Industries

Construction

Many construction business owners dedicate most of their time working in the business, but few are able to devote significant time and resources to work on the business. As advisors, it is our goal to provide sound advice to the general contractors, subcontractors and home builders we serve by developing solutions for the more complex business management needs of the construction industry.

Vrakas is a member of the Construction Financial Management Association: Milwaukee & Chicago (CFMA) chapters and regularly attends construction industry specific training to stay up to date on the latest trends.

In addition to being members of CFMA, Vrakas is a proud member of: 

  • Association of General Contractors of  Wisconsin
  • Tri-County Contractors Association
  • Great Lakes Construction Association

Our experts understand the issues business owners face, including the ever-changing tax and reporting regulations, unstable surety and banking markets, labor issues, rising costs and unrelenting competition. We assist clients by increasing efficiencies in each of the four construction processes—estimating, production, accounting and analysis. We offer industry-specific business advisory services designed to increase your profitability, improve your competitive position and reduce your operating costs.

Vrakas Construction Clients by the Numbers 

  • We are proud of the growth our construction clients have realized. The following summarizes the construction work put in place for 2017/18 by Vrakas clients:
    • 2017 Construction work put in place: $   928,000,000
      2018 Construction work put in place: $1,144,000,000
  • Vrakas has assisted our construction clients with state and local tax compliance in all 50 states.
  • Vrakas has diverse construction industry experience as illustrated in the chart below.
    • Key
    • 1 – General Contractors: 49% 
    • 2 – Specialty Trade: 38% 
    • 3 – Heavy/Highway: 7% 
    • 4 – Architectural: 2% 
    • 5 – Engineering: 4% 

pie chart

 

In addition to traditional accounting, auditing and tax services, our construction specialists provide assistance in the following areas:

  • Job cost efficiency and profitability analysis
  • Federal acquisition regulations (FARS) audits (contract compliance)
  • Maximizing bonding and credit capabilities
  • Benchmarking and analytical review
  • Strategic sales and use tax planning
  • Internal control and other management recommendations

In addition, our experience with other construction companies allows us to assist you effectively with various tax issues, including:

  • Efficient, accurate and timely compliance services
  • Knowledgeable tax authority representation
  • Experienced reorganization structuring assistance
  • New entity selection assistance
  • Multi-state compliance and nexus planning
  • Cost segregation studies to maximize depreciation
  • Depreciation analysis

The Essentials of Equipment Leasing for Construction Companies

Many construction company owners spend considerable time analyzing ways to improve their organization’s cash flow to help with day-to-day operations […]

Is This Your Situation: Deciding Whether Contractors Can Claim R&D Benefits

Of particular relevance to contractors is the research and development tax credit, which is a tax incentive program. Also known […]

Code Sec. 199 – Planning for the Construction Industry

Code Sec. 199 allows taxpayers a deduction based upon gross receipts derived from qualifying production property manufactured in the United […]