Taxation of homebuilding contractors has been subject to IRS scrutiny. Especially, in complying with cost capitalization issues and revenue recognition, particularly costing out for units sold. Participate in an in-depth analysis regarding tax accounting methods for homebuilding activities, including the application of IRC Section 263A-uniform capitalization requirements, and IRC Section 461-economic performance. This program will provide clear insights to approach compliance with costing rules, avoiding IRS audit adjustments, and obtaining the most beneficial tax results for the home builder/developer.
Walkthrough of costing methods and compliance issues under IRC 263A. Analysis of IRC 461 related to economic performance. Illustrative examples and analysis. Sample computations for homebuilder unit costing. Recent IRC 263A challenges by the IRS. Update of related cases and issues - including 2017 Tax Reform Act.
General knowledge of IRC 263A, and IRC 461.
CPAs and tax professionals.
Recognize the applicable revenue recognition and costing methods required for homebuilding activities. Determine appropriate accounting methods now available as a result of tax reform. Identify areas where tax deferral still exists, especially for small businesses.
Mr. Ristaino is a partner in a local firm and is Director of Accounting and Auditing and quality control. He has over 30 years experience in public accounting. He manages a diversified practice including construction and real estate, healthcare, manufacturing, governmental auditing (including single audit and HUD), transportation, travel, and not-for-profit organizations. He also has extensive experience in compliance auditing for both the public and private sector.
Mr. Ristaino has authored and presents numerous professional education programs around the country and is a former professor of tax law at Villanova and Philadelphia Universities. Gene is a member of the Peer Review Committee for the Pennsylvania Institute of Certified Public Accountants, and is a team captain for the Peer Review Program of the AICPA.
Non-Member Price $199.00
Member Price $149.00