Polston Tax has a team of tax attorneys and certified public accountants (CPAs) who are experienced in financial matters relevant to taxes in the construction business. We focus on supporting small companies and self-employed individuals in the industry. Common clients include contract laborers, home builders, bricklayers and landscapers. We handle complex reporting and tax requirements so you can focus more time on what you do best.
Our professionals grasp the distinct bookkeeping ramifications and tax obligations that stem from the industry’s project-based nature. We will develop an individualized solution for your construction project’s financial records and tax obligations. Polston Tax will insulate you against violations and defend your interests before the Internal Revenue Service (IRS).
As a construction contractor or small company, you may take on numerous projects, such as custom homes, chimney building, irrigation system installation and site preparation. Tax credits help you reduce the amount of money owed in taxes. It’s best to consult with tax professionals to fully understand the opportunities offered by national and state governments. Our team identifies advanced strategies to reduce your tax bill.
Individual states also contribute various incentives that may apply to construction businesses, including for actions like:
Polston Tax can help your small construction company handle financials and taxes with accounting and tax resolution. Partner with us to ensure accurate revenue reporting, compliant expense deduction and just tax fulfillment.
We provide numerous small business services, from monthly bookkeeping to tax return and 1099 preparation, using our knowledge to help lower tax obligations while meeting regulations. Our services improve the accuracy of tax reports and will establish a clearer understanding of your financial picture.
We can consult and collaborate with you to simplify cost and income tracking. Our services improve the accuracy of financial reports and will establish a clearer understanding of your financial picture.
Polston Tax will maintain precise accounting records through diligent job costing, progress billing, retention accounting or cash accounting. Our expertise enables us to establish and maintain an effective system that addresses your challenges. By following specific practices for reporting deferred and partial payments, we help businesses meet reporting requirements unique to construction. If you have employees, we can manage payroll, or we can track owner draws for self-employed contractors.
Polston Tax strengthens reporting infrastructures to streamline construction industry tax services. Our precise implementation of progress billing, retention accounting and other strategies ensures you pay the correct amount in taxes, even when fulfilling long-term contracts. We can also help you handle tax forms like 1099 reporting for subcontractors and sales tax reporting for materials. Through ongoing reporting, we help you avoid year-end surprises and take advantage of applicable tax benefits.
We can help you organize and review financial documents like project invoices, material receipts and subcontractor payments, helping properly categorize costs. Our services also include ensuring compliance with 1099 reporting requirements. We also navigate deductions like vehicle expenses and equipment depreciation, determining which qualify for immediate write-offs and which need to be depreciated over time.
We can work with you year-round to minimize tax liability and increase profitability. Our tax planning knowledge helps you understand the tax implications of equipment purchases, project completion dates, fluctuating seasonal income and other everyday situations among self-employed contractors or small businesses.
With an exclusive focus on tax resolution and planning, we are a reliable choice for any small construction company, contractor or subcontractor. At Polston Tax in Moore, Oklahoma, we maintain a nationwide network of financial and tax professionals who understand your industry’s requirements, including unique situations like project-based income and expenses.
Our nationwide presence means we know how tax regulations vary in different areas. We can provide tailored expertise that suits wherever you work. Our team stays updated with tax law changes so you always have the most recent advice. The case managers, accountants and tax attorneys within our firm collaborate to streamline your financial management and tax compliance.
Our approach has made a tangible difference in the financial health of construction businesses, earning us accolades such as an A rating from the Better Business Bureau. Our company has existed since 2001, giving us an in-depth perspective on the tax and accounting industry.
Our team will leverage extensive construction industry experience to support your business. If you need help, contact us online and schedule your free consultation.
