Tax and Lease Standards Update
Dec 9, 2021 - 10:00 AM (ET) - Spotswood Country Club Harrisonburg, VA
Hosted by Blue Ridge, Harrisonburg, VA
About this Event
Description:
With the change in administration, we are on the heels of what is expected to be another large tax reform/change that will be developing over the coming months. In addition, due to the pandemic, there are tax incentives available that contractors should know about and be evaluating on a quarterly basis. Lastly, we are on the heels of a lease accounting change that will impact the balance sheet of most, if not all, contractors. This lease accounting change will impact several vital ratios for contractors that financial institutions and sureties use in the underwriting analysis/process.
Learning Objectives
• Understand current 2021 tax law most significant to the construction industry and considerations moving forward with potential upcoming tax law changes
• Basic understanding of the various COVID tax relief options, including Employee Retention
• Understand the definition of a lease under ASC 842 and how to properly identify and classify
• Understand the underlying accounting, presentation and disclosure required under ASC 842.
Featured Speakers
Matt Smith, CPA, Principal
Matt joined YHB in 2008 after graduating from Radford University. At YHB, he has focused his efforts on providing assurance and consulting services to private companies in the construction and real estate industries. Through his active participation in industry trade associations and continuous industry specific training and education, Matt has obtained a wealth of knowledge and a deep understanding of these industries.
Kevin Branner, CPA, Principal
Kevin is a 1990 graduate of Randolph-Macon College. Since beginning his career at YHB in 1991, Kevin has been focused on helping construction companies, developers, real estate firms and other professional service firms maximize their financial success. He is highly experienced in delivering a broad range of accounting and business advisory services. Through his active participation in various construction trade associations, he has developed a keen understanding of industry trends and issues.