At Grassi & Co. we understand the needs of a construction company are dynamic and complex. As dedicated industry leaders, the professionals of the Grassi Construction Practice can give you the tools to develop and implement your strategic vision, improve operational flow and efficiencies and make the nontraditional design a profitable building reality.
Our construction practice professionals are members of the Construction Industry CPAs/Consultants Association (CICPAC), a nationwide network of accomplished CPA firms specifically selected for their experience in and commitment to serving the construction industry. In addition to traditional accounting, auditing and tax services, CICPAC members distinguish themselves by providing management and consulting services that meet the increasingly complex needs of construction companies.
Our Construction Industry experience is unmatched. Our professionals are committed to the Industry and keeping abreast of industry trends and best practices. Evidence of this and our specialized qualifications is demonstrated by the following:
- Six of the Firm's partners are Certified Construction Industry Financial Professionals
- Five of our construction partners teach master's and college-level courses in construction accounting and finance at prestigious universities such as Columbia University
- Grassi & Co.'s Managing Partner and CEO, Louis C. Grassi, served as the editor of the Journal of Construction Accounting & Taxation for eight years and, along with other senior Grassi & Co. Construction Partners, authored the Construction Industry chapter of the Corporate Controller's Manual
- Our Firm is the auditor for several Construction Industry trade groups, including the General Contractors Association (GCA); New York Electrical Contractors Association (NYECA), and perform tax services for Construction Financial Management Association (CFMA)
The Firm hosts periodic seminars for the banking and surety communities, informing them about the latest changes in construction and development accounting, tax developments and other issues affecting the construction industry.
Industry Participation and Investment:
Grassi & Co. has made significant investments of time and resources in becoming leaders in the construction industry. We have partners who have served on boards and advisory panels of numerous industry trade organizations, including:
- New York Building Congress (NYBC)
- Subcontractors Trade Association (STA)
- General Contractors Association (GCA)
- Construction Financial Management Association (CFMA)
- Associated General Contractors (AGC)
- Utility & Transportation Contractors Association (UTCA)
- Women's Builders Council (WBC)
- Building Traders Employers' Association of New York City (BTEA)
Our construction professionals also offer Construction Project Monitoring.
Files & links
Industry survey highlights contractors remain optimistic despite facing significant challenges relating to regulations, labor conditions, environment, safety compliance, technology, cybersecurity and insurance.READ MORE
Grassi & Co. is proud to announce that Carl Oliveri, Partner, Construction Practice Leader, was recently appointed President of the Construction Industry CPAs/Consultants Association (CICPAC).
New safety standards, the STEP program and digital learning, are impacting construction companies, their personnel, engineering and design firms, and all others along the supply chain in the NYC construction industry. The financial and operational implications of these changes are worthy of consideration.READ MORE
Carl Oliveri, CPA, CCIFP, CFE, Partner-in-Charge of the construction practice of Grassi & Co., has officially been named the Secretary/Treasurer of the Construction Industry CPAs/Consultants Association (CICPAC) effective August 1st.READ MORE
Articles & Alerts
Construction Partners Steven Goldstein and David Warshauer outline a recent case study that demonstrates the benefits, strategies and risks that companies should understand when considering an Employee Stock Option Plan.READ MORE
As the current labor shortage continues, it is time for construction executives to think outside the box and consider new ways to attract and retain key people. One of those vehicles is the concept of phantom stock, a unique method to engage key personnel and to vest them in the long-term profitability and health of the construction company.READ MORE
If you are a specialty contractor responsible for functions such as plumbing, HVAC, electric or sheet metal work, or if you are a contractor that performs value engineering, you may be able to take advantage of some often-overlooked tax incentives.READ MORE
One of the positives that came out of The Tax Cuts and Job Act is the change in the small contractor’s exemption of Average Annual Gross Receipts (AAGR) test from $10,000,000 to $25,000,000.READ MORE
Talk of labor shortages in the construction and A&E industries has been public over the last few years. Some say it is likely to continue in 2019 as companies continue to earn higher and higher revenues and maintain healthy and growing backlogs.READ MORE
While you offer your employees defined contribution, defined benefit, health and welfare, or profit sharing plans, it is important to know that offering these plans also comes with responsibilities and risks for the sponsoring company and the trustees of the plans.READ MORE
Choosing the right Enterprise Resource Planning (ERP) system is one of the many challenges construction companies face. Choosing the wrong ERP system can potentially hold a company back, however, the right system can substantially propel a company forward—especially in the areas of cash flow and profitability.READ MORE
One issue plaguing the construction industry revolves around a labor shortage. This has been a hot topic the last few years and is likely to continue in 2019 as companies continue to earn higher and higher revenues and maintain healthy and growing backlogs.READ MORE
The New Jersey construction community received a New Year’s gift at the end of December: an announcement from the Murphy administration adding over $400 million in new projects currently under design, as well as accelerating its first quarter 2019 construction program, giving much promise to 2019!READ MORE
Tax projection season is upon us and is a completely new ballgame! The Tax Cuts and Jobs Act (“TCJA”) was adopted at the end of 2017 with most of it effective January 1, 2018.READ MORE
Over the course of the past few years, you may have heard rumblings about significant changes in our accounting guidance as it relates to how companies recognize revenue. The Financial Accounting Standards Board issued “ASU Revenue From Contracts With Customers (Topic 606)”, which is effective for public business entities, beginning after December 15, 2017; and private companies for periods beginning after December 15, 2018.READ MORE
On December 22, 2017 President Trump signed into law the Tax Cuts and Jobs Act.READ MORE
The Tax Cuts and Jobs Act (the Act), which the President signed on December 22, 2017, contains numerous provisions that could affect contractors at the corporate and individual levels.READ MORE
Every year, Grassi & Co. produces a Construction Industry Market Outlook Survey followed by a Symposium made up of executives within the construction industry to comment on the results of the survey.READ MORE
The advances in construction technology are real, they are here, and they aren’t going away. If construction contractors are not already implementing these new ways to build, they’ll be as obsolete as the dot matrix printer.READ MORE
Insurance costs can be daunting for any contractor, but what if there was a way to reduce premiums without affecting coverage? Here are three tips that can have a large impact on insurance premiums.READ MORE
Over the past few months, there have been at least three construction companies who have celebrated big anniversaries: one celebrated 75 years, the second 125 years and the third 130 years.READ MORE
In April of this year, Governor Cuomo signed into law the Paid Family Leave Act enabling workers with up to 12 weeks of paid leave a year to care for a seriously ill family member or newborn, or address issues from a family member’s military service. The law will apply to all employees who are covered by the state’s temporary disability insurance law, regardless of their employer’s size, and who have been employed for 26 or more consecutive weeks.READ MORE
While the construction industry has become more informed about the inefficiencies within the current construction process, adopting a Lean approach to improve project planning and efficiencies—resulting in increased client satisfaction—has only been partially assimilated into the industry. The most important challenge to having these cohesive principles adopted by the majority seems to be lack of industry understanding of Lean.READ MORE
The new Revenue Recognition standard begins to take effect for nonpublic entities in the calendar year ending December 31, 2019. This means that private construction companies now have mere weeks to prepare for compliance.READ MORE
Grassi's Carl Oliveri, Partner, Construction Practice Leader, will be a panelist at the Commercial Observer Inaugural Safety Construction Forum.READ MORE
Hosted by Grassi & Co.'s Construction and Manufacturing & Distribution Practices.