Construction Industry Tax & Accounting Services
Contractor Accounting Services
Our clients in the building industry range from smaller or individual builders to home and commercial real estate developers.
We understand the needs that are unique to the building industry and expertly handle matters including:
- Employee vs. independent contractor issues
- Structuring investment groups
- Guidance in determining which entity structure to establish (i.e. partnership, C corporation, S corporation, LLP, LLC, etc.)
- Filing tax returns for investors and related interests
- Tax planning
- Employment concerns
- Payroll taxes
- Compliance with immigration laws
- Handling of K-1, W-2, 1099 etc.
- Equipment: rent vs. buy
- Capitalization vs. expensing
- Timing of expenses and purchases and understanding depreciation
More Construction Industry Tax Information
The US Department of Labor has been keenly interested in classifications of employee and contractor, a demarcation that can be specifically challenging in the construction industry where workers are often employed by two, or even more, employers.
Last month, the Department of Labor focused on joint employment with the issuing of the Administrator’s Interpretation of the FLSA and the Migrant and Seasonal Agricultural Worker Protection Act. When it comes to joint employment, in many cases, the worker’s hours are aggregated, which can affect overtime, and all of the worker’s joint employers must comply with FLSA and MSPA. See More