In an effort to provide our clients and friends with the latest information relating to accounting and taxation, we provide the following resources, several are specific to the construction industry, for download.
Tax Planning Opportunities CARES ACT
On March 27, 2020 the President signed The Coronavirus, Aid, Relief and Economic Security Act (CARES Act). The CARES Act includes many tax provisions that are intended to put cash flow in the hands of individuals and businesses.
Tax Planning Opportunities for the Construction Industry
The 2020 updated summary offering in depth guidance and practical application materials as we work through implementation of the new regulations as information becomes available.
Rev Rec: Contract Abstract Analysis Tool
This analysis tool relates to ASC Topic 606 including certain criteria for an agreement to meet the definition of a contract. If all criteria are not met, the contract is not within the scope of ASC 606 and any consideration received would be recognized as a liability. Contracts can be written, oral, or implied.
Compensation / Salary Report
Iannuzzi Manetta, PAS, Inc., the source for construction industry salary and benefit benchmark data, and CICPAC, the CPAs Who Know Construction, partnered to develop the most comprehensive pay data available in the construction industry. The packet includes the following positions: Senior Project Manager, Senior Estimator.
Mobile Workforce Guidelines for Contractors
The construction industry depends on mobility and getting to where the
projects are located. This whitepaper presents information to analyze which methods provide the best result for your company as well as compliance tools.
Rev Rec: Using the Modified Retrospective Transition Method
This construction industry whitepaper discusses: defining the modified retrospective method, steps for implementation, documentation overview, and other guidance to help clarify this topic further.
Terminology & Concepts
We have compiled this Terminology & Concepts document to summarize the new terms as they relate to the old terms or to define what the new terms are referencing. Use in conjunction with the Revenue Recognition Implementation Guide.
Revenue Recognition Implementation Guide
Our comprehensive guide was released in August 2018. The guide isloaded with information on how the new standard(s) – ASC 606 (Revenue from Contracts with Customers) may affect your business.
Tax Planning Opportunities for Contractors
Summary offering in depth guidance and practical application materials as we work through implementation of the new regulations as information becomes available.
2020-2021 Year End Tax Planning Guide
This guide includes year-round strategies to make the tax laws work for you. Learn about important tax law changes and ways to minimize your income tax liability.