Construction Companies

Construction CPA Services in Chicago, IL

If you need a certified public accountant in Chicago that knows the ins and outs of the construction industry, contact the Lewis CPA firm today.

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Construction Companies
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4000+ Happy Clients
We service 1,000+ businesses and 3,000+ individual clients, many of them located nationwide.
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36 Years of Experience
Since 1986, we’ve provided comprehensive tax and accounting solutions for individuals and businesses.
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52 States Serving
With our technology stack, we provide remote accounting services for you and your business, regardless the location.

Experienced Chicago Construction CPA Firm

Construction businesses, home builders, and allied businesses face a unique set of challenges with regard to financial management, revenue, and expenses. Accordingly, construction accounting services must be seasoned in construction contracts, job costing, administrative costs, and financial reporting, to name just a few. The Lewis CPA firm employs this experience in numerous ways and can certainly help you, with whatever needs you may have, including:

  • Tax planning consultancy;
  • Surety bonds for contractors;
  • Job costing;
  • Equipment costing;
  • Debt restructuring and management;
  • Analyzing overhead elements;
  • Analyzing cash flow;
  • Post-job evaluation;
  • Succession arrangements;
  • Accounting software for construction companies.

We also specialize in payroll processing as well as the accurate calculation of sales tax. In fact, our services range from basic bookkeeping to wealth management strategies. We do all of these things so construction firms can focus on structures, buildings, and design.

Why Do You Need a Construction-Specific CPA?

The Unique World of Construction Accounting?

Construction is among the most complex and regulated businesses in the modern economy, and with good reason. The very conditions and substance of this type of work come with concepts all its own. From job costing to pricing per project to principles that recognize revenue, construction businesses in Chicago and elsewhere stand apart.

Accounting per Construction Project

This is a type of accounting that designates costs according to each contract. Expenses and revenues are set up separately by the job as a means of tracking projects which may differ from one another widely by size, scope, and inputs.

Marketing and Selling

An unsung input in the construction industry remains promotion, i.e., selling the service and building brand awareness. From crafting an effective message to generating winsome content to a social media strategy, advertising, and selling constitute a major budget line item. Construction accounting services can aid in setting up a sales budget.

Volatile Overhead

A competent construction accounting firm examines overhead costs for the purpose of stabilizing them and making them more predictable. We help construction businesses reform their receivable and payable policies, use software to precisely calculate overhead, improve their bidding success rates, and resolve delay issues. Establishing stability in these areas helps the construction firm get a better handle on cash management.

Cost of Materials and Labor

According to the Associated General Contractors of America, many contractors have noticed reduced costs in fuel, lumber, and steel as 2022 turned to 2023. However, economists continue to predict rises in both materials and wages. Inflation continues to affect the prices of raw materials, energy, and human resources. The accounting firm must monitor this.

Longstanding Commitments

Long-term construction contracts are typically those where the term exceeds one year. These sorts of commitments challenge construction accounting services since so much accounting is organized into quarterly and annual financial reporting.

Our Tax Services for Construction Companies

Given the realities of revenue recognition, fluctuating prices, and irregular contracts, to name a few factors, it comes as little surprise that reporting for tax purposes requires extensive experience.

Tax Return Preparation

Assembling the many schedules, attachments, and documents that support the representations on a return stating taxable revenue is daunting for a construction firm. With more than a few years of doing so, Lewis CPA will prepare your return with competence and confidence.

Tax Planning

Keeping your tax burden as light as possible is another one of our strengths. We can advise you on deductions and investments that lower your overall taxable income.

IRS Representation

The IRS is getting bigger and busier. An audit or other inquiry is never ruled out, but Lewis CPA accounting services stands by its clients through the process.

Our Construction Accounting Services

From simple bookkeeping to financial planning, our construction CPAs provide the full range of construction accounting services, so you can count on us to do it all.

Proudly Serving

We are honored to work with those who build our towns, cities, and villages. We serve businesses across the construction spectrum:

  1. Commercial and Residential Building Contractors;
  2. Infrastructure and Highway Contractors;
  3. Excavation and Demolition Professionals;
  4. Masonry, Concrete, and Paving Businesses;
  5. Real Estate Developers of business districts and residential communities;
  6. Exterior, Finishing, and Equipment Contractors;
  7. Engineers, Architects, and Designers.

Why Employ Our Construction Accounting Services?

Accounting for construction companies is no easy task but Lewis CPA rises to the occasion as few others do.

Construction Accounting Frequently Asked Questions

Reach Out to Your Construction CPA

Adhering to the most rigorous accounting practices in the construction industry, the most demanding ethical standards, and the most forthcoming customer service, the Lewis CPA firm stands ready to serve your construction business as a committed and reliable partner.

Get in touch with us to discuss how we can be of service to you.

Get Expert Support

Be it tax assistance or construction accounting services, let us know of your needs, and we will show how Lewis CPA can help.
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Track Record

We boast of a long track record of putting out comprehensive and precise financial statements.

Master It All

We master the details of the construction business, applying them to regular accounting best practices and ethical conduct.


Our turnaround times are quick when we respond to client inquiries and questions on tax and accounting issues.

In the Know

We remain in close touch with construction industry movers, shakers, and influencers. This keeps us at the cutting edge of industry development and evolution.

Financial Statements Preparation

Regulators, taxing authorities, investors, and others have an interest in viewing the performance of a construction company. This is why organized and accurate financial statements, balance sheets, cash flow, and income statements are crucial.

Audit and Assurance Services

In addition, insurers and prospective investors often require regular internal and external audits for construction concerns to maintain confidence in the business.

Payroll Services

A professional accountant can help organize the payroll system. Overtime, workman's compensation, etc. are common in construction, and an expert brings efficiency to the task.

Financial Planning

Managing the company's assets gets a boost from those providing construction accounting services. We can advise on matters like contract price, narrow profit margins, and mobilization costs.

What exactly is construction accounting?

Construction accounting is a project-based method that observes the irregular production patterns and long-term contracts typical of the industry. Each project is treated as its own firm. Meanwhile, cash flows and revenue recording is performed over a longer timeline. Furthermore, mobilization alters this accounting because workers and materials rarely stay in one place. Construction accounting such as the completed contract method can be complicated and keeping track of all the moving parts in a construction project can be overwhelming, not to mention the financial aspect that comes with it. From tracking labor costs to managing invoices and contracts, there’s no doubt that construction accounting can be complicated. Not only do construction accountants need to have a strong understanding of financial management, but they also need to have an intimate knowledge of the construction industry. It’s a tough job, but we can do it for you and take complicated accounting tasks off your plate.

What are key construction accounting principles?

Construction principles are distinct and clear. Customers have particular specifications for projects. Job costing is a principle whereby an estimate is based on those requirements. To recognize revenue is another principle, creating criteria by which income is recorded as received. Retainage allows the customer to keep some of the cost until the job is completed. By allowing the customer to defer payment on some of the charges, Retainage simplifies the process of budgeting and paying for larger services. This type of arrangement advantageously incentivizes contracted service providers to provide quality work efficiently and effectively. Plus, customers are always at ease knowing that all pieces must be completed and accepted before any monies are exchanged in full. Finally, there are various different approaches to billing available to you. You can select progress billing, which ensures that payments for service or product run along with the conclusion of a given milestone. A fixed price solution could be more your style if you prefer a fee at the start and completion of the project. For services provided by the hour, time/materials billing may offer greater flexibility.

Client Reviews

As a business owner I appreciate good customer service and that is why I am taking the time to give a thumbs up review of Susan S Lewis LTD. This firm is outstanding in all aspects of servicing the client. When asked about an accounting or a financial service company I would not hesitate to recommend them highly.
Aggie Lewis
Very pleased with the service Susan Lewis office provides!! This is my fifth year with them as a client.
Albert Ridgeway
Sue and her entire office are great. She has done personal and business taxes for my wife and I for as long as I can remember. Her team is friendly, fast, professional and extremely knowledgeable. I am very particular about giving recommendations and I would highly recommend Susan S. Lewis Ltd.!
Dave Olen
Professional, expert services from people who care about their clients.
Diane Traxler

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