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Gelman LLP is a full service accounting firm offering entrepreneurs and the owners of closely-held construction businesses highly tailored solutions in the areas of audit, accounting, tax and advisory.

Our construction accounting services include:

These services are provided to:

  • Joint Venture & Operating Agreement Structuring
  • Strategic Tax Planning
  • Federal and State Tax Credits, Incentives and Deductions
  • Improving Project Cash Flow
  • Profitability Analysis including Job Profitability, Cost Control and Breakeven Analysis
  • Bonding and Surety Relationships
  • Percentage-of-Completion Accounting
  • Employee Stock Ownership Plans
  • Litigation Support
  • Business Valuation
  • Recruiting Services
  • General contractors
  • Subcontractors
  • Specialty contractors
  • Material suppliers
  • Construction attorneys
  • Commercial and residential developers

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Construction accounting is a specialty and as your business partner, we recognize the need for fast and easy access to the information that can help you make the right decisions. That’s why we have a team of CPA professionals dedicated to the construction industry who have the experience and knowledge to help you address the unique challenges of your business.

We also recognize that every contractor is different so we customize a plan to meet the specific growth needs of your business. Developing effective tax strategies, providing cash flow and job profitability analysis and strategic business planning are just some of the ways we can focus our attention and expertise to help you grow.

From The Blog

Understand how to account for claim revenue

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As you know, the IRS takes great interest in your construction company’s revenue — and particularly how and when it’s received. If you encounter unanticipated income, also known as “claim revenue,” you might find yourself in hot water with the taxing authorities. So, the question is: Are you at risk?

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How to tackle the issue of the profit fade

Slide - PuzzleAs you know, profit fade can be the downfall of many contractors. But there are several tactics that can help ensure your profits don’t fade away in a mist. Here are just a few.

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Check your company’s financial pulse with a WIP report

Slide - CalcAfter a project is completed, it’s useful to perform a “postmortem” to not only analyze what went right and what went wrong, but also apply what you learn to improving performance on future projects.

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What level of financial statement preparation is right for your company

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Smart Business Magazine interviews LARRY M. KANE, partner with Gelman LLP,CPAs and Business Advisors Interview by Matt McClellan

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Why do you need a CPA specialized in the construction industry?

Slide - HelmetWhen you’re in the construction industry, the knowledge and experience of your CPA can make all the difference. “A CPA should really understand the nuts and bolts of the construction industry if a contractor is truly going to have a valuable business partner in its corner,” says Warren E.Hennagin, managing director of Gelman & Associates, Certified Public Accountants and Business Advisors. 

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Change Orders Make All The Difference

Slide - HandshakeOver the past 3 decades our firm is repeatedly asked “What differentiates your most profitable contractor clients?”

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Ready to retire? An ESOP can help pave the way.

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Most business owners have a lot of wealth tied up in their companies. If you’re in the same boat, how can you convert some of that wealth into cash to help pay for your retirement?

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5 tips for showing you’re “bond worthy”

Slide - TonnenIn today’s economy, risk-averse project owners are more likely to require bonds. At the same time, cautious sureties have become more rigorous in their evaluation and approval of bond requests. So, it’s critical for contractors to show that they’re “bond worthy.” Here are five tips for doing just that.

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Why Should Companies Consider Succession Planning?

Slide - Hard HeadThe success of a company depends on the quality of its leaders and the management team they put in place. Often times, owners of a business spend a great deal of time and resources to put a management team in place that is capable of driving profitability and competitiveness while instilling the right corporate culture in the company.

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