JAK + CO.

Certified Public Accountants

Call Our Minnesota CPA Firm: 651.641.1099
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The Secret to Enhancing Profitability for Future Projects

June 29, 2020 By JAK + CO.

By Ethan Cummings, CPA Even the most well-planned project can become chaotic. When this happens, it can feel like you’re getting pulled in a thousand different directions. One minute you’re answering a subcontractor’s question and the next you’re following up with the client. Tracking the job’s direct costs is probably the last thing on your […]

Filed Under: Accounting, Construction, Construction Accounting, Consulting, Ethan Cummings Tagged With: business consulting, Construction Accounting, Job Costing

Could Transitioning to an ESOP Jeopardize Your Company’s Status as a Disadvantaged Business Enterprise (DBE) or Other Preferred-Status Certifications?

April 30, 2020 By JAK + CO.

By Amy Crouzer, CPA Preferred-status certifications, such as a minority-owned or women-owned business designations, are designed to increase economic opportunities for historically disadvantaged groups. Similarly, one of the many purposes of an employee stock ownership plan (ESOP) is to increase economic opportunities for working-class Americans by giving them the opportunity to own stock in a […]

Filed Under: Amy Crouzer, Business Tax, Construction, Construction Accounting, ESOP Tagged With: ESOP, minority owned business

Case Study: How a Construction Subcontractor Improved Profitability by Simply Bridging a Knowledge Gap

February 4, 2020 By JAK + CO.

Andrew F. Knutson

By Andy Knutson, CPA In 2017, we worked with a construction subcontractor that had struggled with profitability in recent years despite many project successes. The company’s bonding agent, who was concerned about the situation, had requested a reviewed financial statement and referred us to provide it. During our initial meeting with the owners and their […]

Filed Under: Accounting, Andy Knutson, Business Tax, Construction, Construction Accounting, Consulting Tagged With: Accounting, Business Management, Construction, Consulting, profitability

What Lessees Should Know About the New Lease Standard

December 17, 2019 By JAK + CO.

By Matt Luckmann, CPA At the end of 2018, the Financial Standard Accounting Board’s (FASB’s) new lease standard, known as “ASC 842,” went into effect for all public business entities. FASB delayed the effective dates for private companies to fiscal years beginning after December 15, 2020. However, this should not be a reason for private […]

Filed Under: Accounting, Audit and Assurance, Construction Accounting, Consulting, Matthew Luckmann

2018 Tax Filing Considerations for Contractors

February 18, 2019 By JAK + CO.

Tax Experts St. paul - Construction CPA St. Paul

For most contractors and construction-related businesses—particularly for those structured as pass-through entities—the 2018 tax season is anything but business as usual. With the Tax Cuts and Jobs Act (TCJA) on the books, there are several tax law changes that could impact your tax filing this year. Here are a few things to consider as you […]

Filed Under: Accounting, Andy Knutson, Business Tax, Construction, Construction Accounting Tagged With: business tax, Contractor

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1781 Prior Avenue North
Falcon Heights, MN 55113
Main 651.641.1099
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John A. Knutson & Co., PLLP

John A. Knutson & Co., PLLP, (JAK) is a Twin Cities-based accounting firm serving clients throughout Minnesota and beyond. A Team Committed to Quality Beyond Expectations

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