Recognize issues that can affect the year-end tax planning process for construction contractors.
Many construction contractors are meeting with their accountants to discuss year-end tax planning issues. This topic will assist the owners and accounting personnel of construction companies with how to recognize issues that can affect the year-end planning process. This topic will also discuss recurring issues that construction contractors encounter including choice of entity and choice of accounting methods. In addition, a discussion of general sales tax issues will occur to help the construction contractors recognize issues that state sales tax auditors are targeting.
Learning Objectives
- You will be able to describe how to choose the correct entity to use.
- You will be able to identify general sales tax issues.
- You will be able to discuss employee expense reimbursements.
- You will be able to review accounting methods.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Employee Expense Reimbursements
- Actual Expenses
- Per Diems
Choice of Entities
- Corporations
- Partnerships
- Limited Liability Companies
- Joint Ventures
Accounting Methods
- Code Section 460
- Retainage Receivables and Payables
- Section 263A
- When Is a Job Considered Closed
General Sales Tax Issues
- Time and Material V. Lump Sum Contracts
- Importing Materials From One State to Another
- Tax-Exempt Jobs
Current Tax Topics
- State Passthrough Entity Taxes
- Bonus Depreciation
- Beneficial Ownership Information Reporting
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 5, 2023.
Call 1-866-352-9540 for further credit information.
- AK ENG 1.0
- This Ondemand program is applicable for professional development hours through the Alaska State Board of Registration for Architects, Engineers and Land Surveyors. Professional development hours: 1.0.
*Please check the rules and requirements in your state for compliance.
- AL ENG
- This Ondemand program is applicable for professional development hours through the Alabama Board of Licensure for Professional Engineers and Professional Land Surveyors.*
*Please check the rules and requirements in your state for compliance.
- AR ENG
- Lorman Business Center, Inc. is an approved sponsor of professional development hours with the Arkansas State Board of Registration for Professional Engineers.
- FL ENG 1.2
- This course has been approved for 1.2 PDHs by the Florida Board of Professional Engineers in the Areas of Practice.
- GA ENG
- This Ondemand program is applicable through the Georgia State Board of Registration for Professional Engineers.for 1.0 professional development hours.*
*Please check the rules and requirements in your state for compliance.
- IA ENG
- This Ondemand program is applicable for professional development hours for engineers. Please refer to Chapter 3, 193C IAC.*
- ID ENG 1.0
- This Ondemand program is applicable for 1.0 professional development hours through the Idaho Board of Professional Engineers and Professional Land Surveyors.*
*Please check the rules and requirements in your state for compliance.
- IL ENG 1.0
- This program is applicable for 1.0 professional development hours through the Illinois Society for Professional Engineers.*
*Please check the rules and regulations in your state for compliance.
- IN ENG 1.2
- This Ondemand program is applicable for 1.2 professional development hours through the Indiana State Board for Professional Engineers.*
*Please check the rules and requirements in your state for compliance.
- KS ENG 1.0
- This program is applicable for 1.0 professional development hours for engineers.*
*Please check the rules and regulations in your state for compliance.
- KY ENG 1.0
- This Ondemand program is applicable for 1.0 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- LA ENG
- The Louisiana Professional Engineering and Land Surveying Board (LAPELS) no longer approves providers or courses. Lorman Education Services believes that this course is worth 1.0 PDH(s). According to LAPELS' rules, It will be the responsibility of the licensee to determine if a Course/Activity offered by an unapproved sponsor/provider is an Acceptable Activity.
- MD ENG 1.0
- Lorman Education Services is a board approved sponsor with the Maryland Board of Professional Engineers. This course qualifies for 1.0 professional development hours.
- ME ENG 1.0
- This ondemand program is applicable for a maximum of 1.0 hours toward the annual PDH requirement. Please note: The State of Maine Professional Engineers Registration Board does not pre-approve courses for professional development credit.*
*Please check the rules and requirements in your state for compliance.
- MN ENG 1.0
- This course is applicable for a maximum of 1.0 hours toward the PDH requirement for engineers. Please note: The Minnesota State Board of Registration for Engineers has final authority on the acceptance of individual courses.
- MO ENG 1.5
- This ondemand course is applicable for 1.5 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- MS ENG
- This ondemand course is applicable for professional development hours through the Mississippi State Board of Registration for Professional Engineers.*
*Please check the rules and requirements in your state for compliance.
- MT ENG 1.0
- This ondemand course is applicable for 1.0 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- NC ENG 1.0
- This program may qualify for up to 1.0 professional development hour(s) for engineers. Please note: The North Carolina Board of Examiners for Engineers and Surveyors does not require that licensees take their CE from a Board approved Sponsor. The onus is on the licensee to make the determination of whether a course or activity has a purpose or objective which will maintain, improve, or expand the skills and knowledge relevant to the licensee's field of practice.
- ND ENG 1.0
- The North Dakota State Board of Registration for Engineers and Land Surveyors does not pre-approve courses or providers.
This course may be applicable for professional development hours in your state. Please check your rules and requirements for compliance.
- NE ENG
- This course is applicable for professional development hours for engineers if the course is continuing engineering education for you..*
*Please check the rules and requirements in your state for compliance.
- NH ENG 1.0
- This course is applicable for 1.0 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance. The New Hampshire Board of Engineers has final authority on granting approval.
- NJ ENG 1.0
- This course has been approved by the New Jersey Professional Board of Engineers and Land Surveyors for 1.0 professional development hours.
- NM ENG 1.0
- This course is applicable for 1.0 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- NV ENG 1.0
- This course is applicable for 1.0 professional development hours through the Nevada State Board of Engineering and Land Surveyors.*
*Please check the rules and requirements in your state for compliance.
- OH ENG
- This ondemand course is applicable for continuing education credit for engineers through the Ohio State Board of Licensure for Professional Engineers provided it is a relevant managerial, ethical or technical topic relevant to the practice of engineering or surveying.*
*Please check the rules and requirements in your state for compliance
- OK ENG
- This course is applicable for professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- OR ENG
- This course is applicable toward engineering continuing education hours in Oregon, please refer to your rules and laws.
- PA ENG 1.2
- This program is applicable for 1.2 PDHs for engineers through the Pennsylvania State Board of Professional Engineers, Land Surveyors and Geologists.*
*Please check the rules and requirements in your state for compliance.
- SC ENG 1.0
- This course is applicable for 1.0 hours toward the PDH requirement for engineers through the South Carolina Board of Registration for Professional Engineers.*
*Please check the rules and requirements in your state for compliance.
- SD ENG
- This course is applicable for professional development hours for engineers in South Dakota.*
*Please check the rules and requirements in your state for compliance.
- TN ENG
- This course is applicable for professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- TX ENG
- This Ondemand course is applicable for professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- UT ENG
- This course is applicable for professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- VA ENG 1.0
- This program is applicable for 1.0 hours of continuing education through the Board for Architects, Professional Engineers, Land Surveyors, Certified Interior Designers and Landscape Architects (APELSCIDLA BOARD).*
*Please check the rules and requirements in your state for compliance.
- VT ENG
- This course is applicable for professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- WI ENG 1.0
- This course is applicable for a maximum of 1.0 hours toward the PDH requirement for engineers.*
*The Wisconsin Engineer Section has final authority on the acceptance of individual courses and providers.
- WV ENG 1.0
- This course is applicable for 1.0 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- WY ENG 1.2
- This course is applicable for 1.2 professional development hours for Wyoming engineers.*
*Please check the rules and requirements in your state for compliance.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Jolaine L. Hill, CPA
Rosen, Sapperstein & Friedlander, LLC
- Manager at Rosen, Sapperstein & Friedlander, LLC
- Responsible for tax compliance, areas of specialization include construction contractors, not-for-profits, and high net worth individuals
- Conducts seminars and workshops on a variety of topics that include construction contractor issues, not-for-profit issues, and tax compliance for high-net-worth individuals
- Member of the American Institute of Certified Public Accountants, Indiana CPA Society, and MACPA
- B.S. degree, with honors and distinction, Indiana University
- Can be contacted at 410-998-2148 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
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- State Specific Credit Tracker
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