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Tax Planning for Contractors: Completed Contract vs. Percentage of Completion Method
For construction owners, general contractors, and subcontractors selecting the correct accounting method isn't just a compliance checkbox, it's the primary financial strategy for optimizing your cash flow, securing bonding capacity, and maintaining working capital when you need it most. Two methods dominate the construction accounting landscape: Completed Contract Method (CCM): Â Defers all profit recognition until the project reaches 100% completion, maximizing tax deferral a
7 days ago7 min read
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Construction Payroll Taxes: What You Need to File and When
If you want to run a construction business that follows all the rules set by the federal and state governments, you need to pay...
May 304 min read
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Managing Retainage and Its Impact on Construction Tax Liabilities
As a construction bookkeeping professional, one of the most misunderstood areas I’ve seen among contractors is managing retainage—and...
May 265 min read
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Tax Planning Tips for Small Construction Business Owners
Small construction businesses operate in one of the most dynamic and complex sectors of the economy. With fluctuating material costs,...
May 224 min read
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Common COGS Accounting Mistakes That Could Trigger an IRS Audit
As a contractor, you're accustomed to handling a large number of moving parts - labor costs, material purchases, and the day-to-day...
Apr 115 min read
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Understanding Tax Codes and Their Impact on the Construction Industry
Tax rules might be intimidating, but they play an important part in how construction companies run financially. Knowing the correct tax...
Mar 284 min read
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5 Common Tax Mistakes Construction Companies Should Avoid
Running a construction company is difficult because there are so many moving pieces, from project management to financial planning. Taxes...
Jan 223 min read
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2025 Tax Deadlines Every Construction Business Owner Needs to Know
Navigating tax season can feel overwhelming, especially for construction business owners juggling projects, payroll, and compliance....
Jan 203 min read
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How Long Should Contractors Keep Tax Records
As a contractor, keeping track of your money is just as important as finishing projects on time. Keeping good tax records not only helps...
Dec 13, 20244 min read
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Essential Strategies for Construction Business Owner during Tax Season
Tax season can be a challenging time for construction business owners, but with the right strategies and careful planning, it can become...
Jan 4, 20244 min read
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Most Common Tax Deductions for Construction Contractors
For Small to Mid-Sized Construction Contractors in today's volatile industry, aggressively slashing your tax bill isn't just smart business, it's essential for survival and growth. With rising material costs and labor shortages, leveraging every possible construction tax saving  is the key to boosting cash flow and reinvesting in your future. The Urgency is Now: IRS rules are evolving rapidly under new legislation like the OBBBA 2025 . Missing out on these specialized deducti
Jun 20, 20224 min read
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5 Year-End Tax Strategies for Construction Companies
Working in the construction industry requires meticulous attention to tax details when you have to invest in tax planning throughout the...
Apr 14, 20223 min read
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