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Surgent's Critical Issues Involving Taxation of Construction Contractors

 Various
 
4.0
Registration is Open
Member Price
$159.00 Regular Registration
Your Price
$167.00 Regular Registration
This course is being offered on multiple dates, listed below. Click the Register button next to your preferred date to register.
 Tue, 06/17/2025 from 9:00 am to 12:30 pm
 Thu, 07/24/2025 from 1:00 pm to 4:30 pm
 Thu, 09/04/2025 from 9:00 am to 12:30 pm
 Fri, 10/03/2025 from 1:00 pm to 4:30 pm
 Fri, 11/07/2025 from 1:00 pm to 4:30 pm
 Thu, 12/18/2025 from 9:00 am to 12:30 pm
 Mon, 01/12/2026 from 1:00 pm to 4:30 pm
Designed For:

CPAs who either work for or represent construction contractors who are looking for ways to reduce taxable income

Prerequisite:

Previous construction industry experience

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. In this course, we will highlight these areas and discuss potential opportunities for practitioners and their clients. We will also discuss the impact of more recent legislation on construction taxation, including changes to net operating losses and the AMT rules. This is a critical presentation "tailor-made" for CPAs who either work for or represent construction contractors.

Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate

This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by Surgent McCoy.

Objectives

  • Recognize the impact recent tax legislation has had on the construction industry
  • Identify when the cash method of accounting may be used for long-term contracts
  • Recall the authoritative source of the Internal Revenue Code (IRC) impacting the construction industry in general and long-term contracts in particular
  • Recognize how the IRC impacts specialized sectors of the construction industry, such as homebuilders and residential construction
  • State how a contractor qualifies for the small contractor exemption and the advantages it presents the contractor
  • Recognize the different methods of income recognition from long-term contracts available when the contractor qualifies for the small contractor exemption
  • Identify the qualifications for the 10 percent deferral election
  • Identify the major differences regarding cost capitalization rules between U.S. GAAP, exempt contracts, and nonexempt contracts
  • Recognize the five basic rules concerning cost allocation for tax purposes
  • Recognize how the alternative minimum tax impacts the construction industry
  • Identify ways to reduce the impact of the alternative minimum tax
  • Recognize the issues involved with the “look-back” provisions
  • Recognize the issues involved in determining a worker’s status as an employee or independent contractor and how this determination impacts the construction industry
  • Recognize the key provisions of “FIN 48” and how it specifically impacts the construction industry
  • Identify the most commonly missed tax strategies for contractors

Speakers

Advanced Preparation

None

Vendor

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.