Construction companies face a bevy of unique challenges not often experienced by other businesses. The project-based nature means that every worksite has its own accounting challenges. Management needs to pay careful attention to maintain accurate bidding, cash flow management, tracking costs, timely payments, labor management, and equipment rental and usage. Given the complexities of these items, along with the challenges of revenue recognition and compliance requirements, these companies need to work with a specialized and experienced CPA firm to guide efforts and provide practical and technical guidance.
KatzAbosch has significant experience serving the needs of construction companies and contractors. We work with dozens of contractors in Baltimore and across the Mid-Atlantic region. Underlying this practical experience is significant technical and industry training that is difficult to match. Not only does our firm have several Construction Industry Professionals (CCIFPs), but we are also active in a number of associations, including the Associated Builders & Contractors, American Subcontractors Association, Building Congress & Exchange, and the Construction Financial Management Association (CFMA).
KatzAbosch provides a variety of tax, accounting, audit, and financial reporting solutions to construction companies and contractors. While most initially come to us for assistance with tax planning, we provide solutions designed to meet the most complex challenges companies face. These include:
