Connie Cheng is a Tax Managing Director in BDO’s National Tax Office Accounting Methods group. Based out of our Los Angeles office, Connie has 15 years of experience in federal taxation in handling a variety of accounting methods issues including income and expense recognition, capitalization and Section 199.
She has extensive experience working with public and private clients across a variety of industries, including manufacturing, automotive, hospitality, and gaming. In her current role, Connie specializes in Section 199-related issues, including preparing and reviewing Section 199 computations and related technical memoranda, as well as assisting clients with Section 199 related controversies. Connie also advises clients on federal income tax accounting issues such as income and expense recognition, tangible asset capitalization, and inventories. She assists taxpayers with controversies pending before the Internal Revenue Service and has prepared, reviewed, and represented clients for letter rulings from the Internal Revenue Service National Office. Prior to joining BDO, she was a senior manager at a Big Four firm’s national tax practice.
B.A., Business Economics, University of California Los Angeles (2003)
Bloomberg Tax Management Portfolios
Section 199: Deduction Relating to Income Attributable to Domestic Production Activities (Portfolio 510)
Bloomberg Tax Portfolio, Section 199: Deduction Relating to Income Attributable to Domestic Production Activities, No. 510, discusses the deduction available to taxpayers that engage in qualifying domestic production activities, including the formula for computing the deduction and the various attributes of that formula