General Contractor Accounting

iStock_000000789665_SmallQUALITY AND PROFIT: THAT’S HITTING THE NAIL ON THE HEAD

Commercial construction often include retail, warehouse, office, or building construction.  Project managers have several tasks that require their close attention to the details.  Estimating, purchasing, job costing, document control, scheduling are all important to maintaining  good performance and profitability. Goldman & Co., CPAs general contractors accounting services  are designed to make sure you stay in control of your business both financially and profitability.
Reliable and accurate job estimating is important to not only helping to win bids but understanding and knowing each job profitability.   Our accounting services are aimed at making this practice easier by providing the business reporting systems, job cost procedures, and measurement and analysis tools to help you better manage your business.

Payroll
Variance Report
Time Reports
Laptops and Tablet Computers
Projected Job Costs
Benefits of Using Unit Costs and Unit Productivity per Hour
Purchase Orders
Time and Material Billing
Payroll for Contractors

Time and material billing

There are three common reasons why a contractor would use a time and material or cost plus contract.

    • To avoid setting a sales price or uncertainty in creating a sales price.
    • To avoid estimating jobs.
    • Time and material billing or cost plus allows contractors to invoice for all their costs, overhead, and a profit margin.

Payroll for Contractors

It can get complicated with…

        • Prevailing wage rates
        • Union fringes and calculations
        • Multi state
        • Job reporting and job costing. There is a right way. A good payroll system offers the contractor a way to handle all of their payroll needs correctly and easily.

Information and reports are tailored to each client’s unique needs.

GENERAL CONTRACTOR TAX PREPARATION

BUSINESS TAXES CAN BE MINIMIZED

The amount your business pays is not fixed.

You know your business.  Goldman & Co., CPAs knows taxes.  You’re busy managing your business.  It’s our job to provide tax advice and prepare the business tax returns of our clients to comply with IRS and state filing requirements.  We understand the complexities of the IRS tax code and how it can be best applied to a client’s situation.  We’re specialists when it comes to minimizing taxes and business risks.

GENERAL CONTRACTOR INDUSTRY BUSINESS TAX PREPARATION

Any business and investment decision you make will have tax consequences.

Goldman & Co., CPAs professionals possess deep understanding of the tax laws, so that we can minimize the amount of business taxes you pay.  Our services are customized to you and your business situation.

Key Business Tax Services

      • Business tax preparation
      • S Corporation, Regular Corporation, LLCs, Partnerships, and Sole Proprietorships
      • Business tax planning
      • State and local tax services
      • Tax credits including historic rehabilitation credits,  energy savings credits, jobs credits, other
      • Year-end tax planning and multi-year projections

Key Construction Tax Services

There are specific tax issues that are unique to the construction industry.  Let our experience and knowledge of the construction industry help you to take advantage of what’s available.  Key construction tax services include:

      • Choosing between cash and accrual method of accounting
      • Classify yourself as either a small or large contractor
      • Job costs and allocating indirect costs
      • Percentage of completion method
      • Completed contract method
      • Domestic production activities deduction

For additional information contact Jim Goldman, CPA at [email protected] or call (401) 781-4200.