Construction & Contractor CPA Services
Arizona General contractors and construction companies have unique, and often complex, needs when it comes to taxes and financial accounting. Income and expenses can vary widely from year to year, so it is important to have an experienced construction CPA firm in Phoenix Metro behind you every step of the way.
Construction Tax Services
We understand construction and the Arizona trade. The tax and accounting professionals at Sean Core CPA PLLC knows you will have ebbs and flows from year-to-year, and throughout the year, in work availability, profits and cash flows. We are also on top of the industry-specific compliance challenges that can impact your bottom line.
Here is a look at some of the many services we provide to help contractors and construction companies in Arizona maximize profits:
- Federal, state and local tax compliance and planning. We understand the planning cycle for construction CPA clients is different than that used for other industries and types of businesses, and we also know that you are subject to more than just IRS taxation and filing requirements. Through proactive planning, we will help you identify ways to make the most of your business income throughout the year, with an eye on federal, state and local tax laws. You may also be subject to sales taxes for contractors in multiple jurisdictions. If so, we will help you identify the requirements and maintain compliance with them.
- Business Tax Services and Personal tax preparation. When it’s time to file tax returns for your construction business, you can rely on our knowledge and expertise to help you make the most of all available credits and deductions- and all the accounting surrounding it. Because your business and personal tax returns are likely closely related to one another, we can handle your personal taxes as well, helping you identify opportunities you may otherwise have missed. We are also experienced in handling alternative minimum tax (AMT) planning and compliance issues and we can help you understand the implications of decisions related to estate and succession planning for your business.
- Financial analysis. By analyzing your financial statements and accounts, we can help you identify your company’s strengths and weaknesses. We will also help you understand the relationship between your fixed and variable expenses through break-even analyses.
- Look-back planning & compliance. We have the technical expertise to help you identify if you are subject to the look-back tax requirements and, if so, we will work to incorporate these requirements into the other tax planning and services we offer.
- Contractor real estate tax strategy. You may also have needs related to your business real estate transactions. We can help advise on the tax implications of real property acquisitions, property taxes, real estate investment properties, and decisions about buying versus leasing real estate.
Construction Accounting Services
The construction industry calls for a higher level of technical expertise than many other industries when it comes to tax contract matters. Contract accounting is complex; fortunately, Sean Core CPA PLLC has the knowledge and experience to help you meet these requirements and nuances head-on. Some of the construction CPA services we offer specific to contract accounting include:
- Contract element review. Construction contracts can be confusing, and certain provisions can have potentially large impacts on your taxes. Sean Core CPA PLLC can help maximize tax deferral by reviewing these elements.
- Long term contract tax regulations. Long-term construction contracts are subject to specific accounting requirements. We understand the tax accounting industry rules for recognizing income from long-term construction contracts, and we can help you stay in compliance with those requirements.
At Sean Core CPA PLLC on the Mesa/Chandler/Tempe border, we provide experience-driven consulting and planning construction CPA services for general contractors throughout the Valley. We believe in working face to face with our clients to understand the specific needs of their business. We want to know who your clients are, what your financial concerns are, and what you ultimately want out of your business. Armed with that knowledge, we will be able to help show you your businesses’ true potential.
Contact us today online, or call us at (480) 626-5043 to find out how we can help you with your construction CPA needs.