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Construction, Real Estate and Design

The construction and real estate industries face distinct business and tax challenges due to potential complex operational structures, extended project timelines, compliance requirements and regulatory environments. If you are a general contractor, specialty subcontractor, developer, engineering firm or architectural firm, we have the experienced professionals that know the industry and have the expertise in financial operations, tax planning and reporting to meet your current needs and future goals.

Our nationwide client base includes:          

  • Commercial general building contractors
  • Industrial contractors
  • Construction management contractors
  • Heavy and civil engineering contractors
  • Specialty contractors including electrical, mechanical, HVAC, structural and roofing
  • Residential contractors
  • Architectural and engineering firms
  • Residential developers
  • Commercial developers
  • Hospitality developers

How can we help?

We understand that the construction and real estate industry has unique challenges, such as fluctuating cash flow, contract complexities, compliance requirements, and tax regulations. Our construction, real estate and design team has the experience and determination to resolve these challenges by providing you with the guidance and expertise we have developed over thirty years in assisting our clients within the industry. Our goal is to assist your company in meeting your current needs and future goals.

We work with our clients to help them provide the reliable financial data that they need to satisfy stakeholders such as investors, lenders, sureties, and regulatory authorities. We offer tax planning strategies to minimize tax liabilities while also providing tax compliance services to assure that all reporting is done in compliance with existing tax laws and regulations.

Our services include:

  • Attest Services
  • Due Diligence and Agreed Upon Procedures
  • Job Costing and Profitability Analysis
  • Budgeting and Cash Flow Forecasting and Planning
  • M&A
  • Tax Planning and Compliance
  • Tax credits and incentives including R & D, Section 179D and Opportunity Zone planning
  • Sales and Use Tax
  • Cost Segregation
  • Look-back Calculations
  • Multi-state Tax Compliance Including Apportionment and Nexus Determination
  • Succession Planning

What can you expect when working with LB Carlson?

Our professionals have the industry knowledge, experience, and dedication to resolve the challenges of financial and tax reporting you face during each stage of your business. By being proactive, we get to know the operational aspects of our clients allowing us to uncover planning opportunities that can contribute to cost saving and increased profitability. Our construction group has over 40 years of experience and we pride ourselves in maintaining continuous successful client relationships through the entirety of that time.

Practice Leader
Paul Radosevich
Paul Radosevich
Contact Paul

Your Construction, Real Estate and Design Team Leaders

Victoria Holinka,
Principal

Kalen Karnowski,
Principal

Spencer Langer,
Client Manager

Blog Posts

Lease Standard

April 17, 2020

On April 8, 2020, the Financial Accounting Standards Board voted to delay the effective date of ASC 842, Leases, an additional year. 

The Top 10 Questions about the Tax Deadline Extension

April 14, 2020

It was announced on March 20 that Tax Day would be postponed from April 15 to July 15 to coincide with the delayed tax payment deadline at the direction of President Trump. Treasury Secretary Steven Mnuchin announced the postponement via Twitter, stating that all taxpayers and businesses will have until July 15 to file and make payments without interest or penalties.

Many states are still announcing their response to the deadline. Due to COVID-19, Minnesota is providing additional time until July 15, 2020, for taxpayers to file and pay 2019 Minnesota Individual Income Tax without any penalty and interest.  Minnesota has not extended 2020 first and second quarter taxes. We know you have lots of questions. Below is a summary of the 10 most common questions and the IRS’s response.

Strategic Costing Review – Understanding Costs to Gain Competitive Advantage

April 13, 2020

Current market conditions around COVID-19 have reduced workload and forced difficult cost-saving decisions.  In addition, heightened marketplace competition makes it critical that you understand what really drives your profits.  A strategic cost review grounded in the knowledge of your cost structure, workflow and productivity measures can help managers focus on activities that bring the most value and allow you to align your pricing strategies to maximize profits.

CARES Act: Understanding the Paycheck Protection Provision (SBA 7a Loan) Program

April 7, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27 provides $349 billion in funding for the Small Business Administration (SBA) in an effort to provide assistance and relief to America’s small businesses struggling under the weight of COVID-19. The Act included a paycheck protection provision for small businesses by providing additional funding to the SBA for specific areas of need and expanding the SBA’s 7(a) loan program.

Tips and Considerations for Small Businesses Applying for an SBA Disaster Loan

April 5, 2020

Small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA). President Trump has called for an additional $50 billion in funding to the SBA’s lending program from Congress. While the $50 billion is not yet approved, the SBA can issue an Economic Injury Disaster Loan declaration, thanks to the Coronavirus Preparedness and Response Supplemental Appropriations Act.

Knowing what to expect before starting the loan process will help prevent unnecessary errors and rework. Completing the application process quickly and accurately will be key as there will be high demand and processing times will likely increase. We’ve put together the following summary of what business owners can expect when applying for an SBA loan.