Tax Accounting Methods for Long-Term Construction Contracts 

Webinar Recording

Tax law allows for several different accounting methods, cost allocations, and gross profit deferral opportunities to be applied when determining taxable income on a long-term construction project. These methods are different than GAAP and can allow for significant income deferrals for taxpayers.

The session provided an in-depth look at tax accounting methods for long-term construction contracts. As a result of participating in this session, you should be able to:

  • Describe the various tax accounting methods for long-term construction contracts
  • Have a working knowledge of the tax deferral computation
  • Explain the interplay with the look-back interest calculation