COR22103. Fundamentals of Construction Taxation

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