Construction Tax Services

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How We Help

Construction Companies

Polston Tax is a network of certified public accountants (CPAs) and tax attorneys experienced in financial matters relevant to taxes in the construction businesses. Businesses, contractors and sub-contractors in the construction industry grapple with elaborate reporting and tax requirements. 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 financial records and tax obligations. Polston Tax will insulate you against violations and defend your interest during Internal Revenue Service (IRS).

Contact Us

Maximize Your Construction Tax Returns

Your construction company works on numerous projects, including housing and commercial buildings. Tax credits help you reduce money from owed taxes. It’s best to consult with tax professionals to fully understand the opportunities at the federal and state levels. Our team can help you find advanced strategies to reduce your tax bill. 

Individual states also contribute various incentives that may apply to construction businesses, including for actions like:

  • Installing solar systems on new construction
  • Redeveloping brownfield sites
  • Preserving historic properties

As a construction company, you may qualify for various federal credits, including:

  • Fuel Tax Credit (FTC): If you operate off-highway machinery for business use, you can subtract from your taxes for that equipment. Equipment like bulldozers and earthmovers are used to prepare construction sites.  
  • Rehabilitation credit: Renovating historic buildings qualifies you for an incentive that covers 20% of qualified expenses you incur during the process.
  • Low-income housing tax credit: You may get this perk if you build or rehabilitate rental housing for low-income households. This incentive encourages builders to create affordable housing.
  • Work Opportunity Tax Credit (WOTC): Your construction business may qualify for a reduction if you employ those from groups who have previously faced employment barriers. These individuals include certain veterans, ex-felons and people who have faced long-term unemployment. 
Navigating the 2024 Tax Season

Our Services

for Construction Companies 

Polston Tax provides construction accounting services and tax resolution support for the construction industry. Partner with us to ensure accurate revenue reporting, compliant expense deduction and just tax fulfillment. 

We can consult and collaborate with you to align your construction business with generally accepted accounting principles (GAAP). Our services improve the accuracy of tax reports and will establish a clearer understanding of your financial picture.

Tax Planning and Record-Keeping 

We can consult and collaborate with you to align your construction business with generally accepted accounting principles (GAAP). 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. By following specific practices for reporting deferred and partial payments, we help businesses meet reporting requirements unique to construction. 

Polston Tax strengthens reporting infrastructures to streamline construction industry tax filing. Our precise implementation of progress billing, retention accounting and other intricate strategies ensures companies pay the correct amount in taxes, even when fulfilling long-term contracts.

Polston Tax prepares all tax documents relevant to construction companies and contractors. We distribute and file IRS forms such as Form W-2, Form W-4, Form 941, Form 940 and others as needed. 

Polston Tax develops optimal tax strategies for companies in the construction industry. We will advance your comprehension of the taxes your business may owe — such as sales tax, use tax, payroll tax and excise tax — and pinpoint deduction opportunities available within Section 179.

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Why Polston Tax? 

With an exclusive focus on tax resolution and planning, we are a premier choice for any construction company, contractor or sub-contractor. We maintain a nationwide network of attorneys and accountants who understand requirements in your industry and how they vary across state lines. The case managers, tax attorneys and accountants within our firm collaborate in ways that will streamline your plan development or tax resolution. 

Our approach has made a tangible difference in the financial health of commercial construction companies of various sizes, earning our business accolades such as an A+ rating from the Better Business Bureau. 

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