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Contractor Services

Are you currently happy with the services your CPA provides? If not, please give me the opportunity to show you how I can help.

I am a seasoned contractor businessman and Certified Public Accountant in Massachusetts. I can assist in your bookkeeping, accounting and tax needs. I can manage the financial end of your business from setup through the year-end tax return or I can assist in any financial function you need help with.

After Twenty-five (25) years as CFO of R.Bates & Sons, Inc. (Clinton, Ma Heavy Construction Company since 1919 with sales of $10m), I have the expertise and experience to solve your accounting and tax issues.

I am specializing in the accounting and tax needs of construction companies due to my extensive knowledge of contractor’s uniqueness.

I can provide one-stop shopping for your bookkeeping, certified payroll, accounts payable, accounts receivable, job cost, general ledger, fixed assets, financial statement preparation and Income tax planning and preparation needs.

I am proficient in:

• Preparing Contract Status Report for your bank and surety.
• Preparing Profit and Loss statements based on completed contract or percentage of completion method of accounting.
• Preparing a balance sheet in conformance with Generally Accepted Accounting Principles (GAAP).
• Preparing federal and state income tax returns for sole proprietorship, partnerships, LLC’s, S corporations and C corporations.
• Tracking accounts receivable aging and job retainages.
• State (Mass Highway Dept, Mass DCAM, Mass DCR) prequalification programs.
• Sales and Use tax filings.
• Special Fuels user and supplier tax filings.
• Classifying leases as Capital (where the asset and liability need to be booked on the Financial Statement) or Operating (off balance sheet).
• Tracking short-term and long-term debt and explaining its implication on your bank line-of-credit and surety bonding programs.
• Calculating billings in excess of costs and estimated earnings vs. costs and earnings in excess of billings and the financial impact on working capital.
• Advising and dealing with your bank and surety (the life-line of your business).
• Tracking fixed assets and calculating the applicable tax and book depreciation amounts.

I also bring extensive expertise to the following contractor issues:

• Workman’s Compensation insurance and the annual calculation of premium based on regular time at the applicable state rate.
• Property & Casualty Insurance and can recommend limits and Insurance agents. I have worked with the Travelers, Aetna and the large Insurance companies.
• Inland Marine schedule of off-road construction equipment premium and rates.
• Pollution liability Insurance – when and what limit to buy
• Contractors Umbrella Insurance policy – when and what limit to buy
• Federal and state unemployment tax issues.
• Can advise on Contractor litigation issues and can bring in experienced counsel when needed.
• OSHA and safety issues. Can recommend safety consultants and experienced OSHA counsel when/if needed.
• Reclassification of business entity to Subchapter S or LLC when advantageous.
• Calculate NOL’s and their affect on financials
• Bidding markup rates and calculating overhead percentages.
• Pension and profit sharing plan administration
• Davis-Bacon Act and State prevailing wage law
• I have a working relationship with another cpa firm should you need additional services I may not currently provide such as audit and review services, mergers & acquisitions, estate planning and business valuations.
• Mass dept of Public Safety and its role in certifying hoisting engineers.
• All facets of payroll filings including; form 941, form 940, W-2, W-3, State income tax, state unemployment, etc.
• Federal form 2290, excise tax on on-road heavy trucks.
• Sand & Gravel mining operation permits.
• Mass RMV – Owner-contractor plates, CDL licenses and apportioned vehicles for inter and intra-state operations.

Thank you for your time and consideration and I look forward to working with you,

Sincerely yours,
John P. Kittredge, Jr. CPA