The Evolving Opportunity Zone Landscape for Advisors

Overview

The construction industry faces many unique challenges to survive and remain profitable. These include specific accounting and reporting aspects for construction contracts and estimating project costs and profitability. Analyze revenue recognition under the percentage of completion method (including comparing current standards to the new FASB revenue standard) by exploring the underlying details. Reduce potential errors made using established concepts, including the shortfalls of the “cost to cost” method. Take a focused look at construction contractors’ accounting, reporting and auditing. Discuss techniques and examples that provide a realistic audit approach for the contractor, including detailed auditing procedures for many types of contracts.

Highlights

Prerequisites

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Objectives

• Identify the purpose and structure of the Qualified Opportunity Zone program.
• Recognize key tax benefits and deferral mechanics of Qualified Opportunity Fund investments.
• Identify planning considerations related to reinvestment timing and 2026 gain recognition.
• Recall core compliance, reporting, and state conformity considerations.

Notice

This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Online Self-Study.