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.
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Scope of Services
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.
- Sub-Contractors and Specialty Trades
- Other Clients Served
- 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.