Construction

The construction industry has unique financial challenges because of its accounting rules and tax regulation complexities.

We have experience working with construction industry professionals including architects, consulting engineers, land developers, general contractors, and subcontractor specialty trades such as framing, mechanical, electrical, plumbing, masonry, roofing, HVAC, and soil & well drilling.

Specifically, we can work with you in the follow areas:

Accounting:

  • Ensuring you effectively use your accounting software;
  • Evaluating your job estimating and job costing processes;
  • Reviewing your overhead cost allocation charges;

Planning:

  • Assisting in developing effective budgeting and projection plans;
  • Reviewing ways to improve your working capital cash flow;
  • Outlining the issues impacting your employees vs. subcontractor hiring decisions;
  • Reviewing the things to consider in buying vs. leasing equipment;
  • Discussing options available in terms of your insurance & bonding requirements;
  • Determining your eligibility for government tax incentive programs;

Strategic:

  • Developing tax planning strategies to help minimize your taxes;
  • Understanding the impact that labour, environmental & safety regulations have on business;
  • Addressing the issues behind acquiring another company’s operations;
  • Reviewing the issues surrounding a potential succession and / or sale of business operations;

Client Testimonials
  • " As a small business owner and operator dealing with day to day business is challenging enough. I am so grateful to have Michael and his team looking after our corporate and personal taxes. Mike's personal approach not only deals with current taxation year but planning strategies for the future as well. I have dealt with Mike and his staff members on a personal level as well. They are all an asset to our business. Thank you Mike for your assistance whenever we have needed it. "

    Kevin & Sonja Benson - Benson Heating & Air

  • " During the past several years Michael and his team have come across client situations that developed operational challenges for which our expertise and guidance was sought. We have worked together with Michael and his clients to provide realistic, timely and cost beneficial solutions. This collaborative process has resulted in resolving the client’s problems and ensured their continued success. We have found our collective working relationship has paid significant benefits to us, Michael’s clients and to the Michaels firm. "

    John Morgan, CPA, CA, CIRP, CFE, CBM - President | Morgan & Partners Inc.

  • " I would like to take this opportunity to recognize the great work that the team at Michael Kostrich Chartered Accountant Professional Corporation has been doing for us at Flooring By Design. We are a Simcoe County based flooring store that offers custom solutions for our clients flooring needs. Late last year, a decision was made to find a suitable accounting firm to assist us with our bookkeeping and accounting. The ideal criteria for the successful firm included that the firm be local, small business oriented, flexible, honest and reasonably priced. Our decision to hire Michael’s firm and his team has turned out to be a truly positive experience. Not only have they met our criteria, but in our interactions I’ve also found them to be very personable in their approach. They are simply nice people to deal with. Together, Mike and I we were able to customize a plan tailor made for our business. Mike’s office now takes care of our onsite book keeping, quarterly financial reviews, corporate income tax as well as taking care of my family’s personal income tax needs. As a business owner and Simcoe County resident, I am delighted to recommend the team at Michael Kostrich Chartered Accountant Professional Corporation. It’s just great knowing that the accounting & tax elements of my business are in reliable hands. "

    Trevor Kadlec - President - Flooring by Design

  • " We have been utilizing Michael’s firm for a number of years. His team actually makes the financial part of our operations enjoyable. We build fuel stations all over Ontario and value Mike’s firm as part of our team of advisors that makes what we do possible. I love how seamlessly they’re able to log into our system remotely and do their work. Helen always resolves our accounting questions quickly. The whole team is extremely accommodating. Mike is one of the very few people I go to for trustworthy financial advice. When I brought Mike and his team onboard, I was able to completely leave my accounting worries with them and focus on what I do best – grow my construction business and prosper. "

    Scott Bauman - President - Raymar Equipment Service

  • " We contacted Michael’s office last year looking for an accounting firm that provided a more “hands on” and personalized service style approach. We knew we had to make a change but were hesitant on doing so because the previous firm had a highly skilled staff of 60 as well as 11 years history with us. Mike insisted on personally visiting our office to meet the staff, learn more about our business, and see if we would both be a good fit for one another before accepting the role. His team made the transition seamless and required very little assistance from our staff. In fact, his firm reviewed the financial history of both companies through our software. Through their review, they were able to point out areas that needed to be addressed and make best practices suggestions for the future. We are very satisfied with the change we’ve made and the service that his team provides us – thanks for making our decision to change firms look good! "

    Oliver Owens - President - Critical Air Mechanical Inc.