Dean Willingham | November 26, 2019
Companies who do business in industries such as construction, manufacturing and real estate are heavily impacted by the new revenue recognition rules imposed by the Financial Accounting Standard Board (FASB), effective January 1, 2019 (for annual reporting – and in 2020 for interim periods). As these rules removed the ability to apply separate accounting rules to contractors, many companies may be unsure how best to proceed under the new rules. Read more. Read More
REDW | September 10, 2018
On December 22, President Trump signed the tax reform bill, “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018," into law, marking the largest change to U.S. tax policy since the 1980s.
With most of the provisions already in place, it is critical to understand the bill’s conference process and IRS regulations issued in 2018, as they will provide guidance on how to apply key provisions along with the intent of Congress in drafting the bill.
To help them navigate the key provisions affecting the real estate and construction industries, we’ve summarized the top considerations and industry implications below. Read more. Read More
Maureen McGetrick | April 16, 2018
Every type of industry is impacted by the bill known as the Tax Cuts and Jobs Act (TCJA), and the construction industry was not left out of the party.
However, the precise impact will depend upon the structure of the business and the nature of its operations. For construction businesses organized as C corporations, these are the most significant changes - Read more Read More
James Ortiz | March 16, 2018
New Mexico Governor Susana Martinez signed House Bill 245 on March 3, 2018, effective immediately. The main purpose behind this bill is to resolve the uncertainties that contractors have faced regarding cost segregation studies on construction for governmental entities, nonprofits, and industrial revenue bond projects. Read more. Read More