construction accounting services

Our knowledgeable Long Island, NY CPA firm does more than help you manage daily bookkeeping and cash flow. We’ve worked with many businesses just like yours, so we understand your financial struggles and have real solutions. We’ll identify practical ways to limit expenses and reduce tax liabilities in order to increase profits. We’ll also perform specialized services that are unique to your industry like job estimating, job costing, and fixed asset accounting. For companies such as construction, remodeling, landscaping, and design businesses who fulfill service orders over a period of time, it’s crucial to monitor job costing.

While most focus generally lies on federal and state income taxes, there’s also a third aspect—payroll taxes. However, very experienced bookkeepers can charge as much as $500 per hour, or more, for doing the books of large construction businesses. Your accountants are also required to report payroll to the union local, if applicable. This can become complicated if your project entails workers from one union temporarily working under another union’s jurisdiction. Also, if your business has projects in multiple municipalities or states, employees may have multiple tax withholdings on a single payroll. Grassi’s construction advisors lend their expertise to capital projects in any industry, monitoring all billing, change orders and timelines to ensure they meet contractual terms and client expectations.

Resources for Your Growing Business

After all, your finances are the foundation of your business because they affect every other aspect—from day-to-day operations to future plans for growth and transition. If you build on a construction bookkeeping weak foundation, your future plans may come crumbling down. These can cover programs like short- and long-term disability, workers’ compensation, paid medical or family leave and more.

However, if you would like to handle it yourself, we make it easier for you. Our secure online portal lets you pull your payroll reports and tax forms for free at any time. It’s extremely helpful to avoid waiting for business hours to speak to a representative when the due date is approaching quickly.

Long-term Contracts

The seller also remained with the company during the transition to provide business development and ensure the transition would be successful. This was indeed the case; the three began to communicate frequently again, and they all continue to work together. We partner with Avantax Financial Services, a national wealth management company that works with a wide range of clients.

Government stimulus programs (eg PPP, ERC, EIDL), SBA 8(a) applications, litigation support, company mergers and acquisitions, and new business ventures. Managing investments, assets, retirement, risk and taxes can be so confusing and overwhelming that many people choose not to think about it at all. That might be easier in the short term, but it won’t get you any closer to meeting your long-term financial goals. Contact us to help you with your foreign tax needs today, and watch your business grow. The fees that can be charged by bookkeepers depend on their level of experience and the nature of the job that is required.

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