Real Estate & Construction
LBMC knows real estate and construction from the ground up. With numerous real estate and construction clients, we’ve learned how to create opportunities and provide best practices that benefit you.
For over 30 years, LBMC has worked with a wide range of clients in the construction industry. Our goal is to help these clients address challenging regulatory requirements, assess financial risks, increase profitability and grow their businesses.
Whether it’s acceleration of depreciation deductions, property tax abatements, grants for infrastructure improvements, or energy efficiency credits, our deep industry experience and expertise can help. From inception to completion, we see your projects through with accounting, auditing, tax planning, payroll, technology, and management support that alleviate the burden on you. We provide comprehensive services that are customized to meet your needs.
Solutions for Real Estate and Construction Industry
CASE STUDY: R&D Tax Credit for Construction & Real Estate
This success story reviews an architecture/engineering service company located in Nashville, Tennessee that reached out to our team for an R&D Tax Credit Study. The company had annual revenue of $148 million in 2017 and has grown significantly. They employ 1,150 employees of which 650 are included as qualified.
Approach
Our team of R&D consultants conducted group meetings with leaders from each market segment, key members of the Innovation Board, and financial team in order to educate and advise on the qualifications of the R&D Credit and how to apply it to their business. In these meetings, we discuss project qualifications and determine which projects qualify across markets. This information is used to analyze their internal time-keeping data and quantify a qualified research percentage for each applicable employee.
Results
- $13 million in qualified research expenses (QREs)
- $1.1 million in gross federal credits
- $40 thousand in gross credits from 4 states in 2021
View the entire case study here.
Indications of an R&D Tax Credit Opportunity
- Do you employee engineers, scientists, project supervisors, or programmers?
- Do you develop or improve products or processes?
- Do you incur raw material costs during the product development process?
- Do you build prototypes, jigs, models or dyes?
Since 2014, McGuire Sponsel and LBMC have partnered to provide first-class service with integrity that brings value to LBMC’s clients. As a national specialty tax consulting firm, McGuire Sponsel offers Research & Development Tax Credits, Fixed Asset Services including Cost Segregation, Global Business Services and Credit and Incentive Services. Contact us for more information.
What make us different?
As a top 50 firm in the country, LBMC is dedicated to providing services tailored to our clients. Since we work with a wide variety of Real Estate and Construction clients, LBMC has invested significant resources to meeting the needs of this industry. Key differentiators for LBMC include:
- Diverse Experience
- Bigger Picture Vision
- Competitive Pricing
- Dedicated to Deadlines
- Intense Attention
Who We Serve
LBMC industry experts have experience working with a variety of Real Estate and Construction Clients. Our industry experience includes serving companies such as:
- Asset Management Companies
- Commercial & Residential Construction
- Commercial & Residential Real Estate Owners/Investors
- Developers
- Engineering & Design Firms
- Family Owner Real Estate Entities
- General Contractors & Subcontractors
- Operators
- Property Management Companies
- Property Management Companies
- Commercial and Residential Real Estate Owners/Investors
- Family Owned Real Estate Entities
Related Insights for Real Estate & Construction
Tax
- Accelerated Depreciation and Cost Segregation Studies
Implement cost segregation strategies to enhance cash flow and optimize tax savings on property investments. - Section 1031 Like-Kind Exchanges under the TCJA
Leverage like-kind exchanges to defer capital gains taxes and reinvest in new property assets efficiently. - Qualified Opportunity Zones Tax Benefits for Real Estate
Explore tax incentives available through investments in designated Opportunity Zones to maximize returns. - Tax Break for Commercial Real Estate Investors
Understand the implications of debt restructuring and how to manage tax liabilities effectively in real estate ventures.
Advisory
- Beyond Tax and Audit: Areas to Focus on in Advisory
Identify strategic advisory services that drive growth and efficiency beyond traditional tax and audit functions. - Why pre-LOI due diligence is so important
Emphasize the importance of thorough due diligence before letters of intent to mitigate risks in property transactions. - Discovering Value in Your Operating Lease Portfolio
Operating leases are often overlooked, and they can be a great source of value in a deal.
Audit & Assurance
- Five Internal Controls that Prevent Fraud in Construction Companies
Implement robust internal controls to safeguard against fraud and ensure financial integrity in construction projects. - ASC 606: Construction Revenue Recognition in 5 Steps
Navigate the complexities of revenue recognition standards to maintain compliance and accurate financial reporting. - Audit Procedures for Leases under ASC 842
Adapt to new lease accounting standards with effective audit procedures to ensure transparency and compliance.
ProForm: Simplifying AIA Billing
In the dynamic world of construction, where every project involves intricate financial transactions, managing billing processes efficiently is crucial. Enter ProForm, a powerful solution developed by LBMC Technology Solutions, designed to revolutionize AIA (American Institute of Architects) billing within the Construction industry.
Seamlessly integrated with Sage Intacct’s ERP accounting platform, ProForm simplifies complex billing procedures, enhances accuracy, and optimizes cash flow.
Chuck Tomlin
Shareholder, Tax
Jeff Talley
Shareholder, Tax
Marc Tolleson
Shareholder, Audit and Advisory
