Construction Accounting, Business Advisory Services

construction accounting firm

The construction industry comes with many advanced accounting issues, audit procedures, and tax issues, which makes accounting for construction companies, real estate firms, and contractors especially challenging. The Brown Edwards construction practice has been dedicated to serving the construction industry since 1967. Today, we aide general contractors, engineers, architects, construction managers, civil and heavy highway construction companies, mechanical and electrical contractors, plumbing contractors, and other specialty-trade contractors. Our firm specializes in assurance, tax planning, tax compliance, bidding and estimating, rate setting, litigation, mergers and acquisition, WIP management, and advising on other significant industry matters. Look no further for experienced and knowledgeable construction accountants who understand how to enhance the financial stability of your company.

construction accounting firm

Our construction CPAs can help paint your financial story in the best light and make sure there are no misunderstandings. We understand the surety underwriting process, and we can effectively bridge the communication and knowledge gaps between your company and other parties. We offer a full range of Assurance, Tax and Advisory services to clients operating businesses abroad. The Section 179D deduction can promote energy efficiency, increase cash flow, and reduce current year federal income tax liability. New lease accounting guidance impacts the construction industry in potentially unexpected ways. “We chose Moss Adams because of their reputation and knowledge of the construction industry.

State Tax Day – Current,S.7,Georgia—Corporate, Personal Income Taxes: Governor’s IRC Conformity Bill Introduced

We partner with you in all aspects of business management so that you can increase profitability and reduce risk. Many firms can provide bookkeeping for construction companies, but not every firm can go beyond traditional accounting. CICPAC’s Tax Thought Leadership Committee has recently updated its tax planning missive to summarize the tax guidance that could impact construction companies. With the growth in new construction, many construction companies face an increasing need for qualified workers—from general laborers to plumbers, masons, electricians and other skilled tradespeople.

  • Warren Averett’s Construction Practice Group consists of 60 seasoned professionals, several of whom have the designation of Certified Construction Industry Financial Professional .
  • Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.
  • The smaller accounting firms end up serving as an outsourced accountant, and will be able to deliver more value than a staff accountant would, without all of the hassle.
  • Regulations related to the construction industry can be complex, making compliance with these laws an ongoing challenge.
  • The biggest difference that this chief financial officer is going to bring is systems to help you scale upward as a commercial general contractor.

Ten of our team members have the prestigious distinction of Certified Construction Industry Financial Professional , a certification held by less than 41 professionals in Maryland and only 1,140 professionals in the United States. „The firm is by far the most credible that I have dealt with in my career. They do a difficult job well and with the highest concern for professional courtesy, fairness, and above all, integrity.“ It is essential to work with a CPA firm who has relevant industry experience and education. Think of our industry partnerships and certifications as required permits to help protect your business.

Performance Financial

The project managers were frustrated with the owner not having a transition plan and were considering leaving and starting their own company. The three were challenged to express to each other in a positive way what each was looking for from the other. In one case, we helped a large commercial general contractor reduce its financial closing and reporting process from days down to just15 dayson a monthly basis.

  • While the company was profitable and had several successful years in a row, they would suffer without additional bonding and access to capital.
  • Streamlining and properly managing your construction firm’s operations allows you to better utilize your resources—so you can successfully add more jobs while managing the projects you already have.
  • You could stick with your current accountant, and potentially give $1Ms more to the IRS and lose even more in profits.
  • Richard Reid is one of the most knowledgeable and honest people I know.
  • You want to make sure you’re taking full advantage of the numerous special deductions, credits, excise taxes and other elections available.
  • Whether your goal is to design a compensation plan or to evaluate your construction cost estimator, we can help.

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