Learn more about South Florida’s leading construction accounting firm, Shavell & Company, P.A. here.
“Be Ready” Revenue Reporting Presentations Led By:
Rich Shavell has spent the last 30 years serving the commercial construction industry and all types of contractors.
Rich is an author of the Income Recognition chapter in CFMA’s guide, “Financial Management and Accounting for the Construction Industry,” published by Matthew Bender Elite Products.
Shavell has a long history of testifying before Congress over the last 25-plus years, including before the House Education and Labor Subcommittee on Workforce Protections (2007), House Ways and Means Committee (1991 & 1995), Senate Finance Committee (1991), the House Committee on Small Business (1998 & 2015) and before the IRS on proposed regulations (1990, 2006, 2008, 2009 & 2011). The IRS has called upon Mr. Shavell to review training materials, present seminars for IRS auditors focused on the construction industry, and to facilitate IRS outreach programs with industry.
Rich Shavell is past chair of the Associated Builders & Contractors’ (ABC’s) national Tax Advisory Group (TAG) and currently serves on ABC’s National Legislative Committee. Shavell was a member of ABC’s previous National Tax Committee from 1990-1996, and served as its chairman in 1997 and 1998.
Mr. Shavell is a four-time winner of the South Florida Business Journal award for accountants in construction, real estate, and tax categories.
Shavell & Company, P.A. is a full service certified public accounting and consulting firm with offices in Boca Raton, FL. Since January 2002, Shavell & Company, P.A. has offered a full array of tax and accounting services for small and medium-sized businesses.
For the construction industry, Shavell & Company helps clients with bonding maximization, cash flow analysis, tax structuring and planning, job costing, due diligence, litigation support, business valuation, and cost segregation studies.
Shavell & Company, P.A. has taken a lead role and gained national recognition for working to ease financial statement reporting standards and also influencing national tax legislation to benefit contractors. Here is just a sampling of the firm’s and Rich Shavell’s activity:
- Served on a national association’s Emerging Issues Task Force, which provided detailed comments to the Financial Accounting Standards Board thereby ensuring the final Standard for Revenue Reporting still maintains the availability of the percentage-of-completion methodology (although with significant changes)
- Assisted with national association’s Emerging Issues Committee drafting of comments to AICPA for their alternative Financial Reporting Framework for Small- and Medium- Sized Entities
- Led a five-year effort by a national construction association to repeal 3% tax withholding law affecting governmental contracts, including authoring multiple sets of comments for IRS and U.S. Department of the Treasury review, traveling to Washington, D.C. numerous times for meetings with congressional leaders, as well as to present oral testimony twice before the IRS and US Treasury and submitting jointly authored written comments to the House Committee on Small Business
- Assisted a national construction association to develop a bill, the “American Job Builders Tax Reform Act” (H.R. 6097) to increase the gross receipts threshold for contractors to use more favorable tax reporting methods. After more than 25 years of effort on these tax provisions, success was achieved as two of the key provisions in this proposed legislation found their way into the recent 2018 tax law!