Our firm is well acquainted with the unique financial reporting and tax considerations that are required by our construction clients. We have experience is dealing with general contractors, subcontractors, and builders of single-family residences, multi-family residences, and industrial facilities.
Owners of construction companies are familiar with the experience of living on the edge. Lucrative projects are often filled with risk, and the ability to manage the cash flow and deliver a job on budget is considered to be the hallmark of success. Our firm is well acquainted with the unique financial reporting and tax considerations that are required by our construction clients. We have experience in dealing with general contractors, subcontractors, builders of single and multi-family residences, as well as industrial facilities. Since our founding in 1949, Bowman has been helping our clients solve financial challenges by providing consulting services such as auditing, job-cost analysis, tax return preparation, and timely compilation of financial reports. Our cornerstone clients are deeply involved with construction and development, and many of those relationships span decades.
One of our initial determinations in evaluating construction clients is ensuring they are utilizing every permitted tax strategy allowed under the tax law. For example, small contractors are permitted to use accounting methods which more closely relate to the cash method of accounting, which is intuitive to most business owners. We have successfully applied for changes in accounting methods for qualifying contractors in order to help ensure they don’t pay taxes on income which is not yet received by the company. We also will investigate other tax incentive programs for contractors who build using energy-efficient techniques.
Whether advising clients to seize an opportunity to take full advantage of tax incentives, or preparing and providing financial statements to financial institutions and bonding companies, Bowman has a substantial amount of resources and a proven track record to help meet your needs.