What are my overhead costs? - Am I properly accounting for my job costs? - Is our bidding process competitive? - Have I included all costs in my bid? - What is the value of my company? - How can I plan for the future of my company? - What is the “real” cost of doing business?
Industry Experience
In addition to acting as accounting professionals, the Herbein + Company, Inc. team has the unique ability to see your company situation from your side of the desk. Our team consists of people that have held various positions within construction organizations, including a former Chief Financial Officer. Our experience can provide you with a wealth of information and includes representing companies within the categories listed to the left.
Specialized Services
- Analysis of Accounting, Estimating, Software and Job Costing Systems
- Assistance in Implementing System Improvements
- Recruiting and Training Accounting Personnel
- Restructuring Financial Statements for Contractors
- Assist in Establishing and Analyzing Budgets
- Fringe/Burden, Indirect Cost, and Overhead Allocations
- Equipment Costing for Bidding and Job Analysis
- Gain/Fade Analysis on Completed Jobs
- Assistance in Developing Information for Bonding Companies
- Review of Sales Tax Issues
- Contract Analysis and Training
- Developing Contract Accounting Reports
- Benchmarking - Cost, Time, Quality & Safety
- Post Mortem Job Analysis
We are active members of organizations tailored to the construction industry. Our participation in the Construction Financial Management Association and the Home Builders Association offers insight into current topics such as cash management, the art and science of personnel, systems, and risk management. Our team members are involved in local chapters and lead workshops, roundtables and group discussions on current topics and business strategies that affect your business.
Cost Segregation Study
Are you getting the most out of your depreciation schedule? Can your building be used to save you tax dollars?
Owners of residential rental property and other types of buildings purchased or constructed after 1986 may be eligible for a very important tax break approved by the IRS. The tax savings can be very substantial and realized immediately.
Most owners of residential rental property depreciate the entire cost of their building over 27.5 years. Owners of other types of buildings such as offices, retail space, warehouses and manufacturing plants often depreciate the entire cost using a 39 year depreciation period. Under IRS guidelines a significant portion of a buildings cost may be depreciated over much shorter periods, such as five, seven or fifteen years. These shorter depreciation periods will effectively increase your current depreciation deductions and result in immediate tax savings!
Links: Construction Financial Management Association,
Home Builders Association