Construction Services GroupYou have enough to worry about – from zoning to contracts, and contractor mishaps. Don’t add accounting to the list! Corrigan Krause understands the challenges construction companies face and works with you to build a safe and solid groundwork on which you can continue building your success.
The Experts in Construction Accounting and Consulting at Corrigan Krause
From general contractors to specialized trades workers to residential homebuilders, our specialized team can identify ways to help meet your goals and objectives to achieve growth and profitability. Our Construction Services Group provides solutions and strategies that can help you take advantage of tax saving opportunities, maximize your bonding capacity, and manage your working capital.
Because of our dedication to the construction industry and our broad client base, we have respected relationships with bonding agents, sureties, banks and other financial institutions. We’ll work with you to ensure that your current financial statements are meeting the needs of your bankers, investors and underwriters.
In addition to our technical experience, our team is involved in a variety of industry organizations, including the Home Builders Association of Greater Cleveland, Construction Financial Management Association, the North Coast Building Industry Association, the National Association of Women in Construction and the Construction Employers Association.
- Audit & Accounting
- Business Advisory
- Executive/Leadership Advisory
- Tax credits and incentives
- Cost segregation services
- Cash flow optimization
- Banking and bonding advisory
- Job-Cost auditing and analysis
- Production and Inventory Control
- Workers’ Compensation Insurance Analysis
- Software selection and implementation
- WIP job cost analysis
Choose a Firm that Specializes in the Construction Industry
Construction accountants play a vital role in helping construction companies maintain financial health, comply with regulations, make informed decisions, achieve long-term financial success, and more. Our team's expertise is invaluable in managing the financial complexities unique to the construction industry. Here are just some of the ways our team can help you reach new heights:
Construction accountants help manage the financial aspects of the construction company. We track income, expenses, and cash flow, ensuring that the company operates within its budget and financial goals.
Construction companies must adhere to various financial regulations and tax laws. Construction accountants are knowledgeable about these regulations and ensure your company remains compliant, avoiding legal issues and penalties.
Construction accountants help construction companies optimize their tax strategies. They identify deductions, credits, and exemptions that can reduce the company's tax liability, ultimately saving it money.
Construction accountants prepare financial statements, such as balance sheets, income statements, and cash flow statements. These reports provide an overview of the company's financial health, which is essential for making informed business decisions and attracting investors.
Budgeting and Forecasting
Construction accountants assist in creating and managing budgets, as well as in forecasting financial performance. This helps construction companies plan for future projects and allocate resources efficiently.
Construction projects involve numerous expenses, including labor, materials, equipment, and overhead costs. Construction accountants help monitor these costs to ensure that projects stay within budget and profitability is maintained.
Payroll and Employee Benefits
Managing payroll for construction workers, including handling taxes, benefits, and compliance with labor laws, can be complex. Construction accountants ensure that payroll processes are accurate and in compliance with regulations.
Construction accountants provide valuable financial insights and analysis that assist in making strategic decisions. They can assess the financial viability of new projects, investments, and expansion plans.
Construction accountants help identify financial risks and develop strategies to mitigate them. This includes managing debt, assessing insurance needs, and creating financial contingency plans.
External parties, such as investors, lenders, or regulatory authorities, may require audits of the company's financial records. Construction accountants prepare the company for these audits and ensure that all financial data is accurate and transparent.
As construction companies expand, their financial complexities increase. Construction accountants play a crucial role in managing this growth by implementing robust financial systems and strategies.
Long-Term Financial Planning
Construction accountants help construction companies plan for their long-term financial stability and growth. They can provide advice on investments, retirement plans, and succession planning.