Deposits, progress billing, change orders, retainage and subs all move cash before a job is finished. IncSight gives U.S. general contractors and remodelers job-level numbers, a clear view of what each job has really earned and year-round tax planning from a team of CPAs and IRS Enrolled Agents.
An accountant for general contractors tracks each job’s real numbers: estimated vs. actual cost, change orders, retainage and a work-in-progress (WIP) schedule that shows which cash is earned and which is still owed in work. IncSight, founded by IRS Enrolled Agent Israel Díaz, adds year-round tax planning on contract accounting methods, subcontractor 1099s, equipment and owner pay. The IncSight team includes CPAs and IRS Enrolled Agents.
The bank balance looks strong, but $118,000 of it is customer money for work not done yet — and $22,400 of approved changes still has not been billed.
The figures use sample data. They are not client results.
Most GC profit problems hide inside open jobs. They show up when you compare estimate to actual, and billing to progress, one job at a time.
Extra work agreed on site is never written up, priced or invoiced. Each one looks small; across a year of jobs, unbilled changes can decide whether a job ends with a healthy margin or a thin one.
When nobody compares estimated cost to actual cost after a job closes, the same underpriced line items get bid again on the next job — and the one after that.
Front-loaded deposits and draws feel like profit. When they fund overhead or finish the previous job, the business comes up short when the current job’s materials and subs come due.
Paying subs on time while you wait on progress payments stretches cash thin, especially near the end of a job, when retainage is still being held and the final draw depends on the punch list.
Contracts that span months, retainage, subcontractors and equipment all affect when income and deductions land. These are the topics we work through with GCs before the year closes.
Jobs that start in one year and finish in the next raise a timing question: percentage-of-completion or completed-contract. Smaller contractors that meet the IRS gross-receipts test can often use simpler methods on qualifying contracts. Choosing and documenting the right method changes when income is taxed.
Retainage is money you have billed but cannot collect until the job, or a phase of it, is accepted. When it counts as income depends on your accounting method and your contract terms, and in the meantime it is cash you are carrying for the customer.
Collecting a W-9 before the first payment and filing Form 1099-NEC on time keeps penalties and backup-withholding problems away. We set up your vendor records during the year so January is not a scramble.
Vehicles and equipment can often be written off faster through Section 179 or bonus depreciation, depending on the asset and that year’s rules. We weigh the deduction against cash and financing before you buy, because a write-off still spends money.
Many GCs keep operating as an LLC taxed like a sole proprietorship long after an S-Corp election would make sense, while others elect too early. We compare both on your actual profit and set a reasonable salary that holds up.
Sureties and lenders want accrual-basis financials and a work-in-progress schedule that ties to your books. Clean, current books are the starting point; WIP schedules and surety or bonding support are scoped and quoted for your jobs, so the statements your surety, lender or outside CPA asks for start from clean numbers.
General education, not tax advice. How these rules apply depends on your entity, your accounting method and your state.
Reviewed by Israel Díaz, IRS Enrolled Agent · Updated November 9, 2026
For General Contractor business owners
We build these into your reporting, based on the scope you need, so you see each job’s real position while there is still time to act, not after the final invoice.
Closed jobs compared line by line, so the next estimate is built on what jobs really cost.
What you have billed compared with the work actually done, so you know which cash is earned and which is still owed in work. Available as a scoped WIP schedule.
Approved changes written up, priced and invoiced, then tracked until they are paid.
Kitchens, additions, full remodels and new builds compared on their own numbers.
How long cash sits with customers after the work is done, and how much retainage is still outstanding.
A remodeler signs a $400,000 job with an estimated cost of $320,000. Midway through, the work-in-progress schedule shows where the job really stands.
The account holds $80,000 more than this job has earned, and that money will be needed to finish it. Spending it on overhead or on the next job is how profitable contractors end up short on cash.
Hypothetical numbers for illustration only. Not a client result.
Every general contractor business we work with is building toward the same three outcomes. We find your stage, name the constraint holding you back, give you the next action and measure the result.
Scale revenue, improve margins, build systems, and create a business that grows without depending entirely on you.
Proactive tax strategy that keeps more money in your pocket. Entity structuring, compensation planning, and year-round optimization.
Build a business worth selling — or one that funds the life you want. Wealth positioning, succession planning, and long-term security.
IRS Enrolled Agent · 500+ Businesses · Xero Platinum Partner
Israel Díaz is an IRS Enrolled Agent, authorized to represent taxpayers before the IRS, and the founder of IncSight. His team of CPAs and IRS Enrolled Agents works with general, HVAC, plumbing and electrical contractors on the three things that decide what an owner keeps: clean job-level books, a cash plan and tax decisions made before the year ends. For general contractors, that usually starts with a monthly WIP schedule, job costing that compares estimate to actual, and a plan for owner pay and equipment before December.
Verified reviews from our Google profile, written by business owners across industries.
“These guys took over my account after I had to let go of my last CPA. They reviewed my books and found a huge mistake by my last bookkeeper. IncSight helped fix my books AND found more tax savings for our business resulting in a $69K refund back to us. They’re very detailed, professional and personable.”
“Insights AND Accounting Too! That’s what I love about IncSight. Too often I find accountants that understand the detail, but can’t see the business. Or those who think bigger, but miss the details. With Tony and IncSight, I get both.”
“Highly recommend Israel and his team! By far the best accounting and bookkeeping firm I have ever used. They offer tax savings insights and training resources as well, which adds so much value. All of their team is super responsive, knowledgeable, and friendly!”
“I’ve been working with IncSight for a number of years. Richard always goes above and beyond what we’re entitled to in our contract. They were incredibly patient and understanding of our situation. Highly recommend this firm to new business owners and growing companies!”
“Richard from IncSight has been outstanding with his prompt communication, making everything as understandable as possible, timely filings, and insightful annual meetings. We appreciate his eagerness to assist a small business like ours.”
“As a business owner, I couldn’t have reached my current success without IncSight. Their team is incredible — professional, supportive, and always there to help. IncSight eliminates the confusion surrounding taxes and business finance, allowing you to focus on growing your business.”
“IncSight’s team has been amazing (especially Israel and Lisa). After years of rag-tag accounting, our books are not only set up correctly, but can be maintained going forward. The responsiveness is too good to be this consistently true. Highly recommend.”
“I started working with IncSight just as my business started to take off. I had already royally screwed up my books, was a couple months behind on taxes. Israel and his team went through all my past transactions, straightened everything out, and got me back on track. I can’t recommend them highly enough!”
“The most helpful CPA/Accounting/Bookkeeping firm I have ever worked with. They are easy to talk to and work with AND they are very forthcoming — answering questions before I think of them. They know the pain points of small businesses and they are proactive with their help. HIGHLY RECOMMEND.”
“I was fortunate to find IncSight when I was looking for an accounting group to manage the books/taxes for my research business. They’ve been exceptional at every step. I would recommend IncSight to any business who wants A+ work and good connectivity to QuickBooks.”
“Love working with Richard at IncSight. He is always so responsive to any question and explains everything in simple terms. We’ve worked with IncSight for 4yrs+ now with multiple businesses and will continue to work with them.”
“Great small business tax accountants. I like that they work with fitness business owners like myself. Their prices are very fair, prompt responders and help you outside of the general tax season. I recommend them for sure!”
Yes. Our focus is U.S. residential, remodeling and light-commercial general contractors with revenue from around $500,000 and up. We also work with HVAC, plumbing and electrical contractors.
A work-in-progress schedule compares, job by job, what you have billed with what you have earned based on progress. It shows over- and under-billings, which tells a surety or lender whether the cash in your account is really yours. We prepare and update WIP schedules as a scoped service, quoted for your jobs.
It depends on your accounting method and your contract terms. Under the cash method, retainage is generally income when you receive it; under accrual methods the timing follows when you have a fixed right to it. We track retainage separately so it is planned for, not discovered.
Not always. Smaller contractors that meet the IRS gross-receipts test can often use other methods for qualifying long-term contracts, while larger contractors generally must use percentage-of-completion. The right choice depends on your revenue, your contracts and what your surety needs.
Generally yes, for unincorporated subcontractors you pay above the IRS reporting threshold during the year. Collect a W-9 before the first payment so you have the right name and taxpayer ID when January comes.
Yes. Our team includes licensed CPAs and IRS Enrolled Agents, and founder Israel Díaz is an IRS Enrolled Agent. We handle bookkeeping, tax preparation, tax strategy and advisory. If your surety or lender requires audited or reviewed financial statements, those come from an independent CPA firm, and we keep your books and WIP schedule ready for that engagement.
You pick the area that matters most right now — growth and scale, tax savings, or exit and retirement — and answer a focused set of questions. You get a clear next step for your business and the free Contractor Growth Guidebook. No cost and no commitment.
It depends on your contracting business, so we don’t publish monthly prices. You can start with the Growth Blueprint, a one-time $995 diagnostic, or book a free discovery call. After the call we send a proposal with clear options for bookkeeping, tax and advisory, based on your numbers.
Start with the free assessment, go deeper with the Growth Blueprint, or book a call for a custom proposal.
Book a free discovery call. You get a proposal with clear options for bookkeeping, tax and advisory, built on your numbers.
Book a Discovery CallSee exactly what is limiting your growth before committing. One-time $995 diagnostic.
No cost. Pick growth, taxes or exit and get clear on where your business stands today.
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