Contractor Bookkeeping Built for the Jobsite
From job costing and 1099 compliance to equipment depreciation and bonding-ready financials — we handle the financial complexity so you can focus on building.
A guide by Taxstra Tax & Accounting — CPA-led tax strategy for business owners
Contractor Accounting Challenges
Construction accounting is not regular bookkeeping. Job costing, retainage, WIP schedules, prevailing wage, and 1099 compliance require an accountant who speaks your language.
Job Costing & Project Tracking
Generic bookkeeping lumps all income and expenses together. We track every dollar by job so you know which projects are profitable, which are bleeding money, and where to bid more aggressively.
1099 Subcontractor Compliance
The IRS is cracking down on worker misclassification. We ensure your subcontractors are properly documented with W-9s, paid correctly, and that 1099-NEC forms are filed on time to avoid penalties.
Equipment Depreciation & Section 179
Excavators, trucks, tools, trailers — construction companies are capital-intensive. We maximize Section 179 and bonus depreciation so you write off equipment in the year you buy it, not over 5–7 years.
Retainage & Cash Flow Management
When 10% of every invoice is held as retainage for months, cash flow gets tight. We track retainage receivables, manage progress billing, and help you forecast cash needs so you never miss payroll.
Contractor Accounting Services
End-to-end financial management built specifically for general contractors, subcontractors, and construction companies.
Monthly Bookkeeping
Job-costed bookkeeping that tracks income and expenses by project, not just by account. We reconcile progress billings, retainage, and change orders so your financials tell the real story.
Learn More →Contractor Payroll
Prevailing wage tracking, certified payroll reports, union fringe benefit calculations, and multi-state withholding. We handle the complexity of construction payroll accurately every cycle.
Learn More →Tax Planning & Preparation
Quarterly estimated tax planning that accounts for project timing, equipment purchases, and seasonal revenue swings. We time deductions to minimize your annual tax bill.
Compliance & 1099 Filing
W-9 collection and verification, 1099-NEC filing for all subcontractors, sales tax on materials, contractor license compliance, and prevailing wage documentation for government contracts.
Financial Reporting & WIP
Work-in-progress schedules, job profitability reports, percentage-of-completion analysis, and bonding-ready financial statements. The reports your surety and bank actually need.
CPA Oversight & Advisory
Every transaction reviewed by a licensed CPA. We advise on entity structure, bonding capacity, equipment financing, succession planning, and scaling from $1M to $10M+ in revenue.
Tax Strategies for Contractors
Construction businesses have unique tax opportunities that most accountants overlook. These are the strategies we deploy for our contractor clients.
Section 179 & Bonus Depreciation
Accountable Plan Reimbursements
Hiring Your Children
Contractor Accounting FAQ
Common questions from general contractors, subcontractors, and construction business owners.
Build Your Business. We Will Build Your Books.
Join contractors who stopped guessing on job profitability, 1099 compliance, and equipment deductions — and started scaling with confidence.
Find Out What You're Overpaying in Taxes
Book a free 30-minute call to walk through your situation. We'll tell you exactly how our CPA-led team can help — and whether we're the right fit.