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Construction cpa

Streamlining Accounting for Construction Companies

Construction companies have unique industry-specific accounting challenges. They don’t just deal with revenue and expenses. Instead, they have a long list of dynamic concerns and challenges, and pulling it all together correctly is critical.

Every construction project includes consultants, engineers, materials, designs, and other moving parts that impact the business’s bottom line. At the same time, these companies have to deal with labor shortages, fluctuations in material costs, complex regulations, and financial surety bonding requirements. To be successful, construction firms need a team of financial professionals with a strong foundation and extensive experience with construction accounting.

Services We Offer

For construction clients, we can provide ongoing services or occasional project-specific services. We work with construction firms to shape our offerings around their businesses’ needs, challenges, and goals.

The services construction CPAs also provide include:

  • Managing books, costs, purchasing, payroll, and taxation    
  • Providing reports
  • Observing and offering feedback on market trends    
  • Providing financial advice    
  • Tax strategy and planning    

Why DHJJ?

At DHJJ, we streamline accounting for general contractors, commercial construction firms, engineers, architects, developers, and other construction firms. We leverage our industry-specific knowledge to help our clients in construction and other industries face challenges and meet their goals. To learn more, keep reading or contact us today for a no-obligation consultation.

We offer a full suite of services, and in that case, we can provide everything from bookkeeping to tax prep to interim CFO services. Or you may have an in-house accounting team, and you may just need occasional services such as tax prep or audited financial statements. In both cases, we can offer the services you need

Benefits of a Construction-Specific CPA

A construction CPA has industry-specific experience. They understand the complex accounting practices and tax laws that affect this industry, and they leverage their knowledge to provide their clients with the best level of services possible.

Working with an experienced and knowledgeable construction accountant ensures that you take advantage of tax-reduction opportunities. It safeguards your compliance with federal, state, and local tax rules. It also ensures that you have the information you need to make the best possible decisions for your business.

Custom Approach to Taxes

The right approach to your tax situation helps you maximize deductions and credits so that you reduce your tax liability as much as possible. It also includes tax planning that helps you look forward and ensure that the decisions you make today support the future tax position of your company.

This process requires an experienced CPA who understands the tax regulations and credits that affect the construction industry. It also requires a CPA who is committed to understanding the dynamic concerns and goals of your specific business.

At DHJJ, our team of construction CPAs provides tax prep and tax planning for federal, state, and multi-state returns. They also handle income, payroll, sales and use, and accounting issues. Our specialists provide tax services to corporate and flow-through entities such as partnerships and sole proprietorships, and they ensure that you’re using the best business structure to optimize your tax situation.

When working with our team, you can use research and development studies to assess potential savings for innovative designs. You can also access guidance on company ownership transitions and tax planning for mergers and acquisitions.

Customizable Accounting

A construction CPA ensures that you know where your money is going, and they make sure it’s working for you. They consider all of the direct and indirect costs of every project and help you create bids and projections with profit margin flexibility.

Accounting for the construction industry requires in-depth knowledge of job costing systems, cost segregation, and project tracking for work-in-progress reporting. Working with an accountant who doesn’t have industry-specific experience can hamper the success of your business. Our construction CPAs provide you with cash flow projections, profitability plans, and budgeting guidance.

They can also help with choice-of-entity analysis, cost certification audits, and cost segregation studies to ensure you take the best approach when depreciating facilities and deferring income tax. As needed, our accountants can provide assistance with bonding and surety issues. They can also analyze internal controls and provide forensic accounting to investigate fraud. Accounting services for construction firms include everything from bookkeeping to business planning and advisory services. We customize the services around your needs.

Industries

Timely & Efficient Audits

Lenders, investors, partners, and others often need audited financial statements. They need the reassurance that your business’s financial statements have been reviewed by a CPA. When you use a CPA who understands the construction industry, your reports become even more credible.

DHJJ provides a full range of audit services. We can offer single-page compilations of financial statements or full-scale audits. We also offer employee benefit plan audits. Often, you need audited documents quickly. The fast-paced nature of this industry requires speed and efficiency, and our team can provide that.

Why DHJJ Construction CPA Experts

At DHJJ, we work with all segments of the construction industry, and we help clients who develop a wide range of projects including residential, commercial, industrial, mixed-use facilities, road and heavy highway, and sub-contractor and specialty construction trades. We also work with providers of services and materials that support the construction industry.

 Construction involves a lot of blood, sweat, and tears. Our accountants understand how hard you work, and they make sure that your accounting and tax planning works to support your business’s goals. We never offer clients a one-size-fits-all solution. Instead, we get to know our clients, and we provide the services that they need to support the sustainable and lasting growth of their organizations. Let’s talk about how we can support your success — contact us today.

Contact us today to speak with an advisor to learn more about your options and how to find the best construction CPA for you and your business. Click here to start the conversation. You can also call us at 630-420-1360 to make your business stronger and your life simpler.

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