Industry Expertise

Developing Success Together

Building foundations, driving growth

Construction and engineering CPAs who can help you build financial success.

The construction and engineering CPAs at Boyum Barenscheer bring deep industry expertise to help contractors and trade professionals optimize their operations for maximum success. Our active involvement in key trade organizations ensures we’re always at the forefront of emerging trends and industry challenges.

We work with a variety of construction and engineering firms including:

  • Specialty contractors
  • General contractors
  • Engineering firms
  • Developers
  • Residential contractors
  • Construction industry suppliers

Our Services

Boyum Barenscheer’s team of CPAs and consultants work collaboratively with our construction & engineering clients to address their operational, tax and accounting needs including:

Performance and Profitability

  • Project bidding and estimating
  • Information systems integration
  • Job costing and overhead rate analysis
  • Cash flow analysis
  • Constraints management
  • WIP and percentage completion training

Strategy and Management

Tax Planning and Compliance

Compliance and Assurance

Accounting and Outsourced Services

Nationally Recognized

Our industry recognition includes being selected as one of only 75 CPA firms nationwide to join the Construction Industry CPAs and Consultants, and we’re proud to be the sole member representing Minnesota.

Our Construction & Engineering Specialists

Frequently Asked Questions

There are many different accounting methods that maybe available for your construction business. It all depends on what you qualify for and what is best for your tax situation. Some of the methods are cash method, accrual method, completed contract method, percentage of completion method, accrual method excluding retainage for accounts receivable and accounts payable, exempt percentage of completion, 10 percent method.

As a construction business owner, you can benefit from several key tax incentives. The Qualified Production Activities Deduction offers a 9% deduction on income from construction and renovation, though income from land sales or leases is excluded. The Research and Development Credit applies to activities such as improving construction methods, equipment, or designing green initiatives, potentially qualifying your business for tax savings. Additionally, the Work Opportunity Tax Credit (WOTC) rewards employers for hiring individuals from targeted groups, such as veterans or long-term unemployed, with credits ranging from $1,200 to $9,600 per employee. For more details, read our full blog post HERE and let us help you make the most of these opportunities.

Get In Touch

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We’re here to make a difference to our clients by offering exceptional tax, audit, business advisory and outsourced services.

Contact Us
Info@myboyum.com

Home Office:
3050 Metro Drive, Suite 200
Bloomington, MN 55425

952-854-4244