GENERAL CONTRACTORS CPA SERVICES

Accounting, Tax & Bookkeeping for General Contractors

From job costing to contractor tax, we handle the books so you can keep projects on time and on budget.

Serving Seattle-area general contractors since 1971 · Licensed WA CPAs

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Accounting Built Around How General Contractors Actually Operate

Greenwood Ohlund provides general contractor accounting for residential and commercial GCs, custom builders, and remodelers across the Seattle area. Labor, materials, and subs all hit the same project but land in different places in your books, and if job costing isn’t set up right, you don’t find out a job lost money until it’s finished. Subcontractor 1099s, W-9s, and certificates of insurance pile up. Progress billings and retainage mean the cash in your account rarely matches the work you’ve completed.

We also handle construction bookkeeping services, month-end close, and contractor tax planning, so the numbers you’re making decisions on are current instead of three months behind.

General contractor reviewing project costs and blueprints at a job site office desk

OUR CLIENTS

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The Challenges General Contractors Face and How We Help

We set up job costing to track costs to the specific project they belong to, so you see margin per job instead of one lump number at year-end.

We run a consistent month-end close on your construction bookkeeping, so your financials reflect where the business is now, not where it was last quarter.

We collect and track W-9s and certificates of insurance as subs come onto jobs, and we file 1099-NECs at year-end, so nothing is missing when the deadline arrives.

We track retainage separately from collectible receivables, so you know what’s available now versus what’s held until the job is done.

WHAT WE DO

How We Support General Contractors

Tax Services

Contractor tax planning, entity choice, and equipment depreciation under §179 and bonus rules.

Audit & Assurance

Reviewed or compiled financials that your lender or bonding agent will accept.

Accounting & CFO Services

Construction bookkeeping, job costing accounting, and a fractional CFO who reads your numbers by project, not just by month.

What Makes General Contractor Accounting Different

Cash, accrual, and percentage-of-completion each treat your revenue differently, and the §460 small-contractor exemption determines whether you can use a simpler method at all. We determine which method fits your business and file accordingly.

Washington adds its own layer. Custom construction is taxed as a retail sale here: you collect sales tax from your customer on the full contract price, materials and labor together, and you don’t pay separate sales tax on materials. Separately, L&I registration and a continuous contractor surety bond are required to operate, with a higher bond amount for general contractors than for specialty contractors. We handle the B&O and sales tax filings, the equipment depreciation decisions, and the subcontractor compliance tracking underneath all of it.

For bonded, large-commercial work involving WIP schedules, percentage-of-completion reporting, and surety-ready financials, see our Commercial Construction Firms page.

Desk with subcontractor agreements and insurance certificate paperwork for contractor compliance review

We serve businesses like yours

Businesses Like Yours

We work with a wide range of general contracting businesses, including:

nonprofit accounting services
nonprofit accounting services

Residential general contractors

nonprofit accounting services
nonprofit accounting services

Commercial GCs

nonprofit accounting services
nonprofit accounting services

Custom home builders

nonprofit accounting services
nonprofit accounting services

Remodelers

nonprofit accounting services
nonprofit accounting services

Design-build firms

nonprofit accounting services
nonprofit accounting services

Specialty contractors operating as GCs

Why General Contractors Choose Greenwood Ohlund

Decades in construction and real estate accounting

We’ve been doing this since 1971.

Tax, audit, accounting, and CFO expertise, one firm

Most firms our size don’t offer all four under one roof. You get a tax team, an audit team, and a CFO-level advisory team who already talk to each other, instead of coordinating three separate vendors yourself.

Seattle-rooted, with clients across Washington and beyond

We’re based in Seattle and built around the Pacific Northwest, with clients in other states when the relationship calls for it.

A relationship that runs all year, not just tax season

We’re recognized as a Peak Firm and a PSBJ Washington’s Best Workplaces honoree, and that same culture shows up in how we work with clients: regular conversations and actual availability, not a firm you hear from once a year.

EXPERIENCE THE GO DIFFERENCE

Your General Contractors Team

Matt Smith

AUDIT & ASSURANCE

Matt Smith, CPA

Partner

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TAX SERVICES

Paul Jandl

Senior

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TAX SERVICES

Eric Kimpton

Senior Manager

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Riley Stringer

TAX SERVICES

Riley Stringer

Manager

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TAX SERVICES

Michaela Thomassen

Senior

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Jason Mallon, CPA

CFO & ACCOUNTING SERVICES

Jason Mallon, CPA

Partner

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Andrew Van Ness

AUDIT & ASSURANCE

Andrew Van Ness, CPA

Partner

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Brian

CFO & ACCOUNTING SERVICES

Brian Vinciguerra

Partner

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MEET THE TEAM
RECENT NEWS

Latest Updates and Insights from Greenwood Ohlund

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CRUT vs. NIMCRUT: Why the Tax and Distribution Rules Matter

October 21, 2026

Understanding how charitable remainder trusts affect your cash flow, income taxes, and long-term financial planning. Key takeaway: Choosing between a standard charitable remainder unitrust (CRUT) and a net income with makeup charitable remainder unitrust (NIMCRUT) can affect how much income you receive, when you receive it, and how your distributions are taxed. If you own highly appreciated assets, a charitable

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How Outsourced Accounting and AI Can Help Your Business Flourish 

October 13, 2026

A practical look at how AI can make outsourced accounting faster, more insightful, and more valuable to management  Artificial intelligence is changing the accounting profession, but the biggest opportunity is not simply automating bookkeeping.  The greater opportunity is combining AI with outsourced accounting professionals to produce faster financial information, stronger analysis, better documentation, and more useful insight for management.  For

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Business leaders reviewing monthly financial statements after month-end close

Why Closing the Books on Time Matters for Better Business Decisions

September 22, 2026

One of the most common reasons organizations come to Greenwood Ohlund (GO) for outsourced accounting and CAS services is surprisingly fundamental: They are not closing their books and receiving monthly financial statements on time. Timely financial reporting is critical because management cannot make informed decisions without accurate, current financial information. A consistent month-end close gives leadership visibility into revenue, expenses,

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Recent News

Latest Updates and Insights from Greenwood Ohlund

University Child Development School

Client Spotlight Q&A: University Child Development School

May 12, 2026

When did GO start working with UCDS, and how has this partnership evolved over the years?
 GO has proudly partnered with UCDS since 2022 to support the school’s financial stewardship and long-term sustainability. Over time, that partnership has evolved alongside the school’s growth and continued focus on innovative education, strong governance, and mission-driven planning. In what ways does the GO

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Ballard Food Bank

Client Spotlight Q&A: Ballard Food Bank

April 2, 2026

Ballard Food Bank When did GO start working with Ballard Food Bank, and how has this partnership evolved over the years? GO has proudly partnered with Ballard Food Bank since 2010, beginning with onsite monthly accounting support. In 2020, our relationship evolved to providing their annual audit and Form 990 preparation. In what ways does the GO Team support the

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FAQ

General Contractors Accounting FAQs

A contractor CPA handles more than tax filing. We do job costing setup, month-end close, subcontractor 1099 compliance, equipment depreciation planning, and reading profitability by project. We do all of it, so you’re not running your business off a bank balance.

Job costing assigns every labor hour, material purchase, and subcontractor invoice to a specific project, so you can compare estimated cost against actual cost per job. We set up job costing accounting that shows you which jobs earn and which ones don’t.

It depends on your gross receipts and contract length. Long-term contracts generally require percentage-of-completion under §460 unless you qualify for the small-contractor exemption. We determine which method applies and set your books up to match.

Collect a W-9 and a certificate of insurance before a sub starts work, then file a 1099-NEC for reportable payments at year-end. We track this as subs come and go, so you’re not chasing paperwork in January.

Equipment purchases can often be expensed immediately under §179 or bonus depreciation rather than depreciated over years, depending on the asset and your tax position. We run that decision as part of your planning, not after the purchase.

Washington’s B&O tax, retail sales tax on custom construction, and L&I registration rules are state-specific, and a general accountant may not know them. As a CPA for contractors in Seattle, we handle both the federal and the Washington side.

CONTACT US

Let’s Build a Stronger Financial Foundation for Your Business

Job costing, construction bookkeeping, or contractor tax planning — we can take it from here. Reach out and we’ll start with a conversation about what your business needs.

Greenwood Ohlund, PS
4241 21st Ave W, Suite 400, Seattle, WA 98199
(206) 782-1767