Construction industry

With no technical corrections yet for the Tax Cuts and Jobs Act, many taxpayers are left wondering how to move forward with their 2018 returns.

The good news is that under the Tax Cuts and Jobs Act, QLI is superseded by QIP.

Not only does the cost of demolition increase the value of the land, but also the remaining basis of the building must be added to the land value at the time of demolition.

The Governmental Accounting Standards Board has issued guidance outlining the accounting requirements for interest costs incurred before the end of a construction period.

The offering follows on the heels of the release of the Commerce Edition, Field Services Edition and Manufacturing Edition.

Traditional cost accounting for mixed-use residential projects often does not properly allocate all construction costs to each section of the property.

A properly designed and implemented construction tax planning analysis will proactively identify tax savings related to new and planned construction projects.