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.

This session will review and analyze recent developments related to real estate and partnership tax legislation, including pending proposals and their likelihood of enactment. The discussion will evaluate the potential impact of recent and proposed tax legislation on real estate ownership, investment, and development. In addition, the session will consider the outlook and prospects for major changes in tax policy going forward that could impact real estate in the years ahead. Topics will include: new, energy-related tax incentives; potential tax incentives for property conversions; the pending expiration of provisions in the Tax Cuts and Jobs Act, such as the section 199A pass-through business income deduction; and proposed changes related to capital gains, like-kind exchanges, and carried interest.

This session is intended to address the requirements of Lease Accounting Standard (ASC 842) and provide practical implementation considerations.

This session is an opportunity to interact with leaders in the construction tax arena. Attendees will gain: - A review of current trends and developments impacting the construction tax industry - Insights from a detailed discussion on tax topics presented in earlier sessions - The opportunity to participate in Q&A on topics important to their company and/or practice - Discussion and impact to construction contractors of proposed, or enacted, tax legislation for 2022

Considering COVID's effect on the Commercial Surety Market, Material Price Escalations, Infrastructure Bills, and Economic Indicators the Surety Industry is dealing with many uncertainties now and in the future. Industry leaders from both the Surety Company and Surety Agent side will provide insight into what is expected in the coming years in this dynamic panel discussion.

This session will cover many of the ways real property can be transferred in tax-efficient transactions that provide liquidity.

Participants will learn (1) to identify scenarios in which real property transactions can be structured to avoid triggering taxable gain and (2) to determine ways to advise clients of the various federal income tax law requirements for tax deferral in those scenarios.

During this session, financial executives representing construction contractors of varied sizes and industries will be focused on:

1. What CFO’s are doing right now to deal with current risks and opportunities,

2. Disruption in construction end markets such as those related to oil production and transportation,

3. The continuing skilled labor shortage, and technology steps that are being deployed to real benefit.

This session will focus on the following:

State of the CRE Industry from the CFO Perspective:

* How do the upcoming changes in tax policy, inflationary concerns,
interest rates, health policy, climate change, and other regulatory
developments impact your priorities and strategy for your firm?
* A recent study indicated 2/3's of all CRE investment firms are
hiring and challenged with labor shortages - are you seeing this same
trend and how are you attracting and retaining talent within your
departments or the firm in general?
* Is the industry focus on climate change impacting your firm,
reporting, investment strategy, financing strategy or other aspects of
your firm?
* Discuss your firms capital sources and whether there are concerns
with respect to recent investment trends from foreign investors into
US CRE?
* Comment on which asset classes will face the biggest headwinds in
2022 and which sectors, and markets are primed for growth?

How has the current environment, inflation and rising interest rates changed the way you think about
the following:

* Risk – diversification geographically & by property type, tenant
concentration, etc.
* Innovation and Technology
* Next year’s forecast

ESG – how do we measure value / progress and how / does it make a
difference for your company? How is it changing?

* Sustainability
* D&I
    * Governance
    * Other

Standardizing Transparency & Efficiency in Investor Reporting

    * What reporting challenges are you facing as your firm grows and/or
evolves its business strategy?
    * What are the latest trends in reporting standards?

    * Are investors demanding enhanced reporting capabilities and
transparency?

    * Does this vary based on investment strategy, risk profile
(value-add, development, core)?

    * How have you been utilizing technology to optimize reporting and/or
organizational capabilities?
    * What opportunities exist to improve budgeting and reforecasting?
Which systems, processes, teams and best practices do you have in
place now, and how do you expect those will change?

There are a dizzying array of technologies coming into the construction industry and many can provide enormous benefits. But most construction-related companies do not have the internal expertise to effectively evaluate, procure, pilot, and then wisely scale these new tools into their operations. So, success is often elusive and the process can be costly and frustrating. Dodge Data & Analytics has been studying the deployment of technology in construction for many years. Steve Jones, Senior Director of Industry Insights Research for Dodge will share his perspective on the current state of technology, what the most important emerging trends are, and how AICPA members can help to guide clients on their journeys of digital transformation.

Compare and contrast audit vs. review procedures for contractor clients, focusing on WIP analysis and other common contractor-related financial statement considerations.