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Critical Issues Involving Taxation of Construction Contractors Webinar

CPE

When
Oct. 7
1:00 - 5:00 p.m.

CPE Credits
4-Tax

Details

 Pricing

PICPA Member: $139 | Nonmember: $189


 More Information

Course No.
TCC4-2022-01-WEBNR-280-01
Level
Intermediate
Prerequisites
Previous experience in the construction industry or in providing service to construction clients
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

Many consider taxation of construction contractors to be the most complex area of the Internal Revenue Code. Probably no other industry has so many elections and considerations that need to be considered and made in order to reduce or defer amounts owed to the Internal Revenue Service. We will also discuss the impact of COVID-19 on construction taxation. This is a critical presentation “tailor-made” for CPAs who either work for or represent construction contractors.

Highlights

  • Learn what property is subject to IRC Sec 460
  • Understand how home builders and residential contractors are exempt from IRC Sec 460
  • Learn how to qualify for the “small contractor exemption” and its advantages to the taxpayer
  • Learn the various options that are available to the “small” contractor regarding taxation of long-term contracts
  • Discuss how the choice of entity impacts taxation of contractors
  • Learn how AMT impacts the construction industry
  • Learn about IRC Sec 460 and “large” contractors
  • Learn how “uninstalled materials” impact taxation of contractors
  • Learn how the “look-back” rules impact contractors
  • Learn how the “10% method” can allow certain contractors to defer recognizing taxable income
  • Learn critical tax planning strategies for contractors


Speaker(s)

William I. Eskin, CPA
President
WIE, Inc.

Bill is the owner of a consulting group, WIE, Inc.,in Baltimore, Maryland, that provides assistance in various accounting and financial fields including construction contractors and real estate developers. The firm's services include profit enhancement, forensic and fraud investigations, and expert witness testimony in the areas of GAAS compliance, SSARS compliance, and GAAP compliance, specifically related to identifying and proving CPA malpractice. Previously, Bill was the Director of Financial Analysis and Investigation for the world’s largest surety fidelity operation. There, he provided financial and accounting assistance, and advice to the underwriting and claims functions in addition to performing numerous forensic and fraud investigations related to employee dishonesty and other defalcations.

Bill is an annual speaker at the AICPA National Construction Conference, numerous state CPA societies, as well as many organizations related to GAAP, GAAS, and SSARS compliance. In addition, each year, he assists in the authoring and review of the AICPA annual Construction Audit Guide Update and Construction Contractors Industry Developments. Bill has recently authored and published Construction Contractors: Real-World Guide to Accounting & Auditing and Real Estate: Real-World Guide to Accounting & Auditing. In 2008, 2009, 2010, 2011, and 2013 Bill was a recipient of the AICPA's Outstanding Discussion Leader Award.


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