Construction

Construction Accountants & Advisors

MBK understands the specific challenges of the construction industry and offers a comprehensive list of expert services for professionals on all sides of the business.

Business Strategy From The Ground Up

The construction industry may be cyclical and highly competitive, but it is also the industry that builds America and enhances the quality of our lives in so many ways. The business of construction requires steady oversight of costs, profit margins, liability and exposure. It is also uniquely impacted by the IRS’s ever-changing tax code. Whether you are a general contractor, subcontractor, site developer, a residential home developer or commercial builder, or in the related trades, you need an accounting firm that understands the end-game in this industry — profitability, and that has the tax, accounting and business strategy capabilities to help you build a sound financial future.

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Construction Professional Services

Tax planning, multi-state taxation, sales and use issues

Cost segregation studies

Outsourced CFO/controllership services

Industry benchmarks

Job costing and analysis

Contract evaluations

Financial forecasting and budgeting

Operational assessments and internal controls

Compilations, reviews and audits of financial statements

Employee benefit plans

Succession planning

Cash flow analysis

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Experienced Accounting Team

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Construction Accounting Insights

Bad Debt Deductions

By Sarah Rose Stack • 15 Apr, 2024

The tax code allows an individual to claim a deduction for business debts that have become worthless. But qualifying for the deduction may be more complicated than one would think. In a recent case, the IRS denied more than $17 million in bad debt deductions on the grounds that the advances in question represented equity rather than debt, hitting the taxpayer with millions of dollars in taxes and penalties. This article recounts the U.S. Tax Court case Allen v. Commissioner. Allen v. Commissioner (T.C. Memo 2023-86).

Deducting Business Travel Expenses: A Refresher

By Sarah Rose Stack • 01 Apr, 2024

During the COVID-19 pandemic, business travel nearly came to a halt. Today, it’s on the rebound, as “Zoom-fatigued” executives craving face-to-face interaction hit the road again. With more people getting out of their offices, now is a good time for a refresher on the tax deductibility of business travel expenses. This article explores what’s considered one’s tax home and what expenses are deductible. A sidebar explains the deductibility rules when a business trip is mixed with pleasure.

Making Distinctions May Create Tax Savings for Owners of Rental Real Estate

By Sarah Rose Stack • 01 Apr, 2024

The 20% qualified business income (QBI) deduction is available for income from an eligible trade or business, but it isn’t available if that same property is classified as an investment. This article points out that it’s worth considering whether an owned rental property meets the definition of a trade or business under IRS requirements. It also explains that determining whether rental real estate activities qualify for the QBI deduction is a complicated undertaking and is likely to require the services of a tax professional.

Real People. Real Stories. Real Results.

MBK Construction accounting firm customer testimonials.

"The firm is by far the most credible that I have dealt with in my career. They do a difficult job well and with the highest concern for professional courtesy, fairness, and above all, integrity."

Joseph M. | Marois Construction

"We were referred to Meyers Brothers Kalicka by our former accounting firm when we had outgrown them. Meyers Brothers Kalicka is on the cutting edge of change. They're very, very thorough."

Dan K. | Kleeberg Sheet Metal