22WC-1075: Tax Issues for Real Estate and Homebuilding (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Tuesday, January 24, 2023
10:00am - 1:30pm Central Time
4 CPE (4 technical)
Taxation of homebuilding activities has been subject to IRS scrutiny; primarily in complying with cost capitalization issues and revenue recognition, including costing out for units sold. This program includes 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, avoid IRS audit adjustments, and obtain 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 recent tax reform
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
Who should take this program?
CPAs and tax professionals.
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