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Co-sponsored by the Educational & Memorial Foundation of the Tennessee Society of Certified Public Accountants and the Associated General Contractors of Tennessee. This conference provides specific information and training directed toward professionals involved with the construction industry. The conference will feature speakers known both locally and nationally for their expertise in the construction industry.
Session Highlights:
- Weathering the Storm
- The Bank Relationship in this New Financial Environment
- Update on the Surety Market
- Maximizing Lien Rights
- Accounting and Auditing for Contractors in Tough Economic Times
- Multistate Tax Issues for the Construction Industry
- Succession Planning for Contractors
- Contractual Risk Transfer: How Does it Work?
- Choice of Entity and Related Income Tax Considerations
- Construction Taxation Update
Course Level: Update
TSBA Subject Code: M/T/A
CPE Credit: 8 hours
Schedule at a Glance:
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| 7:30 - 8 a.m. |
Registration/Continental Breakfast
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| 8 - 8:05 a.m. |
Welcome/Opening Remarks |
| 8:05 - 9:35 a.m. |
1. Weathering the Storm
Michael Clancy, Senior
Consultant, FMI Corporation,
Raleigh, NC
The construction industry is experiencing a downturn that it has not felt in more than 25 years. Having enjoyed an
extended period of economic prosperity, many industry executives find themselves unprepared for this economic
uncertainty and construction recession. In response to this economic perfect storm, Mike Clancy of FMI is prepared to
discuss practical information and strategies for construction industry firms. Topics covered will include: understanding
the strategic, organizational and uncontrollable aspects of contractor failure; economic forecasts and market realities;
the importance of having a well-developed contingency plan; and how to establish key performance metrics to
accurately track organizational activity and results. |
| 9:40 - 10:30 a.m. |
2. The Bank Relationship in this New Financial Environment
Bill Forbes, Senior Vice
President - Corporate Banking
Team Leader, Commerce
Bank, Franklin, Tenn.
The session will provide an overview of the fast changing banking system and is intended to help contractors better
understand and manage the relationship and risks associated with their financial services providers. |
| 10:30 - 10:45 a.m. |
Networking Break & Exhibit Viewing |
| 10:45 - 11:45 a.m. |
3. Update on the Surety Market
Paul D. Sims, CPCU, Senior
Vice President, Willis of
Tennessee, Nashville, Tenn.
This session will discuss how surety underwriters are responding to the market slowdown. |
| 11:45 a.m. - 12:45 p.m. |
Lunch |
| 12:45. - 1:35 p.m. |
4. Maximizing Lien Rights
Gregory L. Cashion, Attorney,
Smith Cashion & Orr, PLC,
Nashville, Tenn.
The number of liens filed in Tennessee has increased dramatically in the last year. With fewer construction
opportunities, it is critical that you take all necessary steps to collect your receivables. We will review the Tennessee
mechanics and materialmans lien law in order to assist and guide you in maximizing this tool for collection. We
will discuss strategies for collecting monies through the use of the lien law and explore the recent revisions by the
Tennessee General Assembly to both the lien law and the retainage law. Our goal is to enable you to make informed
decisions regarding your rights under the lien law.
5. Accounting & Auditing for Contractors in Tough Economic Times
Paul Gregory Alford, Audit
Partner, Davidson, Golden &
Lundy, P.C., Brentwood, Tenn.
Are you struggling with strategies to help your contractor clients? How are you managing the increased audit risk during
this recession? Chances are your contractor clients are experiencing tough times during this recession.
Greg Alford, audit partner at Davidson, Golden and Lundy, will cover these specificissues in depth. He will also
discuss current trends in the construction industry and strategies for the recession. Other topics will include accounting
developments in the construction industry. |
| 1:40 - 2:30 p.m. |
6. Multistate Tax Issues for the Construction Industry
Jonathan S. Faught, CPA,
J.D., LL.M., State and Local
Tax Manager, KraftCPAs
PLLC, Nashville, Tenn.
Are you aware of the complex state tax issues that the construction industry faces? In addition, is your business in
compliance with all of the various state tax laws?
Various multistate tax issues arise in the construction industry. This seminar will help identify those issues including,
but not limited to: Nexus and common traps, voluntary disclosure process, the audit process in Tennessee, economic
incentives including the jobs tax credit, recent law changes in Tennessee and other issues encountered with franchise/excise, sales/use and business tax in Tennessee.
7. Succession Planning for Contractors
William C. Bell Jr., Attorney,
Rainey, Kizer, Reviere & Bell,
P.L.C., Jackson, Tenn.
Every contractor has a succession plan. The question is whether the plan that exists is the one the contractor wants
or the one the law has chosen for him. Succession planning for a contractor should focus on when the transfer of
ownership will occur, how it will occur, and to whom the transfer will be made. Some of the key issues in any transfer
of ownership will be liquidity and payment issues, debts, owner guaranties, the effect of estate and inheritance taxes
on the contractor’s family and the business, and how to treat family members after the owner’s death. We will explore
answers to these issues in a useable checklist format that can be presented to your clients. |
| 2:30 - 2:45 p.m. |
Networking Break & Exhibit Viewing |
| 2:45 - 3:35 p.m. |
8. Contractual Risk Transfer: How Does it Work?
Kevin Glasgow, CPCU,
Senior Vice President, Willis of
Tennessee, Nashville, Tenn.
This session will cover insurance requirements, indemnity language and certificates of insurance.
9. Choice of Entity and Related Income Tax Considerations
Jerry A. Moss, CPA, CVA,
Member, KraftCPAs, PLLC,
Nashville, Tenn.
This session will explore the various types of entities (C corporation, S corporation, Limited Liability Company (LLC),
Limited Partnership (LP) and General Partnership (GP)) available to contractors and how income tax planning
strategies vary based on the form of the business.
We will review how entity type impacts making an election to become an S corporation, payment for services to owners,
payment of rent to related property owner, alternative minimum tax, self-employment tax and Tennessee franchise
excise tax.
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| 3:40 - 4:30 p.m. |
10. Construction Taxation Update
James C. Lundy Jr., CPA,
Vice President, Davidson,
Golden & Lundy, PC,
Brentwood, Tenn.
This session will provide an update on tax legislation rulings and planning you need for construction contractors. In
addition, the session will cover Internal Revenue issues, Tennessee Department of Revenue changes and court rulings
affecting contractors as well as tax planning and strategies necessary to work for or with construction companies. |
| 4:30 p.m. |
Evaluations & Conference Concludes |
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| Registration Fees: |
before Sept. 13 |
after Sept. 13 |
| Member Discount Fee |
$245 |
$285 |
| Conference Fee |
$320 |
$360 |
Hotel Information:
A limited block of rooms has been reserved at the Courtyard by Marriott Brentwood at a rate of $89. Reservations may be made by calling 1-800/321-2211. Please reference the TSCPA Construction Conference when making your reservation to ensure you receive the group rate.
Registration Information
Enroll soon because space is limited. Register by Sept. 13 to pay the discounted registration fee. Registrations must be received seven days prior to the event in order to guarantee a seat and course materials. Allow approximately one week for receipt of confirmation.
Cancellations and Substitutions: Cancellations received by Sept. 20 will be assessed a $30 administrative fee. Cancellations received between Sept. 21 and Sept. 27 will be subject to a cancellation fee of 50 percent of the program fee. No refunds are given on or after the date of the program. A $30 administrative fee will be assessed for all substitutions and transfers. Registrants may substitute another individual up to the day before the conference. TSCPA must be notified in advance to ensure proper CPE credit.
Registration Fee Includes: conference, session highlights, continental breakfast, lunch and refreshment breaks
Suggested Dress: business casual.
TSCPA provides you with a Proof of Attendance that serves as your permanent record of participation. The Proof of Attendance, noting the credits earned, will be e-mailed within two weeks of the program.
If you have special needs under the Americans with Disabilities Act, please attach a written description or call the society office at 615/377-3825.
4 Easy Ways to Register
By Internet
Online registration
By Fax
615/309-8054 or 615/377-3904
By Mail
Mail completed registration form and payment to:
Educational & Memorial Foundation of TSCPA
201 Powell Place, Brentwood, TN 37027
By Phone
1-800/762-0272 or 615/377-3825
This conference is presented by The Educational & Memorial Foundation of the Tennessee Society of Certified Public Accountants and the TSCPA Construction Conference Committee.
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© Tennessee Society of Certified Public Accountants
201 Powell Place • Brentwood, TN 37027
Phone: 615/377-3825 • Fax: 615/377-3904
Toll Free: 1-800/762-0272
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