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Overview

4.0 Credits

Taxation of homebuilding contractors has been subject to IRS scrutiny, particularly in complying with cost capitalization issues and revenue recognition and costing out units sold. Discuss precise approaches to comply with the costing rules, avoid IRS audit adjustments and the most beneficial tax result for the home builder/developer. An in-depth analysis of the tax accounting methods for homebuilding activities will be provided, including applying IRC Section 263A - Uniform Capitalization Requirements and IRC Section 461 - Economic Performance.

Objectives

  • Understanding the applicable revenue recognition and costing methods required for homebuilding activities

     

    • Designed For

    Internal CPAs and CPAs currently providing accounting and tax services to homebuilders; you will be able to assist the company with numerous planning techniques and provide advice on available elections and other tax saving considerations and accounting methods.

    Prerequisite

    Basic understanding of the tax accounting methods for long-term contracts

    Advanced Preparation

     
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