George Hani will speak at the Southern Federal Tax Insitute on October 24, 2018, in Atlanta, Georgia.  Hani will present a Tax Accounting and Cost Recovery Update. 

As in other areas, TCJA has made significant changes in tax accounting and cost recovery rules. Expensing will be available for numerous classes of assets through 2023, although questions exist with respect to the scope of the expensing provisions. In many situations, new § 451(b) will accelerate income inclusion by reference to "applicable financial statements" under financial accounting standards. In addition, the availability of exemptions for small businesses with respect to the use of cash method accounting has expanded, along with exemption from UNICAP and qualification for the completed contract method. These various changes and additions to the rules will be discussed.