Construction

The construction industry in Denver and throughout Colorado has experienced remarkable growth over the past decade, and with that growth comes increasingly complex tax and accounting requirements. From residential builders along the Front Range to commercial contractors working on major infrastructure projects, construction companies face unique financial challenges that require specialized expertise. Lanphier LLP has developed deep knowledge of the construction industry's tax landscape and serves builders and contractors with the proactive, hands-on approach that this dynamic sector demands.

Construction accounting differs from standard business accounting in fundamental ways. The timing of revenue and expense recognition, the treatment of long-term contracts, the management of retainage, and the interplay between direct costs, indirect costs, and overhead allocation all require an accountant who truly understands how construction companies operate. At Lanphier LLP, we do not apply generic accounting principles to your construction business -- we apply construction-specific expertise to help you manage your finances accurately and minimize your tax burden strategically.

Job Costing and Project Accounting

Accurate job costing is the foundation of sound financial management for any construction company. We help our construction clients implement and maintain job costing systems that give them real-time visibility into the profitability of every project. This includes proper allocation of labor, materials, equipment, and subcontractor costs to individual jobs, as well as the overhead allocation methodologies that determine true project margins. Whether you use percentage-of-completion or completed-contract accounting, we ensure your financial statements and tax returns accurately reflect the economic reality of your projects.

Contractor Compliance and 1099 Management

The construction industry relies heavily on subcontractors, and the compliance requirements surrounding those relationships are substantial. Proper worker classification, timely 1099 issuance, certificate of insurance tracking, lien waiver management, and compliance with Colorado's contractor licensing requirements are all areas where errors can be costly. We help our construction clients build systems and processes that keep them in full compliance, minimize the risk of misclassification penalties, and ensure they are capturing all available deductions related to subcontractor costs.

Colorado's construction market continues to evolve, and your CPA should evolve with it. Whether you are a general contractor, a specialty subcontractor, a custom home builder, or a commercial developer, Lanphier LLP has the expertise and the commitment to help your business thrive.