Construction companies, contractors, engineers and architecture firms have unique business challenges that often involve high risk with a low margin of error. Our Construction Industry Group team is committed to meeting the high demands of your industry’s reporting requirements every step along the way. We are dedicated to helping construction companies address their biggest challenges down to the smallest details. We work to remain current with industry developments, regulations and standards and marketing trends to ensure your business knows the risks it faces and how to best manage them.
We provide experience in audit, tax and advisory consulting in addition to specialized attention on FAR Part 31 audits and wealth and succession planning. Brown Smith Wallace will work with you to customize these solutions for your individual ownership and management requirements. We have a team of strategic business advisors that are focused on helping contractors improve their business and realize their potential. We can also help you create a balanced scorecard to help align strategy with everyday performance. This will help employees better understand your strategy, link objectives, focus efforts and enable management to manage strategy, not just tactics.
Our services for the construction industry include:
- Audit & Accounting Services:
- Presentation of financial statements, including backlog and supporting documentation in such a way as to maximize the contractor’s bonding capacity
- Reviews, compilations and audits in accordance with standards required by the AICPA
- Cash flow strategies and management
- Audits of contractors’ claims
- Assistance in dealing with bonding companies and sureties
- Balanced Scorecard
- FAR Audits
- Independent Insurance Consulting
- Federal tax returns
- Percentage completion and related method changes
- Interest lookback
- Repair and maintenance regs
- Fuel tax credits
- Section 199 domestic production activity deduction analysis
- R&D credits
- Tax provision/deferred income tax calculations
- Financing methods
- Analysis of accounting methods, including application for permission to change method, as required by the Internal Revenue Service
- International tax
- State and local tax services
- Sales tax and state income tax preparation and filings
- State nexus
- State income tax credits
- Voluntary disclosure agreements
- Income tax planning and preparation of personal and business returns
- Sales and use tax consulting, including sales tax exemption
- Representation in federal and state tax matters
- Wealth and succession planning
- Federal tax returns
- Transaction Advisory and Litigation Support
Construction Industry Specialization
Two of our Construction Industry Group members holds the esteemed Certified Construction Industry Financial Professional (CCIFP) certification and we are also members of the American Institute of CPAs (AICPA), The Associated General Contractors of America of Missouri (AGCMO) and Construction Financial Management Association (CFMA). Active involvement within these organizations allows us to stay current with best practices, emerging industry trends and legislative and regulatory activity.
I love working with Brown Smith Wallace because they help me to be a successful accounting executive by teaching me how I can do my job better. The engagement is not about finding what’s wrong; it’s about finding ways to enhance the practices I have in place to prevent potential future problems. Their close-knit team approach is what sets them apart from all other firms. A real gem to partner with.
Kathy Cassidy, Controller
We started working with Brown Smith Wallace in 2016, and we have been very happy with the quality of service we have received. They facilitated our transition to their firm in a seamless and timely manner. Brown Smith Wallace offers a wide variety of services with expert staff who specialize in specific areas, such as construction accounting, sales tax and transaction services. In addition to offering exceptional accounting services, Brown Smith Wallace employees have been wonderful to work with on a one-on-one basis. They have been very helpful in making sure our accounting practices are accurate. Brown Smith Wallace has been able to resolve all our accounting inquiries and dilemmas with quick and informative solutions. We have been very pleased with Brown Smith Wallace and are looking forward to working with them for many years to come.
Fixture Contracting Co, Inc.
Connie Kuntz, Controller
J. F. Electric has been a client of Brown Smith Wallace for over 30 years and I can attest to the fact that they provide a measurable difference and have assisted our firm in many aspects of our business. Brown Smith Wallace provides our annual certified financial audits, monthly financial reviews with management, tax strategies and benefits analysis, business risk services, insurance and employee benefits analysis and recommendations, management consulting services as well as other valuable services. The management and support staff of Brown Smith Wallace that we have had the pleasure to have worked with over the past many years, have all been very knowledgeable and experienced in their field of expertise. They consistently exceed our expectations in every way.
J.F. Electric, Incorporated
Greg Fowler, P.E., President and CEO
As a client of Brown Smith Wallace since fall 2010, we have realized significant tax savings through proactive tax planning. They also served as our ‘outsourced’ accounting staff while our controller was out on maternity leave. Their dedicated staff works in unison with us, and we’re very pleased with the consulting, planning, accounting and compliance services provided.
Kaskaskia Engineering Group LLC
Geri Boyer, Co-Founder & Managing Partner
The longer we work with Brown Smith Wallace, the more we feel they’re a partner in our success. What stands out about Brown Smith Wallace is their willingness to listen to us. Offering us strong insights and guidance is the value added we’ve come to depend on.
Markway Construction Co.
Larry Huddleston, Office Manager
Brown Smith Wallace has provided audit, tax and consulting services to SAK Construction since 2011. They have done a great job of understanding our business and tailoring their audit work to efficiently address the relevant risk areas. The audit and tax personnel on our job meet with us quarterly to stay abreast of our financial progress toward meeting our plans and to be proactive in addressing new developments and changes in our business. This level of communication has helped us resolve issues during the year and assisted us in structuring transactions with the flexibility to do so in a tax-efficient manner. It has also helped us prepare for the implementation of new accounting rules that impact our financial statements. I would highly recommend Brown Smith Wallace to any of my peers for audit, tax and consulting services.
Roger Archibald, Chief Financial Officer
I have more than 20 years of experience working with auditors and CPA firms. I have worked with Brown Smith Wallace for four years, and I have found them to be a world-class organization. They are extremely professional, and their auditors are top notch. They really take the time to listen and understand the business to ensure that we are following best practices and maintain a stable foundation for our business. That gives me the confidence I need to focus on providing accurate and valuable data and analysis. I highly recommend Brown Smith Wallace. They are a pleasure to work with and are a trusted resource.
TSI Global Companies
Christine Robinson, Accounting Manager
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- 6 Cityplace Drive (Training Room), Creve Coeur, MO 63141, 05.23.2018