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Course/Product Description
Title:

Reporting Requirements Of Tax Incentive Impact

SKU:WC-1021661
Date / Time: Recorded
Format: Webinar
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Description:

It is no secret that for many years governments have been issuing rebates in order to attract employers to relocate and stay in their jurisdictions. The number of states offering property tax rebates has increased from 15 in 1965 to over 35 today.

In 2012, a New York Times investigation put the price tag for states and local governments at more than $80 billion. In response to a public outcry for greater transparency, the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 77, Tax Abatement Disclosures in August 2015. GASB Statement No. 77 takes effect stating with the fiscal year that ends December 31, 2016, but earlier application is encouraged.

This webinar will cover what is now necessary to comply with this politically sensitive GASB disclosure. We will cover the background of tax rebates, how the disclosure needs to be presented to comply with this pronouncement and walk through a number of illustrative examples.

AGENDA

Background of Tax Abatements (the Good, the Bad, and the Ugly)

  • Brief History and Development of Tax Abatements
  • The Components of Tax Abatements
  • Typical Administration of Tax Abatement Programs
Disclosure Mechanics
  • Disclosure Principles
  • Disclosure Requirements
  • Financial Information
Examples
  • Small Government With Few Abatements
  • Large Government With Many Abatements Including Abatements of Other Governments
  • Special Issues Such as Recapture of Tax Abatements, Dealing With Confidential Information, Unit of Account
About The Presenter

John P. Garcia, CPA, M.B.A.
  • Owner of Corporate Tax Advisors
  • Assist organizations with corporate tax compliance, financial reporting, audits and planning
  • Conducts regular seminars and workshops on numerous tax subjects
  • Wrote, lobbied, and assisted in the passage of the Arizona state income tax deduction for contributions to IRC Section 529 qualified college savings plans
  • CPA, MBA – International Business. Member of the AICPA
  • B.S. degree in accounting and finance, University of Maryland


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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