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Construction Accounting Tax Services

Big dollars and big risks -- sounds like construction to us! At Conner Ash, our team members are experienced in assisting general contractors and subcontractors meet the unique challenges in their worlds. Especially in this time of shifting markets and never-ending regulatory changes, we support contractors with cash flow management, financial and operational planning, tax planning, succession, etc.

Following are some of the services that Conner Ash P.C. can provide to construction companies:

Financial Reporting

  • Audit, review or compilation of financial statements
    • An audit provides the highest degree of assurance than an organization's financial statements accurately represent its financial position and follow Generally Accepted Accounting Principles (GAAP)
    • A review provides less assurance than an audit; it involves applying analytical procedures to financial data and making inquiries of management
    • With a compilation, a CPA prepares financial statement based solely on the data provided by the client
  • HUD audits
  • Cash flow management

Tax Planning and Compliance

  • Assistance with real estate acquisitions and decisions on type of entity
  • Structuring of like-kind exchanges
  • Specialized advice on partnership taxation including 704(b) allocations, allocations of liabilities and 754 adjustments
  • Reduction of tax burden for multi-state operations
  • Prompt preparation of partnership, S Corp and LLC income tax returns so K-1's can be provided timely

Consulting Services

  • Access to cost segregation studies for use in depreciation planning of constructed buildings
  • Accounting systems and software consulting
    • Sage 100 (formerly MAS 90 and 200)
    • Sage 50 (formerly Peachtree)
    • QuickBooks
  • Internal control and fraud prevention
    • Fraud check-up
    • Internal control review
    • Internal control improvement consulting'
  • Succession planning

To learn more about the construction accounting services our experts can provide you, contact Jim Gentry at (314) 205-2510.

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