Construction Accounting

Building the Future of your Company

With over 30 years’ experience working with the Construction industry, Cornwell Jackson advisors understand the unique needs of your company. In today’s uncertain economy, where competition is stiff and high tax liabilities are inevitable, it pays to have trusted advisors on your side. Our commitment to your business is to provide the highest level of service. With our knowledgeable, experienced professionals and services ranging from business advisory services to tax planning, we have the resources necessary to commit and deliver the full range of accounting services to general contractors, subcontractors, and construction services companies. Our construction experts are members of CFMA and Texas Crane Owner’s Association.

Our professionals offer specialized Construction and Construction Services industry, including:

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Knowledge Base Articles:

2017 Tax Law Impacts Accounting for Long-Term Contracts

A piece of the new federal tax package addresses accounting for long-term contracts. It is the first significant piece of tax legislation for the construction industry in years. The tricky part: larger contractors won’t be affected and will continue to account for long-term contracts as they did in the past. For the majority of affected contractors, however, there may be significant tax deferment and cash management options under the new law. Eligible contractors will need to plan ahead to set up the right accounting method for new long-term contracts.


The Real Cost Savings to Look For in a Fixed Price Environment

Construction companies experience unique accounting structures due to expenses driving revenue as projects move through various stages of completion. By managing a variety of costs, maintaining safety for employees and hiring the right people, owners and project managers can improve cash flow and bid smarter on fixed price contracts.

Recent Construction Blog Articles:

How to Address Potential Construction Project Delays

It’s trite but true: time is money. And in the construction industry, this saying is particularly pertinent.If a project can’t be completed on time, it may result in penalties and other unwanted repercussions, not to mention the harm to a construction company’s reputation. And, in the worst case scenario, the firm may not get paid at … Continue reading How to Address Potential Construction Project Delays

Take Care to Meet Terms of Contracts at Risk of Default

It is one thing to disagree about certain aspects of a construction project. It’s quite another when disagreements justify the termination of a contract due to default. Prime example: In a recent case, a contractor doing work at a federal government facility faced termination for default where he repeatedly insisted on changing designs, failed to submit … Continue reading Take Care to Meet Terms of Contracts at Risk of Default

OSHA Updates and Revises its Outreach Training

The Occupational Safety and Health Administration (OSHA) has updated its Outreach Training Program, including the courses for the construction industry. Meanwhile, the Government Accountability Office (GAO) has given the courses a thumbs-up in a study, saying they’re well-designed and operating efficiently. The GAO compared OSHA’s design and evaluation efforts for its training program with leading … Continue reading OSHA Updates and Revises its Outreach Training

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Contact our Construction Specialist

Call us to arrange an appointment: 972-202-8000 or email us using the links below.

Scott Allen, Tax Partner

Scott specializes in providing a variety of services to privately-held middle market businesses, with a focus in the construction and oil and gas industries. [/su_column] [su_column class="widget"]

Client Testimonial

"They know our business. I trust them, I can sleep well at night knowing that from an accounting perspective we're not going to have any problems. I honestly believe they are genuinely happy that we're successful and they're working to help make sure that happens." Jim Schwab, CrimStone Partners

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