Revenue recognition is where construction accounting stops looking like every other industry. Percentage-of-completion versus completed contract, WIP schedules your bonding company will accept, retainage, change orders and the timing decisions that move real tax dollars.
If you’re buying materials in bulk — lumber, wire, pipe, fixtures, flooring, cabinets, roofing — you might be sitting on a big tax opportunity. Here’s the key: Inventory isn’t an e