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Common Tax Deductions for Construction Workers

Regardless of your trade in the construction industry, allowable tax deductions can lower your tax liability and possibly lead to getting a tax refund. You can deduct common expenses such as tools and materials, and even certain other items that come in handy in your business or on the job. 

If you’re an employee for a construction company, rather than an independent contractor, and your employer doesn’t reimburse you for expenses on the job, your unreimbursed employee expenses are no longer deductible. Independent contractors generally have no limit on the ability to deduct work related expenses. See the full TurboTax article for details so you can plan ahead.

Josh Downing is a 31-year-old general contractor who built a multimillion-dollar company in 2 years. How? By stumbling upon @Thumbtack, a platform that connects customers with professionals for any job they need done. While still working full-time, @jfdee signed up as a general contracting “pro” on Thumbtack. “I got lucky out of the gate and landed a $6,000 kitchen remodel… The rest is history.” Today, Downing runs his own construction business that employs 24 subcontractors and projects $5 million in sales for 2016. #MondayMotivation
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