Whether you already have your eye on a target or are still weighing options, … We prepare lender-ready draw packages with aligned cost documentation, invoices, proof of payment, and inspection-ready reporting to move funds without delays or rework. The recently passed One Big Beautiful Bill Act (OBBBA) includes overlooked but impactful tax incentives for employers investing in childcare. Learn how these hidden gems could help you reimagine your benefits strategy and reduce your tax burden. Contractors real estate bookkeeping and developers must adhere to various local and state regulations, including licensing, bonding, and tax obligations.
- It integrates core accounting functions such as general ledger, accounts payable/receivable, and payroll with construction-specific workflows for estimating, bidding, and service management.
- Tax planning and compliance aligned with construction project timing, entity structures, and long-term business goals.
- We can also support draw requests, owner distributions, and lender-ready financial packages.
- In many popular vacation destinations, property values and insurance costs have soared.
- That’s why it’s important to stay ahead of your cash flow, so you can take on new projects, pay your crew on time, and grow with confidence.
What makes your construction financial services stand out?
And, learn why other commercial real estate owners use STRATAFOLIO to increase efficiency and profitability. Periodically monitor your chart of accounts to make sure they continue to make sense. This could mean expanding your accounts in certain areas so you have clarity on some expenses.
Our Evaluation Process
Construction companies often face complex tax regulations, especially when operating across multiple jurisdictions. With offices in Johnson City, Kingsport, Greeneville, and Norton, our team is embedded in https://glowtechy.com/why-professional-real-estate-bookkeeping-is-essential-for-your-businesses/ the communities we serve. We’re proud to support local organizations, school systems, municipalities, nonprofits, and individuals throughout the Southeast and beyond.
Revenue Recognition for Construction Projects
We provide access to top jobs, competitive compensation and benefits, and free online training. Download the Robert Half app and get 1-tap apply, notifications of AI-matched jobs, and much more. Providing manufacturing consulting solutions to help businesses reduce risk and improve efficiencies across the supply chain.
As we approach the end of the year, it’s essential to be aware of the numerous tax provisions set to expire. The insight of hundreds of investments executed, the power of billions under management, and services designed to protect, support and grow investments – all from one determined and accomplished partner. See how Adaptive’s AI agents can transform your back office in a 15-minute demo. Continuously captures and codes every cost including bills, receipts, cards, and payments to the correct job and cost code as work happens. By consolidating your chart of accounts into STRATAFOLIO, you create an effective, scalable accounting structure that drives better decisions and sustainable growth.
- It breaks down how the IRS looks at areas like contract types, job costing, revenue recognition, and what might raise red flags during an audit.
- Contract retainage, sometimes called retention, is a standard part of construction contracts where a portion of the total payment, usually around 5% to 10%, is held back until the job is fully completed.
- Stacie’s favorite fundamental is #2 ‘Make Quality Personal’ because our clients have come to expect great quality from us and she prides herself in continuing to serve them this way.
- Accounts Payable & Receivable – Staying on top of bills, invoices, and collections across multiple projects, vendors, and clients.
- Market conditions, supply chain disruptions, and seasonal variations can cause unexpected cost increases, making it difficult to stick to budgets.
Have a question about our accounting, tax, or advisory services for general contractors? If you don’t see your question here, we’re always available to start a conversation. Suzanne is a partner in the tax, accounting, and advisory services, where she leads the compliance and advisory services, including specialty groups of SALT, M&A, Trust & Estate, and CAS. She began her career in public accounting in 2003, with a focus on tax and consulting.
