The knowledge you need

Atlanta area construction companies face a steady stream of financial demands. Cash flow, reporting, compliance, and decision-making all depend on accurate, timely accounting information. In construction, that work often involves more moving parts than general business accounting, including job costing, billing schedules, and changing project conditions. At the same time, many companies are finding it harder to build out a full in-house accounting function. As hiring remains competitive, outsourced accounting has become one way to fill the gaps.

The One Big Beautiful Bill Act (OBBBA) restored 100% bonus depreciation on a permanent basis for qualified property acquired after January 19, 2025. That change is especially important for businesses that make capital investments, including equipment purchases, facility improvements, and construction projects. Later, the IRS released Notice 2026-11 to explain how taxpayers can apply the revised rules. For business owners, the guidance clarifies the timing rules, elections, and other details that can affect eligibility and help businesses maximize the benefit of bonus depreciation.

On February 20, 2026, the Supreme Court ruled that the federal government could not use the International Emergency Economic Powers Act (IEEPA) to impose tariffs. The 6-3 decision invalidates the tariffs that took effect in early 2025 under that law. The decision applies only to tariffs created under IEEPA. It does not change tariffs enacted under other statutes, including those on many building materials. Construction companies still face those costs.

The IRS has finalized instructions for Form 6765, the form businesses use to claim the federal R&D tax credit under Section 41. The credit rules have not changed, but the updated form requires more detail across key areas, with staggered implementation dates. The IRS says the added disclosures are intended to increase transparency and help identify higher-risk claims. For business owners, the R&D tax credit is still a valuable opportunity; however, the updated form will likely require more careful record-keeping and coordination.

Georgia’s 2026 legislative session began on January 12 and runs for 40 legislative days. Lawmakers are deciding how to use about $14 billion in reserves and surplus funds. Proposals on the table include another round of taxpayer rebates, income tax cuts, new limits on property tax increases, and changes to sales tax exemptions for data centers. The outcome will affect what residents and businesses pay in taxes and what resources the state has to fund services. To help clients, prospects, and others, Wilson Lewis has summarized the key details below.

The IRS has released Notice 2026-11, clarifying how 100% bonus depreciation works under the One Big Beautiful Bill Act (OBBBA). The interim guidance outlines the timing rules, available elections, and the types of property that qualify now that the full deduction is back in place. These issues are particularly important for any business investing in equipment, upgrading facilities, or managing multi-year projects. This guidance will ensure businesses can take full advantage of this compelling tax savings tool.

Atlanta small-business owners are operating in a demanding environment. Costs are unpredictable, hiring is competitive, and many industries are working with tighter margins than just a few years ago. In that context, the CPA relationship often goes beyond filing and compliance. Business leaders rely on clear answers, timely turnaround, and guidance that supports better decisions throughout the year.

Outsourced accounting is moving from the margins into the mainstream. A recent survey found that 45% of middle-market companies now outsource some or all of the accounting function, a sharp increase from 2022, when most respondents said they had not even looked into it. Smaller businesses are heading in the same direction as leaders see the benefits of more consistent reporting, access to specialized expertise, and relief from ongoing hiring pressure. As interest grows, many Atlanta business leaders want a better picture of what outsourced accounting includes and when it might make sense for the organization.

The Treasury Department and the IRS have released proposed regulations that explain how a new federal income tax deduction for car loan interest will work and how lenders will be expected to report that interest. The proposal would allow eligible taxpayers to deduct up to $10,000 of qualified passenger vehicle loan interest each year and would create information reporting rules for businesses that receive at least $600 of interest in a calendar year on specified passenger vehicle loans from individuals.

Sponsoring a 401(k) plan provides meaningful value to employees, but it also requires employers to demonstrate each year that the plan is working as intended. Nondiscrimination testing is the primary way the IRS evaluates that performance, checking whether contributions and participation patterns are balanced between highly compensated employees (HCEs) and everyone else. For plan sponsors, a clear understanding of these tests can support compliance and plan design decisions.