Barry A. Fischman and Michael D’Addio's Articles

Conflict in Court Over Income Recognition for Construction Contractors

The 9th Circuit Court’s review of how construction contractors should recognize income had a somewhat surprising outcome. The key question being considered was: When should developers recognize income under the completed contract method? Is it when the entire project is complete, is it on percentage of completion, or is it upon the sale of each individual home sold?  

Shea Homes, which used the completed contract method to account for its planned development communities, claimed that final completion and acceptance under Reg. 1.460-1(c)(3) did not occur until the last road was paved and the final bond
was released. However, the Internal Revenue Service (IRS) contended that final completion took place upon the sale of each home.

//to add proper spacing in between panes
 

Mid-year economic Forecast: Momentum Meets Intrigue
If economic performance reflected consumer and business ebullience, the United...

Is Your Jobsite Smart Enough?
There’s a lot for contractors to be excited about on the technology front: drones...

ABC Members Invest $200,000 in Military Families
"Honor their sacrifice. Educate their legacy.” That motto has inspired Folds...

What hobby or pastime inspires you most when you are not at work?
"All too often, a hectic day at work leads to rushing home to take care of household...

View this month's Digital Edition
Construction Executive
Print magazine published 10 times per year covering news, market developments and business issues impacting the construction industry 

eNewsletters:
Managing Your Business
Biweekly eNewsletter covering management and financial best practices

Tech Trends
Biweekly eNewsletter covering the latest construction technology trends and products

Risk Management
Biweekly eNewsletter covering surety bonding, insurance, safety and compliance.