Marcum LLP's Construction Services Group is dedicated to assisting contractors with personalized and attentive service, strong technical expertise, and uncompromising integrity. Regulations related to the construction industry can be complex, making compliance with these laws an ongoing challenge.
Marcum is committed to the growth and success of its clients by providing strategic and timely accounting, consulting, and taxation services designed to help build a more profitable and valuable construction enterprise. In addition, we offer computer network implementation and security and executive planning.
Companies involved in long-term contracting face a world of intricate challenges, issues and obstacles in today's changing economy. There is a critical need for these companies to engage professionals that understand contract accounting and the elements of a construction project. Our contracting experts can help you anticipate major issues and understand the industry specific needs that construction companies face.
Our National Construction Industry Services group members are called upon to testify as experts in their field, are frequent contributors to professional trade publications and are sought after speakers on topics concerning long-term contract accounting by the AICPA and other organizations.
Among the country's foremost experts on accounting, tax and business issues in construction, Marcum's Partners and Directors are technical reviewers of the AICPA Audit Risk Alert, Construction Contractors Industry Developments, and the AICPA Audit and Accounting Guide for Construction Contractors.
Marcum LLP is a premier provider of full service accounting, tax and consulting services to the construction industry. Our clients range from small contractors to billion dollar international construction organizations. Our client base gives us the breadth and depth of construction experience to effectively and efficiently develop the strategies needed to meet your requirements.
Construction Industry Accounting & Auditing Services
- Audits, reviews & compilations of financial statements of public & private companies.
- SSAE 16 audits.
- Internal audits.
- Pension & benefit plan review & audits (ERISA).
- Financial forecasts & projections.
- Internal controls review & design.
- Due diligence on acquisitions/divestitures.
- Custom assurance services.
- Mergers & acquisitions.
- Operational auditing.
- Accounting outsourcing.
Construction Industry Tax Services
- Tax deferral maximization through contract element review.
- Long-term construction contracts.
- Alternative minimum tax planning.
- Look-back planning & compliance.
- Cost allocation.
- Federal, state & local tax planning.
- Estate & succession planning.
- IRS examination assistance.
- Tax preparation for owners & businesses.
- Tax compliance and planning.
- Planning for long term contract tax regulations.
- Evaluation of the various options for reporting taxable income on construction contracts.
- Cost segregation studies and related services.
- Multi-state tax consulting and return preparation.
- Minimization of company sales and use tax obligations.
- Consulting services.
- Financial analysis.
- Job-costing management systems.
- Cost control report analysis.
- Maximizing a company's bonding capacity.
- Controlling costs and establishing internal controls.
- Establishing and monitoring job costs procedures.
Construction Industry Consulting Services
- Surety credit & bank financing assistance.
- Valuation services.
- Business acquisition and sale.
- Forensic accounting.
- Fraud investigations.
- Litigation support/expert testimony.
- Claims consulting.
- Strategic planning & profit enhancement.
Construction Fund Management Services
- Accounting and administration.
- Opening and maintaining bank accounts.
- Setting up client access to accounts.
- Reviewing proof of claims and determining correct payments.
- Looking beyond the payment required.
- Writing and processing checks with signatures.
- Identification of fraudulent and preferential transfers and payments.
- Returning undistributed funds.
- Accounting and internal control assessment.
- Performing monthly bank reconciliations.
- Fraud investigation.
- Escrow agent.
- Paying agent.
Surety Bond Investigations
- Financial analysis of principal.
- Claims evaluation/administration.
- Indemnity investigations/sources of recovery.
- Monitoring project progress/cost estimates.
- Litigation support/principal tax issues.
- Administration of trust/escrow accounts.
- Cash flow analysis.
- Underwriting support.
- Airport, bridge & highway contractors.
- Casino builders.
- Cesspools and drainage.
- Colleges & universities.
- Dry wall.
- Tree services.
- Tunnel construction.
- Underwater construction.
- Electric & gas utilities.
- Environmental remediation.
- Heating, ventilation, & air conditioning.
- Mechanical and heavy highway.
- Commercial construction.
- Design build construction.
- Road & heavy construction.
- Residential construction.
- Suppliers for contractors.
- Specialty Contractors, including:
- Steel erectors.
Internal controls stem from the idea that no one individual should have complete control over a given transaction process and that there should be proper ....
February 13, 2017
Construction Executive's Managing Your Business published an article by Assurance Supervisor William Simon offering tips about measuring and maximizing cash flow in a construction business.
A contracting business is a living, breathing organism that needs to be fed. If unhealthy, that organism will put tight constraints on a contractor's ability ....
February 01, 2017
Construction Group Leader Joseph Natarelli and Chief Construction Economist Anirban Basu continue their article series for Construction Accounting & Taxation, with an outlook for construction spending under President Trump.
The construction spending outlook for 2017 has improved with the election. Economists, pundits, and most of the United States have been puzzling over what the ....
January 18, 2017
Tax Directors Joseph Molloy and Igor Bochenkov wrote about how construction contractors can use tax deferrals to keep more cash on hand, for Construction Executive’s Managing Your Business.
Cash is essential to running day-to-day operations and improving a company’s financial position when presented to banks and other creditors, so contractors continue to search ....
January 09, 2017
Construction Contracts: Tax Planning Opportunities
When it comes to construction contracts and the IRS, the rules can be very complex. The IRS specifically addresses tax matters and construction industry
issues within ....
December 01, 2016
Construction Accounting & Taxation published the final 2017 column by National Construction Leader Joe Natarelli and Chief Construction Economist Anirban Basu, in the November/December issue.
Shortfalls in construction workers will produce ever-rising costs, making it that much more difficult for communities to improve their respective build environments and for the ....
The Marcum Commercial Construction Index for the third quarter of 2016, released today, highlights the continued spending weakness in nonresidential construction during the first nine ....
With Thanksgiving just days away, we're taking a look past global turmoil and the recent
divisive election to focus on how the construction industry is giving ....
Those who make buildings more energy-efficient might be missing out on an often overlooked provision of the tax code.
The construction industry pays the highest effective tax rate of any sector of the economy. Given that reality, contractors should be proactive in tax planning, ....
August 18, 2016
Article from Joe Natarelli, national leader of the Construction Services Practice group, and Anirban Basu, chief construction economist, appeared in the July/August issue of Construction Accounting & Taxation.
Partially lost amidst all the discussion of Brexit and volatile financial markets is evidence that the U.S. economy continues to expand. Construction remains one of ....
June 01, 2016
Construction Partner-in-Charge Joe Natarelli and Chief Economist Anirban Basu wrote about the importance of increasing diversity in the national construction workforce, in an article for the May/June issue of Construction Accounting & Taxation.
Americans are deeply divided on many issues - something that has become increasingly apparent during the ongoing presidential election cycle. The dimensions along which these ....
April 01, 2016
National Construction Leader Joe Natarelli and Chief Construction Economist Anirban Basu kicked off their 2016 article series for Construction Accounting & Taxation, in the March-April issue.
The prior three recoveries lasted 95 months on average - this one is 80 months old already. Meanwhile, the Japanese economy is so weak that ....
The Construction Services Practice of Marcum LLP, a top national accounting and advisory firm, today released the results of its third annual analysis of construction ....
Nonresidential construction spending fell in December 2015 but concluded with a year-over-year gain, reports the Marcum Commercial Construction Index for Fourth Quarter 2015. The ....
Nonresidential construction spending fell in December 2015 but concluded with a year-over-year gain, reports the Marcum Commercial Construction Index for Fourth Quarter 2015.
Marcum LLP, a top national accounting and advisory firm, was awarded Associate of the Year by Associated Builders & Contractors of Connecticut. In addition, ....
Now that the economy finally appears to be headed in the right direction, many contractors are thinking about hiring talent, acquiring bonding and raising capital ....
December 21, 2015
Article by National Construction Industry Leader Joseph Natarelli and Chief Construction Economist Anirban Basu completes Marcum's 2015 series for Construction Accounting & Taxation, in the November/December issue.
This was not a terrible year. About a year ago, we indicated that 2015 was poised to be the best year of the recovery thus ....
November 30, 2015
Marcum LLP Merges with DGLF CPAs & Business Advisors
Marcum LLP, a top national accounting and advisory services firm, announced today that it will merge with DGLF CPAs & Business Advisors, a full-service accounting ....
The Marcum Commercial Construction Index for the third quarter of 2015 reports the most optimistic outlook for nonresidential construction spending since before the recession of ....
October 10, 2015
Article by Joseph Natarelli, National Construction Industry Group Leader, and Anirban Basu, Marcum's Chief Construction Economist, "Just How Severe Are Those Construction Labor Shortages?," Featured in Construction Accounting & Taxation
Conventional wisdom holds that there are large skill shortages facing the U.S. construction industry now and into the future. Underlying this wisdom is a set ....
The Marcum Commercial Construction Index for the second quarter of 2015 found that nonresidential construction is in vigorous recovery, with $686.9 billion spent in June ....
August 14, 2015
Article by Joseph Natarelli, National Construction Industry Group Leader, and Anirban Basu, Chief Construction Economist, "The Good, the Bad, and the Inflationary," Featured in Construction Accounting and Taxation
This year is supposed to be the year that the U.S. economic recovery kicks into high gear. Of course, last year was, too. So ....
June 18, 2015
Article by Joseph Natarelli, National Construction Industry Group Leader, and Anirban Basu, Marcum's Chief Construction Economist, "2015 Remains Filled With Promise," Featured in Construction Accounting & Taxation
Coming into 2015, many economists were forecasting above 3 percent growth. Some still are. Tailwinds, such as a booming stock market, lower fuel prices, rapid ....
The Marcum Commercial Construction Index forecasts that, despite a disappointing first quarter, the U.S. economy will strengthen in the second quarter and throughout the remainder ....
The Construction Services Practice of Marcum LLP, a top national accounting and advisory firm, today released the results of its second annual analysis of construction ....
Total nonresidential construction spending was 6.6 percent higher in 2014 than in 2013 on a nonseasonally adjusted basis, with all signs pointing toward
February 20, 2015
Article by Joseph Natarelli, National Construction Industry Group Leader, and Anirban Basu, Marcum's Chief Construction Economist, "Construction Industry Finally Hitting Stride," Featured in Construction Accounting & Taxation
After a challenging start to the year, the nation's economy came racing back as the final snows melted in early 2014. Construction projects that were ....
Total nonresidential construction spending was 6.6 percent higher in 2014 than in 2013 on a nonseasonally adjusted basis, with all signs pointing toward continued construction ....
February 09, 2015
Article by Robert Mercado, Assurance Services Partner & James Miller, Assurance Services Sr. Manager, "New Revenue Recognition Standards Require Contractors to Think Differently," Featured in Construction Accounting and Taxation
After nearly 1,000 comment letter s, with 350 letters from the construction industry alone, the International Accounting Standards Board (IASB) and the Financial Accounting Standards ....
February 01, 2015
Article by Joseph Natarelli, National Construction Industry Group Leader & Anirban Basu, Chief Construction Economist, "Construction Industry Finally Hitting Stride," Featured in Construction Accounting and Taxation
After a challenging start to the year, the nation's economy came racing back as the final snows melted in early 2014. Construction projects that were ....
While there is some dispute about who uttered the famous encouragement to business leaders to "Do well by doing good," there's no debate about its ....
The third quarter of 2014 marked the end of the regularly alternating economic pattern between positive and negative growth quarters, according to the Marcum Commercial ....
Over 250 construction contractors and allied service providers from across the Northeast convened at the 2nd annual Marcum Commercial Construction Summit yesterday at the Omni ....
The economy appears to be back on track after a brutal winter derailed recovery efforts in the first quarter. According to the preliminary estimate from ....
August 01, 2014
Article by Joseph Natarelli, National Construction Industry Group Leader, and Anirban Basu, Marcum's Chief Construction Economist, "Smooth Construction Industry Recovery Remains Elusive," Featured in Construction Accounting & Taxation
Any momentum garnered during the final six months of 2013 was stymied by the brutal winter of 2013-14. According to the third estimate from the ....
May 21, 2014
Joseph Natarelli, National Construction Industry Group Leader, and Anirban Basu, Marcum's Chief Construction Economist, Quoted in CPA Practice Advisor Article, "Commercial Construction Slows in Q1, But Growth Expected"
The Marcum Commercial Construction Index for the first quarter of 2014 shows that extreme winter weather conditions suppressed nonresidential construction activity during the period, with ....
The Marcum Commercial Construction Index today reported that extreme winter weather conditions suppressed nonresidential construction activity in the first quarter of 2014, with spending ....
The Construction Services Practice of Marcum LLP, a top national accounting and advisory firm, today released the results of its first annual analysis of construction ....
The Marcum Commercial Construction Index for the fourth quarter of 2013 today rounded out the year by reporting that economic recovery in the nonresidential construction ....
August 05, 2013
Joseph Natarelli, National Construction Industry Group Leader & Barry Fischman, Tax & Business Services Partner, Article "Financial Vs. Income Tax Reporting" Featured in Construction Executive
Many contractors wonder why the amount of net income on their financial statements differs from the amount of taxable income on their tax returns. Simply ....
May 01, 2013
Joseph Natarelli, National Construction Industry Leader & Partner-In-Charge of the New Haven Office, Featured in Construction Business Owner Article "Examining Your Financials: Ask the Experts"
Q: What are the most important financial and accounting concerns for contractors who have just begun to experience a heavier workload?
December 31, 2012
Joseph Natarelli, National Construction Industry Leader & Partner-In-Charge of the New Haven Office, Article "Vacancy Rates a Drag on Construction Sector" Featured in Hartford Business Journal's Metro Hartford Trends Report
The day-to-day economics of the construction business can be observed on development sites in towns and cities across the state and the country. While new ....
Accounting and advisory firm Marcum LLP has introduced the Marcum Commercial Construction Index, a quarterly index that will track the performance of the U.S. commercial ....
Gradual pickup in the economy notwithstanding, the construction sector hasn't always been reaping the benefits, as a trio of new reports indicate. Locally, the New ....
Accounting and advisory firm Marcum LLP has introduced theMarcum Commercial Construction Index, a quarterly index that will track theperformance of the U.S. commercial construction industry.
Nonresidential construction droppednationally in the third quarter even as the economy continues to grow, theaccounting firm Marcum LLP reported Thursday in a new index.
U.S.investment in nonresidential construction declined 4.4 percent in the thirdquarter, according to the debut edition of the Marcum Commercial ConstructionIndex.
October 17, 2012
Marcum LLP Names Anirban Basu Chief Construction Economist
A healthier housing market helps, but the construction sector still faces an uphill battle as new projects dry up.