MP has extensive experience helping construction businesses navigate the unique accounting needs and tax opportunities of the industry, including contract accounting, overhead allocation, cash flow planning, asset impairment evaluations, joint ventures, and revenue recognition.
Our specialized services address specific challenges within the construction industry. For example, a cost segregation study identifies property and equipment that may qualify for shortened tax lives, and therefore accelerate tax depreciation and reduce current income tax obligations. Construction businesses also may benefit from the completed contracted method of accounting, which enables the company to defer reporting income and related expenses until a contract is complete.
With years of experience providing specialized services to construction companies, we are proud to serve as a trusted advisor that helps identify tax opportunities and navigate the complex accounting challenges faced by the construction industry.
MP offers a variety of tax and accounting services to construction businesses, in areas including:
- Revenue recognition
- Contract accounting, percentage of completion, completed contract
- Cash flow planning
- Overhead allocation strategies
- Employee and independent contractor issues
- Cost segregation studies
- Asset impairment evaluations and considerations
- Joint venture structure and reporting
One Monarch Place, Suite 900
Springfield, MA 01144
55 Old Bedford Road, Suite 206
Lincoln, MA 01773
One Barnard Lane, Suite 103
Bloomfield, CT 06002