FinTruction

FinTruction Construction CFO services for contractors.

Bookkeeping • Job Costing • Lender Financials • WIP & Retainage Tracking • Cash Flow
Construction Accounting Experts | Trusted by 25+ contractors
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09/03/2026

The ERC was written in an emergency and administered by refund check, which means the IRS paid claims fast and now has to reach backwards through a much larger pile to find the bad ones. The 2023 moratorium and the current wave of document requests are that reach. Three eligibility routes to defend on: full or partial suspension by government order, significant decline in gross receipts (50% for 2020, 20% for 2021), or recovery startup business status (Q3/Q4 2021 only).

Documentation the IRS wants. Copies of the actual government orders you claimed suspension under, calendar showing suspension dates by quarter, gross receipts comparison worksheets, and wage detail by employee by quarter. Vague “COVID impact” or “supply chain issue” language without specific order citations gets denied.

What OBBBA changed. §70605(d) disallowed Q3/Q4 2021 claims filed after January 31, 2024 as to amounts unpaid on July 4, 2025. Assessment period extended from 5 years to 6. VDP with 80% repayment closed late 2024.

THE FIX:
Respond to any IRS document request within the stated window. Extension available but requires written request.

Pull the actual government orders you claimed suspension under. Specific state or local citations required; generic references get denied.

Build gross receipts comparison worksheets by quarter for route 2 claims. 50%/20% decline vs same quarter of prior year.

Retain tax controversy counsel if the claim is $100K+. Promoter engagement letters don’t cover audit defense.

We do a free 48-hour audit of your construction books. We review what you’ve got, flag where you’re exposed, and send back what it’s actually costing you, within 48 hours.

Comment “AUDIT” and we’ll send the link over.

This content is for educational purposes only. Every business is different. Before making any changes to your books, reach out to us for guidance specific to your situation.

09/02/2026

Tax-favored retiree healthcare exists inside the pension code, not next to it. §401(h) lets a defined benefit or cash balance plan carry a subordinate medical account funded with deductible contributions, growing tax-deferred, distributed tax-free for qualifying medical. The catch is that it’s subordinate: the plan has to be primarily a pension, and the medical piece rides along under specific limits.

Subordination per §401(h)(1), implemented through Reg. §1.401-14(c)(1)(i). Medical contributions capped at 25% of aggregate contributions to the plan other than those funding past service credits. Past service carves out of the denominator.

Key employee separate account per §401(h)(6). Contributions for key employees (owner-operators almost always qualify) must go in a separate account. Those amounts count against §415(c) annual addition limit for that key employee, reducing room for other qualified plan contributions dollar-for-dollar.

THE FIX:
Confirm existing DB or cash balance plan is in place. 401(h) is subordinate to a qualified pension; no standalone.

Confirm your TPA can administer a dual-account DB plan before you amend anything. Most cannot. Ask them directly whether they currently administer §401(h) accounts with key employee sub-accounts, and get the answer before your plan attorney drafts.

Amend plan document to add §401(h) language plus §401(h)(6) key employee separate account provisions. Requires plan amendment and IRS determination letter for reliance.

Model §401(h)(1) subordination and §415(c) key employee interaction. Past service credits carve out of denominator; §415(c) room shrinks correspondingly.

We do a free 48-hour audit of your construction books. We review what you’ve got, flag where you’re exposed, and send back what it’s actually costing you, within 48 hours.

Comment “AUDIT” and we’ll send the link over.

This content is for educational purposes only. Every business is different. Before making any changes to your books, reach out to us for guidance specific to your situation.

09/01/2026

Goodwill on your balance sheet is what you paid over fair value of identifiable assets, which is a polite way of saying it represents the people, the customer relationships, and the operational engine of the target. When those things degrade or walk, the number stops being justified.

Step 0 qualitative assessment. Available to all entities, not just private companies. Assess qualitatively whether it’s more likely than not that fair value is less than carrying amount; if not, skip the quantitative test.

Private company alternative under ASU 2014-02. Elect to amortize goodwill over 10 years and drop the annual testing requirement (testing required only on triggering events). Contractors elect this primarily to eliminate annual testing cost.

Triggering events. Loss of key contract, key employee departure, bonding capacity reduction, adverse regulatory action. Any of these triggers interim testing regardless of election path. Impairment loss capped at goodwill carrying amount.

THE FIX:
Decide between annual testing and ASU 2014-02 amortization at year-end following the acquisition. Amortization simpler and drops annual testing; testing preserves the asset.

Assign goodwill to reporting units at acquisition. Documentation now saves rework at impairment testing.

Test quantitatively on any triggering event regardless of election. Loss of key contract, key employee departure, bonding capacity reduction all require interim testing.

Coordinate impairment testing timing with surety and lender. Write-down affects covenants and bonding capacity; give advance notice.

We do a free 48-hour audit of your construction books. We review what you’ve got, flag where you’re exposed, and send back what it’s actually costing you, within 48 hours.

Comment “AUDIT” and we’ll send the link over.

This content is for educational purposes only. Every business is different. Before making any changes to your books, reach out to us for guidance specific to your situation.

08/31/2026

Coverage scope and period. Covers physical damage to the structure, materials at site, in transit, off-site. Named perils covers listed causes. All-risk covers causes not excluded (typically flood, earthquake, mold, faulty workmanship in damaged property). Policy runs permit through COO with 90-day delayed-completion extension.

Soft costs endorsement. Covers delay costs after covered physical damage: interest, extended overhead, design fees, permit renewal, marketing. Hard-cost-only policy leaves these on owner/GC balance sheet.

Waiver of subrogation. Endorsement waiving insurer’s right to recover from owner, GC, subs. Without it, insurer pays the loss then sues the sub who caused it. AIA A201 requires it.

THE FIX:

Bind builders risk before on-site work. GL doesn’t cover the structure; gap between permit and policy is uninsured.

Elect all-risk form over named perils. All-risk excludes less; catches losses named perils miss.

Add soft costs endorsement on projects with debt or hard delivery dates. Physical damage often costs less than the delay.

Confirm waiver of subrogation in the policy. AIA A201 requires it; missing waiver creates GC-sub litigation risk.

Structure named insureds correctly. Owner + GC + all sub tiers; missed party = missed coverage.

We do a free 48-hour audit of your construction books. We review what you’ve got, flag where you’re exposed, and send back what it’s actually costing you, within 48 hours.

Comment “AUDIT” and we’ll send the link over.

This content is for educational purposes only. Every business is different. Before making any changes to your books, reach out to us for guidance specific to your situation.

Your job cost report catches materials, labor, and subs. Those are the big three, and most bookkeepers get them right.Th...
08/31/2026

Your job cost report catches materials, labor, and subs. Those are the big three, and most bookkeepers get them right.

The problem is everything else.

Small tools, blades, fasteners, and PPE get dumped into a general "supplies" bucket instead of the job that used them.

Change order revenue gets billed right away. But the extra labor and rush materials behind it don't get tracked the same way.

Rework and warranty callbacks get coded to overhead. So the job that needed the redo still shows its original margin.

Even freight, rush delivery, and dumpster rentals get buried in "operating expenses" instead of the job that generated them.

And one invoice from your sub covering three phases of work can get coded to a single lump bucket. Now you've lost visibility into which phase actually made money.

None of it looks like an error. It just adds up quietly until the job made less than you thought.

Where do you think your numbers are hiding it?

Book your free 48-hour audit from the link in bio.

08/30/2026

Paulo runs . Six days left, and a notice of cancellation sitting on his desk. The audit closed with the carrier owing him two dollars.

His workers comp premium audit had been pushed down the road since February.
He was out of extensions.
His 1099s were not filed.
And every dollar he had paid his subs was about to get rated as payroll, which is how a routine annual audit turns into a premium bill big enough to end a season.

The audit was never the problem. Nobody had answered it.

We ran his books over a weekend, filed the late 1099s, chased the certificates, and got the whole package to the auditor before the deadline. It closed rated on his actual remuneration, not his subcontractor spend. No additional premium. Two dollars back in his favour.

Then we cleaned up the books underneath it, so next February is a morning's work instead of a fire.

This is what we do at FinTruction. We are a construction accounting firm built exclusively for contractors. One flat monthly fee. One team handling everything - bookkeeping, controller services, CFO-level oversight, and tax planning.

Here is what we take off your plate:
Job costing by phase
WIP schedules, always current
Retainage tracked as a separate receivable
Progress billing and change orders handled correctly
Cash flow visibility across all active jobs
Books that are ready when the carrier comes asking

We work with general contractors, roofers, electricians, concrete crews, plumbers, and specialty trade contractors across the US.

Got an audit coming up, or books you would rather not show anyone?
Comment AUDIT and we will DM you the details of our free 48-hour audit.

We review your job costing, WIP, cash flow, and retainage, and send you a complete report on what needs fixing.

08/29/2026

FL licensing runs on Florida Statutes Ch. 489 (CILB) and Ch. 489 Part II (ECLB). Certified license (through DBPR) holds statewide authority; registered holds only local (county/municipal) authority. Unlicensed contracting is a first-degree misdemeanor under §489.127.

Classifications map to scope. CGC (Certified General): unlimited commercial + residential. CBC (Building): up to 3 stories. CRC (Residential): 2 stories, 3,000 sq ft. Specialty (roofing, plumbing, HVAC) for single-trade.

THE FIX:
Choose certified over registered for multi-county work. Registered is county-locked; certified travels statewide.

Match classification to scope. CGC unlimited, CBC 3-story, CRC 2-story residential, specialty per trade.

Post financial responsibility per §489.115 before applying. Credit 660+ or $20K bond.

Register for both exams (Business & Finance + Trade) at application. Prometric; 60-70% first-attempt pass rate.

Never sign a Florida contract before license issuance. §489.127 misdemeanor + §489.128 blocks payment recovery on completed work.

We do a free 48-hour audit of your construction books. We review what you’ve got, flag where you’re exposed, and send back what it’s actually costing you, within 48 hours.

Comment “AUDIT” and we’ll send the link over.

This content is for educational purposes only. Every business is different. Before making any changes to your books, reach out to us for guidance specific to your situation.

08/28/2026

§280G scope. C-corp change-in-control only. §280G(c) “disqualified individual” = 1%+ shareholder, officer, or highly-compensated.

Parachute calculation. Payments compared to 3x base (5-year W-2 average). Under 3x: no §280G. At or above 3x: payment above 1x base is “excess parachute payment,” 20% §4999 excise plus lost corporate deduction. Triggers: change-in-control bonuses, option vesting, severance, retention, non-competes.

Structuring. Cutback (payments to 2.99x base). Gross-up (corp covers excise; disfavored). §280G(b)(5) shareholder approval exemption for private companies: 75%+ vote after full disclosure.

THE FIX:
Filter for entity type first. C-corp only; S-corp and LLC don’t trigger §280G.

Run the 3x safe harbor first. Total payments under 3x base = §280G doesn’t apply.

Identify disqualified individuals per §280G(c). 1%+ shareholders, officers, highly-compensated; not every employee.

Consider §280G(b)(5) shareholder approval exemption for private sales. 75%+ vote after disclosure removes parachute treatment.

Coordinate with M&A counsel at LOI stage. Cutback vs gross-up vs shareholder approval drives net proceeds to sellers.

We do a free 48-hour audit of your construction books. We review what you’ve got, flag where you’re exposed, and send back what it’s actually costing you, within 48 hours.

Comment “AUDIT” and we’ll send the link over.

This content is for educational purposes only. Every business is different. Before making any changes to your books, reach out to us for guidance specific to your situation.

08/26/2026

State-level bans predate the FTC rule, which was struck down by federal courts before it ever took effect. California (BPC §16600) voids nearly all employee non-competes. Minnesota (2023) prohibits new ones. ND and OK also void most. CO, IL, WA, OR restrict by income threshold.

Practical alternatives. Non-solicitation of customers and employees (broadly enforceable). Trade secret protection under state UTSA and federal DTSA. Garden-leave. NDA agreements.

THE FIX:
Audit existing non-competes for state-law enforceability. CA, MN, ND, OK void most; other states enforce with limitations.

Layer protections beyond the non-compete. Customer non-solicit, employee non-solicit, trade secret protection, NDA outlast most non-competes.

Document trade secrets contemporaneously. UTSA and DTSA protection require the information be treated as secret; unmarked documents undermine the claim.

Consider garden-leave for senior roles. Paid transition lets you manage the departure without non-compete enforcement.

Coordinate with employment counsel on state-specific drafting. Multi-state employees need agreements enforceable in each work state.

We do a free 48-hour audit of your construction books. We review what you’ve got, flag where you’re exposed, and send back what it’s actually costing you, within 48 hours.

Comment “AUDIT” and we’ll send the link over.

This content is for educational purposes only. Every business is different. Before making any changes to your books, reach out to us for guidance specific to your situation.

You have retainage sitting out there right now. More than you think.Money you already earned. Nobody chasing it.Retainag...
08/26/2026

You have retainage sitting out there right now. More than you think.

Money you already earned. Nobody chasing it.

Retainage hides because it ages by a different clock.

A regular invoice past 60 days is a red flag. Someone chases it.
Retainage past 60 days reads as "still waiting on release." So it just sits.

And the longer it sits, the harder it gets to collect.
Past 180 days you're into write-off risk. Disputes, a GC going under, lien rights expiring, paperwork nobody filed.

A contractor doing $3M a year at 10% retainage generates $300k of it across the year.

Cash feels tight and you blame billing.
It's not billing. It's 10% of everything you've built sitting on somebody else's balance sheet.

When did you last pull a retainage aging report, separate from AR?

Book your free 48-hour audit from the link in bio.

If we miss the deadline, we work free for 30 days.

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215 N MOORE Road APT 3024
Coppell, TX
75019

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