Although it’s tempting to stick with the same trusted bookkeeper you know and love, the complexity of construction bidding and cash flow could prevent you from receiving the construction business profits you deserve. As your company grows, hiring an experienced construction CPA and advisory team is worth the investment in the following ways:
- Know where your company’s cash is getting hung up and how you can improve its flow;
- Be sure your financial statements balance so it doesn’t become a red flag for bidding and financing;
- Identify areas of tax savings;
- Help you manage your risk through adequate insurance and proper contacts.
Working with a construction specific CPA provides you with real time knowledge of your payables or cash flow when you need to invest in new equipment or make a decision as to what salary you can extend to a new employee. You can make these decisions in a more informed and timely manner.
Our team of CPAs and advisors has years of serving the industry which have given us an understanding of what you’re up against. We help you stay focused and organized by addressing all of the financial needs of your business.
In the following video, Long Island CPA and Partner Robert E. White offers tips for sustaining liquidity during construction jobs, and also how a CPA can help with lender relationships.
Although you may not need a CPA on staff full-time, engaging with a CPA regularly through the year can be a game changer. Our CPAs and advisors offer a variety of approaches to help construction companies boost profits and manage risk.