American Institute of CPAs

Recall basics on accounting for construction contracts, including change orders and job cost allocations.
Recognize how to audit construction contractors, including risk assessment considerations and understanding risks associated with construction contractors.
Identify key accounting and financial statement issues facing construction contractors and apply best practice considerations.

Speaker(s):

Russell J. Rigler, CPA, Principal, CLA
John Bowman, Audit Partner, H&Co LLP

Tags:

Construction

Category: Pre-Conference Optional Workshops Additional Fee

Fundamentals of Construction Taxation

Dec 7, 2022 8:00am ‐ Dec 7, 2022 12:00pm

Identification: COR22103

Fundamentals of Construction Taxation will cover the unique income tax issues surrounding construction contractors. We will cover practical and real life examples in a manner that allows easy understanding of the basic concepts and relevant issues encountered by contractors including: identifying long-term contracts, income recognition under the percentage of completion method, other accounting methods available, other exempt long-term contracts, cash vs. accrual methods of accounting, the application of look-back interest, alternative minimum tax issues, and the qualified business income deduction under 199A.

Learning Objectives:

Recognize the basics of tax accounting concepts and methods available for construction contracts
Identify significant book (GAAP)/tax difference inherit in accounting for construction contracts
Recognize pit-falls and tax planning opportunities available to construction contractors

Speaker(s):

Dee Estep, CPA, Tax Principal, CLA
Nic Waldenmayer, Partner, Eide Bailly LLP

Tags:

Construction

Category: Pre-Conference Optional Workshops Additional Fee

Partnership Tax Update

Dec 7, 2022 8:00am ‐ Dec 7, 2022 12:00pm

Identification: COR22104

This Partnership Tax Update workshop will be split into two parts: * Part 1: Schedules K-2 and K-3 Lessons Learned | Speaker(s): Fran Randall and Iris Laws | 8:00am-10:00pm MT * Part 2: Partnership BBA Audit and Adjustment Update | Speakers: Rochelle Hodes and Brian Myers | 10:00am MT-12:00pm MT

Learning Objectives:

Identify recent tax changes impacting partnership clients.
Determine how to apply these changes to the benefit of their clients.

Speaker(s):

Rochelle Hodes, J.D., LL.M. (Taxation), Principal, Crowe LLP
Brian Myers, CPA, Partner, Crowe LLP
Iris Laws, Manager, FORVIS
Fran Randall, MST, CPA, Partner - Richmond Market and ITS Core Service Leader, Forvis

Tags:

Real Estate

Category: Pre-Conference Optional Workshops Additional Fee

Real Estate - Valuation Process

Dec 7, 2022 1:00pm ‐ Dec 7, 2022 5:00pm

Identification: COR22102

In this session we will provide an in-depth overview of the valuation process including a general market overview, a discussion of the commonly-used valuation methodologies, and discuss various case studies in applying these approaches to value to various asset classes. Throughout the discussion, we will examine common themes and terminology and take questions from the audience.

Learning Objectives:

Recognize valuation concepts related to real estate touching on general concepts and methodologies and application in the valuation of standard and non-standard property types.
Identify capital sources and pricing dynamics.
Determine how to leverage a case-study for application of these methodologies in valuation for tax and financial reporting.

Speaker(s):

Brett M. Johnson, MAI, MRICS, Principal, EY
Andrew Alperstein, CPA, Partner, PWC
Joanna Acosta, Senior Manager, EY

Tags:

Real Estate

Category: Pre-Conference Optional Workshops Additional Fee

Strategies to Attract and Retain Top Talent in 2023

Dec 8, 2022 4:00am ‐ Dec 8, 2022 5:15am

Identification: COR2202

With explosive inflation, talent shortages, turnover, and escalating labor costs this year, attracting and retaining top talent has never been more difficult. By studying what we’ve been through, and trends on the horizon, we may have the chance to “reset” hiring and compensation strategies for years to come, and improve results. This session will explore both successful, and not so successful, hiring processes and compensation programs that impact your success in attracting and retaining talent. We’ll also explore pay practice research, trends, and strategies, as well as hiring processes, that can make a positive impact in attracting and retaining top performers.

Learning Objectives:

Identify current market trends that affect your overall compensation program and how they impact our mission to recruit, retain, and engage. Identify pay trends and what to look for as trigger points on escalation and eventually stagnation issues. Hear what your next round of pay increases need to be to stay competitive.
Analyze those behaviors that sabotage pay program effectiveness, including pay compression and the negative impact on your employee and company’s well being
Determine how to handle compensation conversations with potential candidates throughout the hiring process, understand how to interpret candidate behavior, and avoid wasting valuable time and energy.
Differentiate motivators of top performers, how to pay them, and how to attract them.
Distinguish how your employer brand can make or break your success in attracting top performers.

Speaker(s):

Jeffrey Robinson, President, PAS, Inc.

Tags:

Construction

Category: Concurrent Session Onsite and Online

Tax Methods

Dec 8, 2022 5:45am ‐ Dec 8, 2022 7:00am

Identification: COR2205

This session will explore the various methods of accounting available to both large and small construction contractors.

Learning Objectives:

Differentiate small contractor v. large contractor definitions in the IRS code
Analyze the tax methods of accounting available to various type of contractors.

Speaker(s):

Sarah Windham, Partner, Forvis

Tags:

Construction

Category: Concurrent Session Onsite and Online

Return to Work - Office Redesign

Dec 8, 2022 5:45am ‐ Dec 8, 2022 7:00am

Identification: COR2233

How design needs to support the future of work.

Learning Objectives:

Identify why workplaces are even necessary anymore
Analyze new space types and ways of working

Speaker(s):

Robert Mankin, Partner, NBBJ
Brett Hautop, AIA, Founding Partner, Workshape

Tags:

Construction

Category: Concurrent Session Onsite and Online

Welcome Remarks | Keynote - No Time to Buy

Dec 8, 2022 7:50am ‐ Dec 8, 2022 8:50am

Identification: CORK2201

This presentation will supply in-depth analysis of the major factors shaping economic outcomes, including elevated inflation, lingering pandemic, worker shortages, war in Europe, rising interest rates, and stepped up infrastructure spending. It will then turn toward a forecast for the year to come: Is there more growth in our future, or is another recession on the way?

Learning Objectives:

Recognize the manner in which COVID-19 impacted global, national, and regional economies.
Identify likely long-term structural shifts impacting key economic segments.
Indicate several sources of future economic risk.
Identify the likely pace of economic recovery in 2022 and beyond.

Speaker(s):

Dr. Anirban Basu, JD & PhD, Chairman and CEO, Sage Policy Group,Inc.

Tags:

Real Estate

Category: Conference Keynote Onsite and Online

ARSC Update: Reviews, Compilations and Financial Statement Preparation Engagements

Dec 8, 2022 8:00am ‐ Dec 8, 2022 9:15am

Identification: COR2207

This session is intended to provide guidance related to requirements and best practices for reviews, compilations, and financial statement preparation engagements. In addition, we will cover areas where there is diversity in practice and confusion. We will also address current ARSC activities.

Learning Objectives:

Analyze current ARSC activities
Identify guidance related to requirements and best practices for reviews, compilations, and financial statement preparation engagements

Speaker(s):

Michael A. Westervelt, CPA, Principal - National Assurance, Construction, CLA

Tags:

Construction

Category: Concurrent Session Onsite and Online

State PTE Elections - Validating the Opportunity

Dec 8, 2022 8:00am ‐ Dec 8, 2022 9:15am

Identification: COR2211

A major component of the 2017 _Tax Cuts and Jobs Act_ (TCJA) was the $10,000 limit on the state tax deduction (SALT Cap) for individual income tax return purposes. Since the TCJA’s passing, states have been looking for workarounds to provide income tax relief for individuals. The IRS disallowed many of the state workarounds that have been proposed but approved the pass-through entity-level tax election with the release of Notice 2020-75. The state PTE is effective because the SALT Cap is applicable for only individual income tax purposes. With the state PTE election, pass-through entity taxpayers, such as partnerships and S corporations, can elect to pay state income taxes at the entity-level return rather than on the personal income tax returns of the individual partners and owners. This treatment can circumvent the SALT Cap. This session will provide an overview of states that have implemented a PTE election and desribe the various nuances of the election from state to state. Further, it will describe when the PTE election can be a tax savings opportunity as well as considerations of when PTEs should be cautious with regards to the election.

Learning Objectives:

Analyze which states allow for PTE elections and how those elections differ from state to state.
Determine when an election could be valuable as opposed to when it might be detrimental to certain PTE owners.

Speaker(s):

Jack Small, Partner, Tax, FORVIS