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Construction

Building a Solid Foundation

Construction is a highly competitive industry. Construction companies need to be proactive and strategically plan for their future. Project cycles, cash flow, financing, bonding and operational issues are different in every company. Our intimate knowledge of the industry provides value-added insight into the challenges construction company leaders face every day.

This knowledge enables us to work as a team with our clients, helping them efficiently navigate business challenges they face. By improving financial reporting and controls, structuring incentive plans that aid in employee retention and attraction, creating and implementing effective succession plans, and identifying tax efficient strategies, the team offers the guidance companies need to achieve their goals.

Anchin is well respected among banks, sureties and other industry professionals. Our ability to help you present and communicate your financial information will be beneficial in securing bonding and credit.

Throughout the year, Anchin’s Construction Group presents industry leading events and experiences. Anchin’s annual State of the Construction Industry event and annual New York Construction Awards events bring industry leaders and companies together to discuss key developments in the marketplace as well as providing a forum for networking opportunities. Anchin also maintains close relationships with leading industry organizations which keeps us well connected with the industry.

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Services include:

  • Financial reporting
  • Tax planning
  • Tax credits and incentives
    • Research and development tax credits
  • Regulatory compliance and investigations
  • Mergers and acquisitions
  • Sales and use taxation
  • Estate planning
  • Succession planning
  • Employee recruitment and retention
  • Stephenson & Brook

Research and Development (R&D) tax credits are a powerful though underutilized tool that can make a big difference for small to mid size construction companies. Many recent industry innovations including BIM (Building Information Management) modeling and GPS laser plotting along with a push for more energy efficient, “greener” designs have transformed development projects within the industry. Due to the increasingly technical nature of system and structure design, many activities performed by companies in the construction industry may qualify for R&D tax credits.

Anchin’s professionals understand the important issues that arise when examining potentially qualifying construction industry projects and related expenses. Our industry in accurate, highly defendable tax credit calculations. Our dedicated construction team includes audit, tax and advisory professionals with years of experience identifying issues and solving problems for every type of business within the construction industry subsectors, including the following types of services:

  • Acoustics, noise and vibration
  • Air quality testing and evaluation
  • Building envelope design
  • Civil/site engineering
  • Demolition
  • Electrical engineering
  • Environmental assessments
  • Geotechnical and seismic evaluations
  • Hazardous materials, site assessment and remediation
  • Mechanical engineering
  • Structural engineering
  • Traffic and transportation

Anchin’s construction industry R&D team is particularly skilled and experienced at identifying qualifying projects and initiatives in each area of your business and we are experts at examining and capturing all allowable expenses towards your company’s research credit. We work with clients interested in claiming the R&D tax credit for the first time and those who have difficulty meeting the contemporaneous documentation requirements needed to support their R&D claim. We also assist clients who have had a significant portion of their R&D claim disallowed and those who need to reassess their R&D tax credit calculation because the nature of their business has changed.

Anchin’s Regulatory Compliance and Investigations team is comprised of specialists with expertise and  experience in providing oversight in both the public and private construction sectors throughout the pre-construction, construction and post-construction stages, ensuring that any and all questions or challenges you face can be easily resolved by our team. Our clients include public entities, Fortune 1000 corporations, Global 100 companies, public-private partnerships, healthcare networks, private ownership groups and not-for-profits. By leveraging our expertise, proprietary information, and existing relationships with state and local governments and non-governmental organizations the RCI team can assist contractors with their MWBE outreach efforts and ensure proper oversight on their projects.

Key services for construction companies include:

  • Monitoring compliance with key regulations like the MWBE requirements established in Article 15-A of the New York Executive Law and ensuring that deadlines and reporting requirements are met without interruption to projects;
  • Examining and monitoring compliance with minority, women, disadvantaged and small business goals and regulations by incorporating the latest digital systems, analytical procedures, controls and processes to ensure diversity goals throughout the bidding and buying out process, having a substantial impact on the final results of the project, including outreach, bid packet size and areas of greatest inclusion;
  • Ensuring that developers and their subcontractors are complying with the prevailing wage by examining and processing certified payroll reports and wages paid in accordance with Davis-Bacon wage rates.
  • Collecting monthly payroll reports, tracking wage averages and otherwise assisting with the analysis needed to verify compliance with the hourly wage requirements established in Section 421-A of the Affordable New York Housing Program.

“Our construction company is growing and we needed advisors who could help us focus on the big picture. Partnering with Terry and the team at Anchin two years ago was one of the best moves we have made as a business. We feel that that they treat our business as if it were their own. They are responsive and provide proactive tax saving ideas for our family business. With multiple generations in the business and a need for estate and family planning, we know we can count on Anchin. Anchin has helped to guide us down a path towards greater success and we’re excited to see what the future holds for our company.”

-The Perfetto Family, Perfetto Contracting Co., Inc.

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