TONGUE GOES IN GROOVE
Mechanical contractors are in a highly specialized area of the construction industry. At Goldman & Co., CPAs we don’t believe in a one size, fits all, approach. Our mechanical contractors accounting services are customized to your specific needs to help you better manage your business, and increase profits.
SEVEN ESSENTIAL TRUTHS OF SUCCESSFUL HVAC CONTRACTORS:
1) Plan.
Have goals and plans and know how to achieve them. Plan for targeted sales, profits, and financing needs.
2) Manage.
Company balance sheet and income statement must be reviewed monthly to monitor performance. Successful owners are good managers of their business.
3) Communicate both inside and out of the company.
Outside: Make certain vital outside contacts know who you are and what you can do.
Inside: Make certain everyone knows how well they are performing and within the company as a whole.
4) Find and retain good people.
Ultimately you can only profit so much from your own labor. To grow and profit further you need good people.
5) Analytical tools.
Labor, cost of sales, and operating expenses can all be controlled. Use analytical tools that can be used to better manage sales, operations, and profitability.
6) Delegate.
Don’t limit you and your company’s potential by trying to do everything. You can’t do it all.
7) Be able to change.
Everything eventually changes. Learn how to change and adept. Stay open. Don’t stay same, if everything is changing.
Payroll
Variance Report
Time Reports
Laptops and Tablet Computers
Projected Job Costs
Benefits of Using Unit Costs and Unit Productivity per Hour
Purchase Orders
Time and Material Billing
Payroll for Contractors
Information and reports are tailored to each client’s unique needs.
MECHANICAL CONTRACTOR TAX PREPARATION
BUSINESS TAXES CAN BE MINIMIZED
The amount your business pays is not fixed.
You know your business. Goldman & Co., CPAs knows taxes. You’re busy managing your business. It’s our job to provide tax advice and prepare the business tax returns of our clients to comply with IRS and state filing requirements. We understand the complexities of the IRS tax code and how it can be best applied to a client’s situation. We’re specialists when it comes to minimizing taxes and business risks.
MECHANICAL CONTRACTOR INDUSTRY BUSINESS TAX PREPARATION
Any business and investment decision you make will have tax consequences.
Goldman & Co., CPAs professionals possess deep understanding of the tax laws, so that we can minimize the amount of business taxes you pay. Our services are customized to you and your business situation.
Key Business Tax Services
- Business tax preparation
- S Corporation, Regular Corporation, LLCs, Partnerships, and Sole Proprietorships
- Business tax planning
- State and local tax services
- Tax credits including historic rehabilitation credits, energy savings credits, jobs credits, other
- Year-end tax planning and multi-year projections
Key Construction Tax Services
There are specific tax issues that are unique to the construction industry. Let our experience and knowledge of the construction industry help you to take advantage of what’s available. Key construction tax services include:
- Choosing between cash and accrual method of accounting
- Classify yourself as either a small or large contractor
- Job costs and allocating indirect costs
- Percentage of completion method
- Completed contract method
- Domestic production activities deduction