Helping you develop plans to build a solid financial future.
The construction and real estate industries are notoriously high pressure and continually evolving. New pressures and unique challenges arise daily, which can consume your time and derail planning. When trying to successfully manage and grow a business in these volatile conditions, it’s important to have a team of professionals to rely on who understand the demands and regulations you face. This allows you to focus confidently on your clients, projects and generating new opportunities.
Our professional advisors are knowledgeable and experienced with the ever-changing details of the tax methods, financial reporting options, regulations, compliance and all the important issues affecting the construction and real estate industry. We build trusting relationships with each of our clients, helping them overcome their challenges and achieve their goals.
With our extensive offering of financial services, we can help you with all aspects of protecting and expanding your business, whether you are looking to:
- Reduce your tax burden
- Conduct a construction cost audit
- Perform a cost segregation study
- Take advantage of energy efficiency incentives
- Benefit from R&D tax credits
- Stay compliant with state and local tax laws
- Assist with payroll and compliance
- Prevent and detect fraud
- Incorporate technology solutions
- Capture and make sense of your data
- Transition your business
The construction and real estate industries are complex and changing rapidly. In addition, the government creates new tax credits and deductions to help business profitability. Our team of advisors can help you navigate industry challenges and take advantage of tax-saving opportunities to build a strong future. Let’s talk.
What Our Clients Say
The hard work and effort of the Eide Bailly team has allowed us to have great confidence in our projections and financial analysis reports. Eide Bailly has given us hope for our future when we had none. We have gone from a big loss in one year to an estimated 30% gross profit margin the next, all with the help and guidance of our Eide Bailly team."
When Eide Bailly began working with us, they examined our tax returns from three years ago so they would better understand our business and future needs. The tax team has done an excellent job showing us ways to save on taxes and even finding us tax credits. They have saved us hundreds of thousands of dollars!"
Eide Bailly has shown a genuine desire to understand our company structure, the work we perform and our business goals as owners. They are genuinely caring advisors."
"The tax deduction is the ultimate benefit of the 179D deduction, but the most substantive thing about going through the process with Eide Bailly was that they did all of the heavy lifting. I do construction, and that's where my time is most effectively applied. I'd prefer not to do accounting exercises. Eide Bailly was explicit in telling me exactly what they needed from me so I could be very efficient in getting information to them. Then they did all of the work so that I didn't have to take time away from my day-to-day duties."
What We Offer
Construction and Real Estate Services
With 150 construction-specific CPAs and more than 1,900 clients in Eide Bailly’s Construction and Real Estate practice, our team is a proven leader in the industry. We were also ranked #9 as a Top 50 Construction Accounting firm in 2020 by Construction Executive magazine. We have a strong history of helping our clients save money and make smart business decisions.
A strong accounting function can provide valuable insights about a construction company’s operations and can help minimize risks. Our team of advisors are passionate about the industry they represent and strive to help businesses reduce their tax burden, stay compliant and build a solid financial future. In addition to providing professional services that you would expect from a CPA firm, we help our clients with many other services to position them for success.
Data Analytics
The day-to-day issues that arise in your business can easily take up most of your time. But if you are operating your business based only on financial statements, you are missing out on significant insights that can help drive significant growth.
Think of your data as a strategic asset. Businesses tend to operate in silos, and it’s important to understand how helpful accounting can be for operations, for the people out on the jobsite, and to aid in better decision-making. Without good data analytics, operating your construction accounting can lead to a breakdown of communication and missed opportunities.
Construction Cost Audit Services
As the construction industry continues to push for the use of Construction Manager at Risk (CMAR) contracts with a gross maximum price (GMP), there is an increased need to understand exactly how these contracts are structured. It’s important to feel confident in your CMAR contracts.
Each CMAR contract is unique with its own set of cost “pools” that come with their own compliance attributes, which can get complex. In addition, the structure of these contracts has the potential to incentivize the inflation of certain costs by the construction manager.
Our construction cost audit services can customize an “audit” of your contracts and ensure they are compliant, and you understand how they are structured. You’ll receive an easy-to-understand report to help you feel confident in your contracts.
Cost Segregation Study
Your real estate assets may have hidden value. Your building is a key asset, and with any major investment, you want to get the best return and reduce your tax burden. But do you know how you can:
- Maximize your return?
- Reduce your taxes and increase your cash flow?
- Accelerate the depreciation deductions of your building's assets?
Through a cost segregation study, you can accomplish all three of these goals. The study examines the assets of your building and identifies those that can be depreciated over different and faster recovery periods than if they remained classified as residential real property (27.5 years) or nonresidential real property (39 years). For example, some assets can be categorized as land improvements (15 years) or items whose sole purpose is not for the operation and maintenance of the building but for equipment use (5-7 years).
Our cost segregation work is done by a qualified team of cost segregation specialists with extensive construction and tax backgrounds. We complete a thorough site visit, review the building plans, and analyze cost detail for the building to determine what assets can be reclassified to shorter depreciable recovery periods. We'll work closely with you throughout the process to ensure you are getting the greatest benefit.
We Can Help
Eide Bailly is proud to be recognized as a leader in the construction and real estate industry. We are passionate about continuing to serve our clients and build their business for success.
Why Choose Eide Bailly to be your Partner?
- Team of over 150 construction-specific CPAs representing over 1,800 clients
- Client-focused relationships built on trust, driven by results
- Ranked #9 in Top 50 Construction Accounting Firm
- Top 25 CPA firm with more than 40 offices in the U.S. & India
WHAT INSPIRES YOU?
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Inspired Perspectives 2022
Interested in learning more about growth and success, compliance issues, the year ahead and more? Join us for one or all of our educational/informational webinars designed to keep our clients, colleagues and friends informed on innovative business and tax strategies. The tools and resources presented will help businesses and individuals make informed decisions and remain successful in a competitive and ever-changing marketplace.
Now is a good time to start developing plans to build a solid financial future.