Construction moves fast—your accounting should too. We help general contractors and subcontractors with tax planning, job-by-job bookkeeping, payroll, sales/use tax, and IRS representation. We are bilingual (English/Spanish) and align your processes with real on-site conditions.
Where the Savings Come From
- Entity & QBI: LLC/S-Corp, reasonable comp, accountable plan
- Method selection: Cash, completed contract, percentage-of-completion (per current rules)
- Depreciation: §179/bonus, ADS vs. GDS, repairs vs. improvements
- Materials & sales/use tax: Tax-exempt purchases and use tax when applicable
- WIP & job costing: True costing, retainage, and change orders
- Credits: Energy/efficiency and other eligible incentives
- Payroll & subs: Time tracking, W-2/1099-NEC, compliance
- Financing & bonding: Financial statements for banks and surety bonding
Construction Accounting Stack (QuickBooks Setup)
- Projects/Jobs: Phases, retainage, AIA/progress billing
- Items & assemblies: Materials, labor, overhead
- Purchase flow: POs, item receipts, bills, approvals
- WIP schedule: Physical/financial progress and variances
- AR/AP control: Days to collect/pay, discounts, penalties
- Sales/use tax: Rules, reports, supporting documentation
Monthly Process for Contractors
- Kickoff & cleanup: Construction chart of accounts, mappings, policies
- Automate: Bank rules, receipts, approvals, and alerts
- Reconcile & review: Banks/credit cards, AR/AP, payroll, and loans
- Close & advise: Job P&L, WIP, KPIs, and quarterly tax planning
Key KPIs for GCs & Subs
Gross Margin by Job
Price vs. actual costs plus retainage
WIP Variance
Actual progress vs. billed/executed
AR Days
Timely collections = better cash flow and less interest
Labor Utilization
Billable hours / total paid hours
Change Order Impact
Effect of change orders on margins
Cash Runway
Weeks of available cash
Who We Help
- General contractors: Commercial and residential
- Trades: Electrical, HVAC, plumbing, concrete, framing, roofing
- Remodelers & service: Quick tickets and time & materials contracts
- Developers/owners: Capitalization, indirect costs, and sales
Related Services
Explore: Accounting & Bookkeeping, QuickBooks Cleanup & Catch-Up, Tax Preparation, IRS Representation, and Outsourced Controller/CFO.
FAQs: Construction Tax
Can I use the completed contract method?
Eligibility depends largely on the size and specific type of projects you undertake. We thoroughly assess your gross receipts along with the cash-flow impact associated with your operations to accurately determine your compliance status and potential tax benefits. This comprehensive evaluation helps us ensure that all relevant factors are considered for a precise eligibility determination.
How do you handle retainage and AIA billing?
We carefully configure progress billing, retainage, and change orders to accurately reflect true profit margins and prevent any instances of under-billing. This detailed setup ensures that all financial aspects of the project are transparently tracked and managed effectively. By doing so, we help maintain precise financial control and avoid potential revenue losses throughout the project lifecycle.
What about Florida use tax on materials?
We continuously and diligently monitor all tax-exempt purchases to ensure full compliance with the relevant regulations and accurately calculate any applicable use tax when required. Our thorough process includes generating detailed and comprehensive reports, each accompanied by extensive documentation to fully support every transaction and tax calculation made, providing transparency and accountability throughout.
Do you offer fixed pricing?
Yes. Our packages are carefully and thoughtfully designed to cater to the volume and complexity of your unique business needs. This includes important factors such as efficient inventory management, comprehensive project handling, and accurate payroll processing. Each package is tailored with a clearly defined scope that is mutually agreed upon well in advance, ensuring full transparency and complete alignment with your specific objectives and requirements. This approach allows us to provide you with the most effective and customized solutions possible.
Ready to Build Profits with Better Tax Planning?
Schedule a comprehensive and thoroughly detailed call designed to meticulously align every aspect of your entity structure, accounting method, and WIP reporting with the unique and specific characteristics of your particular business operations. We proudly offer bilingual services, providing expert support in both English and Spanish to ensure clear, precise, and effective communication at every stage of the entire process, helping you achieve the best possible outcomes tailored to your needs.
Nearby: Tampa • St. Petersburg • Clearwater • Brandon • Wesley Chapel • Pasco • Pinellas • Hillsborough
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