Haynie & Company

Construction CPAs Who Understand the Business

Haynie & Company has been serving Utah businesses since 1960 and has a dedicated construction industry practice at their Salt Lake City office. They understand that construction companies deal with unique accounting challenges — percentage-of-completion revenue recognition, WIP schedules, retainage tracking, and the financial statements that bonding companies demand.

Most general CPAs treat construction clients like any other business. The problem is that construction accounting is fundamentally different — your revenue recognition method, your treatment of retainage, your WIP schedules, and your overbilling/underbilling analysis all follow rules that don't apply to a retail store or a law firm. Haynie's construction team lives in this world every day.

Why Contractors Choose Them

For contractors seeking bonding capacity, the quality of your financial statements matters enormously. Surety companies don't just want to see a profit — they want to see specific ratios, properly classified assets, and WIP schedules that demonstrate you can manage cash flow across multiple active projects. Haynie's construction CPAs know exactly what underwriters are looking for and can prepare statements that maximize your bonding capacity.

Their tax planning goes beyond basic compliance. They look for construction-specific strategies like cost segregation studies (which can accelerate depreciation on commercial buildings you own), R&D tax credits for innovative construction methods, and the proper election between completed contract and percentage-of-completion methods — choices that can shift tens of thousands of dollars in tax liability.

Why Salt Lake City Contractors Trust Haynie

With over six decades in Utah, Haynie understands the local construction economy — from the seasonal patterns of the Wasatch Front building market to the specific financial requirements of Utah's public project bonding thresholds. They've helped Utah contractors navigate every boom and bust since the 1960s, and that institutional knowledge matters when your surety agent calls with questions about your financials.

The ConstructionPerks Take

We think Haynie & Company is best for: Mid-size Utah contractors ($2M–$50M revenue) who need a CPA firm that speaks construction and can support bonding, job costing, and strategic tax planning.

One thing to think about is the difference between a "general CPA who has a contractor client" and a "construction CPA." Haynie falls in the latter category, and that distinction matters when your surety is reviewing your financials.

Another consideration is proactive engagement. Don't just use your CPA for tax filing — engage them quarterly for WIP reviews and cash flow forecasting. That's where the real value is.

Frequently Asked Questions

What makes Haynie & Company different from a regular CPA firm?

Haynie has a dedicated construction industry practice with CPAs who specialize in percentage-of-completion accounting, WIP schedules, and surety bond financial preparation. Most general CPAs don't have deep experience with the unique revenue recognition and cash flow challenges that construction companies face.

Can Haynie & Company help me get bonded?

Yes — bonding support is one of their core services. They prepare financial statements specifically formatted for surety company review, helping you maximize your bonding capacity. They know exactly what ratios and disclosures surety underwriters look for.

How much does a construction CPA cost in Salt Lake City?

Pricing varies based on the scope of services — basic tax preparation costs less than a full advisory engagement with quarterly WIP reviews and bonding support. Contact Haynie at (801) 972-4800 for a custom quote based on your company's size and needs.

Does Haynie offer cost segregation studies for contractors?

Yes, cost segregation analysis is one of their tax planning strategies. This can accelerate depreciation on commercial buildings or improvements you own, potentially saving significant tax dollars in the years following construction or acquisition.

How often should a contractor meet with their CPA?

Haynie recommends quarterly engagement for WIP reviews and cash flow forecasting — not just an annual tax filing visit. Catching accounting issues mid-year gives you time to make adjustments before they impact your bonding capacity or tax liability.