construction

Construction Accounting & Advisory Services

Helping construction companies manage project profitability, cash flow, bonding requirements, and tax planning with specialized accounting and advisory support.

Construction businesses face unique financial challenges—from job costing and work-in-progress reporting to bonding requirements and fluctuating cash flow. At HBE, our team works with general contractors, subcontractors, and developers across Nebraska and the Midwest to provide accounting, tax, and advisory services tailored to the construction industry.

Comprehensive Construction Accounting & Advisory Services

Construction companies require financial systems and reporting that support project-based operations and long-term profitability. HBE provides specialized accounting, tax, and advisory services designed specifically for contractors and construction businesses.

Construction Accounting & Job Costing

Accurate job costing and financial reporting are critical to managing project profitability in the construction industry. Our team helps contractors implement accounting systems that track project costs, labor, overhead, and revenue in real time. This allows owners and project managers to monitor performance and make informed decisions throughout the life of a project.

Work-in-Progress (WIP) Reporting

Work-in-progress schedules are essential for contractors working on long-term projects. We assist construction companies with accurate WIP reporting, helping ensure revenue recognition aligns with project completion and financial statements remain reliable for lenders, bonding companies, and internal management.

Tax Planning for Construction Businesses

Construction companies face complex tax considerations including equipment depreciation, multi-state operations, and entity structuring. Our professionals work closely with contractors to develop proactive tax strategies that minimize tax liabilities and support long-term growth.

Financial Statements for Bonding & Lending

Many construction companies rely on bonding and financing to secure new projects. We prepare financial statements and reports designed to meet the expectations of surety providers and lenders, helping contractors strengthen their financial position and maintain bonding capacity.

Business Advisory & Growth Planning

Beyond compliance, we provide strategic guidance to help construction companies improve profitability, manage risk, and plan for growth. From evaluating project margins to succession planning, our advisors work with construction business owners to support long-term success.

Tax Increment Financing (TIF) in Nebraska: A Strategic Urban Development Tool

Tax Increment Financing (TIF) is a funding mechanism for development, most commonly within urban areas. Through this article, we will highlight the background of TIF, how it is utilized in Nebraska, income taxability of projects, and potential drawbacks of TIF...

Finish Strong: Avoiding Profit Fade in Construction Projects

Just like in many areas of life, both personal and professional, finishing strong is imperative to success. Construction projects are no different. In construction, a strong finish can ultimately determine whether a project is completed on time and within budget. When a project finishes strong and comes in under budget, it results in what’s known as a “profit gain.” Conversely, when a project gradually loses expected gross profit over time, it’s referred to as a “profit fade.”

Cost Segregation Studies: The Key to Increasing Cash Flow

If you currently own, are constructing, or are repairing/renovating a commercial real estate or multi-family residential property, you likely know that the standard cost recovery lives for depreciation are 29 or 27.5 years, respectively. However, these long...

Inflation Reduction Act: Costs and Benefits for Real Estate & Construction

The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on real estate and...

CONSTRUCTION AHEAD: OPPORTUNITIES AND CHALLENGES IN 2022

The Infrastructure Investment and Jobs Act (H.R. 3684) will inject approximately $3 trillion into upgrading and expanding U.S. infrastructure, presenting a long horizon of opportunity for the construction industry. But to what extent will ongoing supply chain...

HBE’s Rapid Response Team Helps Businesses Recover from COVID-19

HBE’s Rapid Response Team Helping Businesses Recover from COVID-19In hospital settings, a Rapid Response Team (RRT) is a group of highly-trained, multi-disciplinary professionals who are called upon to prevent a medical emergency when a patient begins to show signs of...

HBE Joins Construction Accounting Network

HBE Joins Construction Accounting Network At HBE, we continuously strive to provide proactive advice and bring value to our clients through our professional relationships, memberships, and affiliations. In an effort to maintain the high level of service that is...

Building The Future Of Construction With Digital Transformation

Building the Future of Construction with Digital Transformation By Ian Shapiro, Adam Rouse and Malcolm Cohron The construction industry is due for a digital renovation. Faced with challenges around project efficiencies, ongoing safety concerns and flatlining labor...

Why Contractors Fail

Why Contractors Fail By Scott Scheef, CPA, CVA, Manager In the last decade, the construction industry has experienced substantial growth, riding the wave of increased demand and low interest rates. As we look forward, how can contractors best position themselves for...

A Roadmap for Preventing Construction Disputes

Whether resolved through mediation, arbitration or trial, construction disputes can be costly and time consuming for both project owners and contractors. Construction disputes may involve just a few thousand dollars or may be valued in the billions. The time required...
For clarification on expenditure taxability, click here to view the Nebraska Department of Revenue construction contractor fact sheet.

Why Construction Companies Choose HBE

Deep Industry Knowledge. Practical Business Guidance. 

Deep Construction Industry Experience

Our team works with general contractors, subcontractors, and developers and understands the operational and financial realities of the construction industry.

Midwest Focus

We serve construction companies across Nebraska and the surrounding Midwest, bringing regional insight into labor markets, regulations, and economic conditions.

Long-Term Relationships

Many construction clients have partnered with HBE for years, relying on us as a trusted advisor through multiple stages of growth.

Strategic Direction

Our approach goes beyond tax compliance and reporting. We help construction businesses strengthen financial management, improve project visibility, and support long-term growth.

Construction Accounting Expertise for Contractors

HBE works with a wide range of construction businesses, including:

  • General contractors
  • Specialty subcontractors
  • Commercial construction firms
  • Residential builders
  • Developers and real estate investors

Our team understands the financial complexities unique to the construction industry, including project-based accounting, contract revenue recognition, equipment management, and workforce fluctuations. 

Industry Organizations & Professional Affiliations

Our construction industry professional actively participate in leading industry organizations. These affiliations help us stay informed on regulatory changes, financial best practices, and emerging trends affecting contractors and construction businesses.

  • Associated General Contractors (AGC)
  • Association for Builders and Contractors (ABC)
  • BDO Alliance USA Construction Group
  • Construction Financial Management Association (CFMA)
  • Home Builders Association of Lincoln (HBAL)

Construction Accounting Support That Helps Your Business Build for the Future

Whether you’re managing multiple projects, planning for growth, or navigating tax and financial reporting requirements, HBE provides the specialized accounting support construction companies need to succeed.

Connect with our Construction Team