Construction companies require complex tax and reporting. Use of contractors, sub-contractors, employees, and other contract labor makes books for construction firms more complicated than many other types of businesses. In addition to the employee designations and payouts, there’s payroll and revenue recognition that must be filed. At SMP we can consult on the proper method of declaring revenue for your construction business through cash or accrual. We can help you track and report on long-term and short-term projects.

Construction firms must maintain strict reporting on completion of projects, equipment maintained, depreciation on equipment, and a much more. That’s a lot to handle if you don’t have a financial background.

We also work with start-up companies in helping them understand the classification for when an employee is considered full-time and when you can consider them a contractor. We advise on issues surrounding workmen’s comp and other business consulting services. At SMP our business consultants understand the requirements behind government-awarded contracts and can help your business stay in compliance with their specifications.

We work with commercial construction companies and home construction. Call SMP today to address your construction business needs.