The Payroll Protection Program (PPP) loans have raised many questions regarding the financial statement presentation. The AICPA has issued guidance on accounting for the forgivable PPP loans. We will address the options available to practitioners and their clients to account for these loans as they apply for the loan forgiveness. In additional, we will discuss the tax implication related to the accounting treatment.

Objectives:

• Understand the AICPAs Technical Question and Answer (TQA) 3200.18  Borrower Accounting for a Forgivable Loan Received Under the Small Business Administration Paycheck Protection Program.
• Address the impact of the accounting options for the PPP forgivable loan.
• Review the treatment of the PPP loan at various interim and year end periods.
• Understand how tax implications of the various accounting options and how to plan accordingly.

If you are watching in a group setting, please read this Help Instruction Guide to help you redeem your group code.

This program is free to all CICPAC members, and is appropriate for staff accounting personnel at all levels.

Field of Study: A&A
Level: Basic
Prerequisite: None
Advanced Preparation: None
Recommended CPE Credit: 1

For further information and administrative policies contact:
Executive Director: Kathleen Baldwin – 1-800-864-0491 - kbaldwin@cicpac.com

Construction Industry CPAs/Consultants Association (CICPAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

During this session we will discuss and review the current outlook of the construction surety marketplace. We will address the impact of COVID-19 on the underwriting appetite of surety companies across all construction disciplines including both prime contractors and subcontractors building both public and private projects. We will also provide insight into the surety industry’s  thoughts and impact from the implementation of revenue recognition.

Objectives:

• Learn where the surety market stands in light of the current economic environment
• Gain an understanding on how the COVID-19 pandemic is impacting the surety market
• PPP loans – the surety view
• Communication strategies with your client’s sureties
• Sharing more of your tools with the surety
• Being the extension of the C-Suite in partnering
• Latest Surety Association results
• Sureties perspective of the implementation of revenue recognition
• Bond alternatives - Subcontractor Default Insurance current market status
  

If you are watching in a group setting, please read this Help Instruction Guide to help you redeem your group code.

This program is free to all CICPAC members, and is appropriate for staff accounting personnel at all levels.

Field of Study: Special Skills
Level: Basic
Prerequisite: None
Advanced Preparation: None
Recommended CPE Credit: 1

For further information and administrative policies contact:
Executive Director: Kathleen Baldwin – 1-800-864-0491 - kbaldwin@cicpac.com

Construction Industry CPAs/Consultants Association (CICPAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

During this webinar, we will discuss the multitude of tax related issues contractors faced and may be face with regarding Round 2 of Tax Cut and Jobs Act (TCJA) as well as tax issues arising out of the CARES Act.

• Provide overview of aspects of TCJA as it may have impacted the contractor.
  
• Review the many moving parts of TCJA that contractors had to address.
• Discuss various tax planning opportunities that are presented for the Contractor.
  
  • A) entity selection
    
  • B) tax accounting methods
    
  • C) tax deferral opportunities
    
• Discuss selective provisions of the CARES Act that may impact the Contractor.
  
  • A) business and individual tax aspects
    
  • B) PPP loan forgiveness and income taxes
    
  • C) employer credits and deferral

If you are watching in a group setting, please read this Help Instruction Guide to help you redeem your group code.

This program is free to all CICPAC members, and is appropriate for staff accounting personnel at all levels.

Field of Study: TAX
Level: Basic
Prerequisite: None
Advanced Preparation: None
Recommended CPE Credit: 1

For further information and administrative policies contact:
Executive Director: Kathleen Baldwin – 1-800-864-0491 - kbaldwin@cicpac.com

Construction Industry CPAs/Consultants Association (CICPAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

2020 CICPAC Annual Meeting

COVID-19 has rocked what had appeared to be a nearly invincible economy; one associated with substantial job growth, multi-decade lows in unemployment, sturdy compensation increases, robust retail sales, low inflation, and strong financial market performance. Underneath that strong performance, however, was a set of fragilities that have been exposed by the pandemic.

Webinar attendees will gain an understanding of:

• Learn about our current economic circumstances
• Hear about how difficult things are likely to bcome over the foreseeable future
• Learn about the contours of the brisk recovery to come thereafter

If you are watching in a group setting, please read this Help Instruction Guide to help you redeem your group code.

This program is free to all CICPAC members, and is appropriate for staff accounting personnel at all levels.

Field of Study: Economics
Level: Basic
Prerequisite: None
Advanced Preparation: None
Recommended CPE Credit: 1.25

For further information and administrative policies contact:
Executive Director: Kathleen Baldwin – 1-800-864-0491 - kbaldwin@cicpac.com

Construction Industry CPAs/Consultants Association (CICPAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

In the time of Coronavirus decisions relating to cash flow have become more critical. The importance of cash flow is affecting business decisions surrounding when to accelerate deductions through Cost Segregation or 179D. At the same time the CARES Act fixed the QIP “retail glitch” and allowed for increased NOL carrybacks. To allow for these changes the IRS issued new 3115 requirements through Rev Proc 2020-25. This presentation will help businesses and CPAs evaluate how to maximize cash flow by understanding these changes.

Webinar attendees will gain an understanding of:

• How to determine when maximizing cash flow makes sense
  
• Changes to QIP under the CARES Act
  
• How to address these changes through 3115’s and amended returns as addressed in Revenue Procedures over the last year
  

In addition to the content above, we will take about 15-20 minutes to discuss the questions we are seeing with the PPP loan forgiveness application.

This session will present the most probable recovery trajectories for the US construction industry post COVID-19. It includes identification of the markets and segments that will lead or lag over the next several years. More importantly, this session will highlight strategic lessons learned and mistakes to avoid in times of heightened uncertainty, including adapting to a reinvented Built Environment.

Webinar attendees will gain an understanding of:

• Think beyond the present disorder
• Prepare for multiple demand scenarios
• Identify potential growth opportunities
• Avoid costly mistakes
  

During this webinar you will learn about ways to securely work remotely.

Webinar attendees will gain an understanding of:

• Current threat landscape and cybersecurity trends related to COVID-19 pandemic
  
• How attackers leverage the “human factor” in social engineering campaigns
  
• Best practices regarding passwords and authentication
  
• Considerations and best practices for remote workforce

This webinar is designed to offer our member firms two perspectives when it comes to building and enhancing your firm's online brand, engaging the right people online and understanding what works and doesn't for a firm of your size.

• What is the customer journey and why it is very important to online marketing?
  
• What are the best ways to identify relevant content for your firm?
  
• Discussion of the best social media platforms to leverage your firm
  
• Where should a CPA focus in regard to SEO/SEM/online advertising?
  
• Best practices in testing / evaluating what is working and what isn't in order to change your focus for online success.

Understanding the mechanics and key definitions related to the Qualified Business Income Deduction along with taking advantage of some key strategies to ensure maximization of the deduction.

• Calculation of the Qualified Business Income Deduction.
• Understanding the rules related to aggregation of activities.
• Understanding specified service trades or businesses and their impact on the calculation.
• Planning and anti-abuse rules.
• Tax planning strategies.

If you are watching in a group setting, please read this Help Instruction Guide to help you redeem your group code.

This program is free to all CICPAC members, and is appropriate for staff accounting personnel at all levels.

Field of Study: TAX
Level: Basic
Prerequisite: None
Advanced Preparation: None
Recommended CPE Credit: 1.0

For further information and administrative policies contact:
Executive Director: Kathleen Baldwin – 1-800-864-0491 - kbaldwin@cicpac.com

Construction Industry CPAs/Consultants Association (CICPAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.