Tax Issues for Construction (LIVESTREAM) (LITX06/20)
October 23, 2019 @ 1:00 pm - 2:40 pm| $80
Construction contractors are like any other tax client–except when it comes to determining income. (Not to mention best cost recovery options). Add all the usual issues with any owner-managed business and providing tax services to construction contractors is a recognized specialty.
Lynn Nichols, CPA. has served construction clients and presented CPE on the specialized tax rules to which they are subject since 1978. Bring your toughest questions to this program and go back to your office with answers.
In this program, Lynn will:
– Review the IRS Audit Guide for Construction Contracts, and recent changes
o Percentage of Completion
o Completed Contract
– Address recent changes in the law affecting Construction Contractors
o Cash vs Accrual
o $25 million threshold for application of some rules
o New Section 199A
o New Section 163(j) Limitation on Business Interest
o New Section 461(l)(1)(B) Excess Business Loss Limitation
E. Nichols, CPA