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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