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:
- Assistance with Bonding and Surety Issues
- Audit, Review or Compilation of Financial Statements
- Benchmarking Analysis
- Business Succession Planning
- Business Valuations and Litigation Support
- Cash Flow Projections and Analysis
- CFO/Controller Services
- Due Diligence
- Employee Benefit Plan Audits
- Estate Planning
- Financial Strategy Planning
- Financing Solutions
- WIP Schedules
- Interim bookkeeping Services
- Internal Controls and Reporting
- Job-Costing Systems and Job Profitability Planning
- Mergers and Acquisitions
- Navigating the Tax Code for Specialized Contractor Issues
- Outsourced Accounting Services
- Overhead Rates and Allocations
- Specialized Knowledge of Construction Accounting
- Tax-Favored Transactional Structures
- Wealth Strategies
- Year-round Construction Tax Planning and Analysis
Knowledge Base Articles:
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.
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:
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
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
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
Contact our Construction Specialist
Call us to arrange an appointment: 972-202-8000 or email us using the links below.
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.
“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