Accounting for Construction Companies: Audit, Tax, & Advisory Services

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 succession and cash-flow planning to ensure the business’s health and longevity. Yet, new challenges such as embracing technology and cybersecurity preparedness 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

As baby boomers prepare for retirement, business owners are faced with identifying and grooming their successors. Mergers and acquisitions, ESOPs, management buyouts, joint ventures, sale of business and family members are all important aspects of succession planning.
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

Testimonials

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.

Women in Construction

In honor of Women in Construction Week, Conor Barnes, Sherry Goode, and Emily Dudek, team members of Withum’s Construction and Architecture & Engineering teams, reflect on their experiences and advice to promote and embrace women in the AEC industry.

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