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CONSTRUCTION

A focused service built around your needs.

The only constant in the construction industry is the constant change. Each year brings unique challenges and opportunities. A strong financial plan and accurate accounting provides the foundation for every construction company’s success.

ELO CPAs & Advisors’ team of building sector industry experts offers the services, strategies and experience to create a strong financial foundation for good years and for bad years. From cost management systems, job costs and job cost reporting to the critical components of financial statements, we give you the tools to keep building your success. We can provided the confidence your vendors and lenders seek as we all try to reduce risk and increase rewards.

Call us today to speak to ELO’s team of construction industry experts. 

We work with a variety of construction firms including:

  • Commercial contractors and developers

  • Specialty trade contractors

  • Residential builders

  • Engineering firms

  • Architectural firms

Our Services:
Performances & Profitability
  • Job costing and overhead rate analysis

  • Cash flow analysis

Strategy & Management
  • M&A consulting

  • Asset/Property acquisition

  • Strategic planning

  • Estate planning

  • Succession planning and exit alternatives

  • Business valuations

  • Internal control reviews and fraud prevention

Tax Planning & Preparation
  • Tax preparation for owners

  • Business tax preparation

  • Tax strategy, planning and research

  • Entity structure analysis

  • Tax credits and incentives

  • Cost segregation analysis and related services

  • State sales, excise and use tax

Compliance & Assurance
  • Financial statement services – audits, reviews, compilations

  • Multi-state tax compliance

  • Employee benefit plan audits

  • Agreed upon procedures

Client Accounting Services & Other Outsources Services
  • Outsourced accounting and bookkeeping

  • Payroll

  • Accounting consulting and support for QuickBooks

  • Accounting software recommendations and support

Trade Associations
  • Member of Construction Financial Management Association (CFMA), Siouxland Chapter

Frequently Asked Questions

What method of accounting should be used with my construction company?


There are several methods of accounting available to the construction industry, each of which has pros and cons. The nature of your company will dictate which may be the best one for you. Some examples include cash, accrual, percentage of completion, completed contract, and accrual with deferred retainage. In addition, if you need to produce financial statements for banking or bonding purposes, you may need to use separate methods for financial reporting and tax reporting.




What deductions and credits are available for my construction company?


Currently the most significant deduction available to you is the Qualified Business Income Deduction, which is not limited to the construction industry. In addition, you may be able to utilize energy incentive deductions such as 179D, or credits like the Research & Development credit or the Work Opportunity Tax Credit.




What method of accounting should be used with my construction company?


There are several methods of accounting available to the construction industry, each of which has pros and cons. The nature of your company will dictate which may be the best one for you. Some examples include cash, accrual, percentage of completion, completed contract, and accrual with deferred retainage. In addition, if you need to produce financial statements for banking or bonding purposes, you may need to use separate methods for financial reporting and tax reporting.





Contact Matt

for more information

As a partner and practice leader, Matthew Buenzow oversees the tax department for the firm along with providing leadership in construction services. He works with contractors of all sizes to help them succeed by providing industry-leading expertise and focused business planning strategies, as well as assisting them with their tax, accounting, and financial and risk management needs. 

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