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Construction Industry Services

Contractors operate in a highly complex business environment.  In order to meet the challenges that confront your business, you need all of the competitive advantages that an experienced accounting firm can provide. Lougen, Valenti, Bookbinder & Weintraub, LLP (LVBW) can bring value to your company by helping you to maximize bonding capacity, select the most advantageous tax strategies, and choose from financing alternatives.

Our services to contractors are based upon many years of servicing clients in the construction industry.  Our professionals are skilled in the accounting rules, and tax laws and regulations which impact construction contractors.

• Income Tax Planning – LVBW has an in-depth knowledge of the tax accounting methods which apply to construction businesses.  We can help you determine which methods apply to your company (i.e., completed contract vs. percentage of completion) to maximize your tax savings.
  
  
• Specialized Financial Accounting -  LVBW has experience and expertise with AICPA statement of Position 81-1, “Accounting for Performance of Construction – Type and Certain Production – Type contracts”, as updated, which governs the financial accounting for construction.
  
  
• Bonding – Our professionals can help you with your financial statement presentation and disclosure including all contractor requirements that your sureties are looking for, and assist you in maximizing your bonding capacity.  We are also happy to attend meetings with your bonding agents and sureties, which serves to reduce your anxiety and increase your surety’s understanding of your business.
  
  
• Financing – LVBW can help you choose the optimal financing from the various alternatives available.  This may include analyzing short term vs. long term debt and rent or buy decisions with respect to equipment.
  
  
• Operational Issues – We can help you operate your business more efficiently.  Our services include reviewing your bidding process, overhead allocation and inventory control review, assistance with fraud prevention and software selection.
  
  
• Estate and Succession Planning – Our experience and expertise in estate and succession planning can help you transfer an ownership interest to the next generation, structure buy-sell agreements between co-owners, and prepare business valuations to support gifts or other transfers of ownership interests.

• Cost Segregation Studies – A cost segregation study of a planned facility identifies construction related costs that qualify for shorter depreciation lives, thus providing better cash flow for the project.  A cost segregation study performed by LVBW could benefit both you and your customers by improving the cash flow from a particular construction project. » More