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CMR Associates, LLC

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You are here: Home / Industries / Construction

Construction

Covington, Louisiana CPA Construction Industry Accounting

Accounting Services for the Construction Industry:

Effective business planning is essential to improve bottom line profitability, and build a more valuable construction business. Construction company executives require ready-access to reliable financial data, and must interpret this data at all stages of project management to run their businesses more effectively. We take a holistic and pragmatic approach when recommending and providing financial and consulting solutions for our construction clients.

We provide proactive tax and advisory solutions for construction companies, including:

TAX PLANNING & COMPLIANCE

  • Tax minimization strategies
  • Preparation of corporate federal and state tax returns
  • Integration with owners’ and/or executives’ personal tax situations
  • State and Local Tax (SALT) considerations
  • Compensation Strategies: Wages, distributions, or a combination of the two
  • Income leveling: Lower tax brackets through leveling
  • Deferral: Cash basis, completed contract, short term contract, retainage, less than 10% complete, and residential
  • Evaluate if you qualify for Domestic Production Activities Deduction (DPAD)
  • Continuous research and analysis of opportunities to maximize federal and state tax credits

PROFIT ENHANCEMENT SOLUTIONS

  • Work In Process Analysis: Understanding all the key drivers of profitability, including Customers, Geographic location, Project Manager Performance and Job Size
  • Benchmarking: Against competition and against your own performance
    • Key financial metrics analysis:
    • Working capital
    • Current ratios
    • A/R and A/P turns and days
    • Under billings to revenue
    • Revenue backlog and gross profit backlog
  • Key business development metrics:
    • Bid hit ratio
    • Proposals submitted per month
    • Leads generated
  • Estimating process evaluation: T
    • rue cost and risk-based pricing
  • Purchasing:
    • Process and vendor analysis/acceptance/prequalification
    • Competitive bid and vendor capability
  • Cost tracking: Assuring information is accurate and corresponds to job estimation process
    • Change order process: Clarity and timely customer acceptance
  • Budget to actual:
    • Project Manager coaching and estimating to evaluate job performance to plan
  • Insurance Options Review:
    • Contractor Controlled Insurance
    • Subcontractor default insurance
    • High deductible plans/self-insurance, captives
    • Contractor insurance credit, monitoring your experience MOD

The construction industry is richly diverse and dynamic, and our construction team has specialized insight and industry knowledge to help you reduce costs and improve profitability in a fiercely competitive market.

Tax Accounting and Business Consulting for Covington, Louisiana
Industry Specific Accounting for Covington, Louisiana
Covington, Louisiana CPA Services

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About Us

Covington CPA and Tax Accountants Team

Tax Accounting and Business Consulting: We provide tax accounting, payroll, 401(k), business

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TAX NEWS AND ADVICE

  • Individual Tax Advice
  • Small Business Tax Advice

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Company Profile

Charles Renwick, CPA has provided clients big and small quality accounting, tax, and business consulting services for over 15 years.  We have all the resources needed to meet your business and personal accounting needs.

Offices in Madisonville, Mandeville, Metairie, and Baton Rouge. Serving clients throughout the country.

Terms and Conditions

Accounting News and Updates

  • Want to Save Taxes? Maximize Deductions and Use the S-Corp Structure
  • IRA account value down? It might be a good time for a Roth conversion
  • Understanding and controlling the unemployment tax costs of your business
  • Watch out for tax-related scams
  • Setting up a Health Savings Account for your small business
  • Use a Coverdell ESA to help pay college, elementary and secondary school costs
  • Selling securities by year end? Avoid the wash sale rule

Book an appointment with Personnel Calendar using SetMore

Write or Call Today

CMR Associates, LLC
Charles Renwick, CPA
207 E Gibson St
Covington, LA 70433

(888) 530-5630
office@cmrtax.com

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