Construction
Every build starts with a plan to succeed. Your business is no different. In today’s volatile economy, construction companies are making it a priority to address business succession and cash-flow planning to ensure the business’s health and longevity. Yet, new challenges such as embracing technology and Artificial Intelligence are now top of mind. Construction companies of all sizes realize the need to ensure their plans for the future are concrete.
Withum’s Construction Services Team helps construction-based companies navigate complex business challenges, whether tax, accounting, advisory or technology-driven. Our team, which includes five Certified Construction Industry Financial Professionals (CCIFP®), services all segments of the industry. We will be a part of the blueprint for your success so you can dream it, build it and grow it.
Who We Help
- Residential and Heavy Highway Contractors
- Commercial Specialty Trade Contractors
- Solar Power and Renewable Energy Construction Companies
- Landscapers and Recyclers
- Suppliers, Manufacturers, Dealers and Distributors
- General Contractors & Construction Managers
Construction Industry Challenges and Trends
Navigating the future of a construction business requires careful consideration of leadership transitions. In the construction industry, where expertise, relationships, and industry knowledge play a vital role, a well-executed succession plan ensures the continuity of operations, the preservation of company values, and the successful adaptation to evolving market dynamics, while effective tax planning can only bolster current success. Our team offers a wealth of expertise and resources designed to assist construction owners in developing robust plans tailored to ensure both current success and a prosperous future for both the business and its stakeholders.
Our Solutions
Adapting new technologies can help boost construction productivity and profitability, giving your company a competitive advantage. Cloud-based and security solutions, dashboard reporting and technology integrations will keep your team in the loop while collaborating on various projects in a secure environment.
Our Solutions
Profit margins are tight in a competitive, saturated market. Identifying and addressing areas of operational risk, like inaccurate job costing, lack of timely information, poor collaboration between office and field, and turnover of key employees, can help you streamline operations and increase profits.
Our Solutions
As jobsite locations change regularly, contractors are left with an array of costs ranging from travel time, equipment and jobsite expenses. Understanding the intricacies of construction specific accounting is crucial when looking to maximize profits and cash flows.
Our Solutions
Blueprint for Success
Construction Accounting and Tax Services
- Financial Statement Preparation: Including audit, review and compilations
- Agreed upon procedure engagements
- Budgeting and forecasting
- Outsourced Accounting Systems and Services
- Internal control recommendations including assistance with policies and procedures
- Job costing and work in progress assistance
- Federal, Foreign and State and Local tax reviews and planning
- Calculation of overhead and burden rates, including FAR audits
- Cost segregation studies
- Fixed asset book and tax depreciation record keeping
- Tax reorganization and entity structuring
Construction Advisory Services
- Succession, estate and retirement planning
- Insurance investment review and benefits
- Private client services and wealth management
- Cyber and information security services
- Digital and technology transformation
- Software evaluations, consultations and project management
- Benchmarking and compensation studies
- Litigation support, divorce and forensic services
- Business valuations
Recognitions
It is an honor for our team to be recognized in The Top 50 ranking. We have served the construction industry for over 40 years and have made it our mission to provide world-class service to all of our clients. We are proud to receive this recognition.
Louis Sandor III, Practice Leader, Construction Services
Women in Construction
In honor of Women in Construction Week, Conor Barnes, Sherry Goode, and Emily Dudek, team members of Withum’s Construction Services and Architecture & Engineering Services Teams, reflect on their experiences and advice to promote and embrace women in the AEC industry.
Insights
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Building a Strong Future: Succession Planning Options for the Construction Industry
Business succession planning is a topic that continues to gain prominence as business owners seek ways to transition their ownership. Closely-held, owner-managed companies face the biggest challenge when it comes […]
Mastering ERP Success: Two Essential ERP Implementation Best Practices
Enterprise Resource Planning (ERP) implementation is a complex process requiring significant investment in resources, time and money. An ERP system is designed to help organizations streamline their business processes, increase […]
Contact Us
For more information or to discuss your business needs, please connect with a member of our team.
