Published in Last Word
ACEC is working with Congressmen Blaine Luetkemeyer (R-MO), Mike Quigley (D-IL), Richard Hudson (R-NC), and Bradley Schneider (D-IL) to urge lawmakers to sign a bipartisan letter in support of preserving the cash method of accounting for engineering firms and other industries.
Draft tax reform legislation would only allow firms with less than $10 million in revenues and sole proprietors to use the cash method of accounting. Such a change would impose significant cash flow problems on many ACEC Member Firms because the vast majority of their costs are labor-related and must be paid before firms receive payment from their clients.
Click here by August 26 to access ACEC’s Legislative Action Center for more information and to urge your Representative to join the 180 who have already signed the letter. For more information, contact Katharine Mottley, ACEC’s Director of Tax and Regulatory Affairs.
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