October 1, 2021
NASBP Pipeline published an article by Tax Partner James Lundy and Assurance Senior Manager Michael Varnell, about year-end tax planning for contractors: what to do before it’s too late.
NASBP Pipeline
By James Lundy, Partner, Tax & Business Services & Michael Varnell, Senior Manager, Assurance Services
Excerpt:
The look‐back analysis is an “as if” recalculation of a contractor’s taxable income based on the actual performance of completed jobs. There can be tax consequences in the form of taxable income and related interest for contracts that perform significantly better than originally estimated.
Click here to read a PDF version of the article >>
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