It’s tax time, which means companies nationwide will be getting ready to file their tax returns. As you prepare to meet with your accountant, here are some details to keep in mind.

J&J Drywall Inc., of Woonsocket, Rhode Island, pleaded guilty to cheating the Internal Revenue Service out of more than $2.8 million by paying workers in cash and not withholding appropriate taxes, federal prosecutors said.

Are you a contractor bidding on a job in a new state or city outside your home jurisdiction? Have you evaluated the state and local tax obligations—and opportunities—based on the project location? If the answer is no, your company’s chance to win the bid and stretch your profit margins could be negatively impacted.