Grand Rapids City Income Tax: Grand Rapids imposes a city income tax of 1.5 percent for residents and 0.75 percent for non-residents earning income in the city. Construction contractors must allocate revenue between Grand Rapids and non-Grand Rapids projects and withhold city taxes for employees working on city job sites. FinTruction tracks project-level revenue allocation to support accurate city tax calculations.
Michigan Construction Lien Act: The Michigan Construction Lien Act protects contractors, subcontractors, and suppliers working on Grand Rapids projects. Notice of Furnishing must be provided within 20 days, and liens must be recorded within 90 days of the last furnishing date. FinTruction maintains project-level accounting that preserves lien rights by tracking contracts, payments, and outstanding balances.
Davis-Bacon Prevailing Wage: Federally funded construction projects in Grand Rapids require Davis-Bacon prevailing wage compliance and certified payroll reporting. This includes healthcare projects receiving federal funding, infrastructure improvements, and government building construction. FinTruction prepares certified payroll documentation that meets federal audit standards.
Building Permits and Inspections: The City of Grand Rapids Community Development Department oversees building permits, plan reviews, and inspections. Contractors must track permit fees, inspection costs, and compliance expenses at the project level. FinTruction integrates these costs into your job costing system for accurate project profitability analysis.
Residential Builder Licensing: Michigan requires residential builders and maintenance and alteration contractors to be licensed through LARA. Grand Rapids residential builders must maintain proper licensing, insurance, and bonding. Our accounting systems track licensing fees, insurance premiums, and bonding costs as part of your overhead and compliance expense management.