James and Harris, CPAs, PA

Eight Decades of Knowing Construction Numbers

James and Harris, CPAs, PA was established in 1946 — making them one of the longest-standing accounting firms in Jacksonville and among the most experienced construction CPAs in the Southeast. Nearly eighty years of serving contractors means they have seen every market cycle, every tax code change, and every financial challenge the construction industry has thrown at North Florida builders. That institutional knowledge translates into tax strategies and financial guidance that general-practice CPAs simply cannot replicate.

Their construction accounting services cover the complete financial lifecycle that contractors need: tax planning and compliance, job costing analysis, work-in-progress (WIP) reporting, percentage-of-completion and completed-contract revenue recognition, and the financial statement preparation that bonding companies require to establish or increase surety capacity. For a growing Jacksonville GC that needs to present clean, construction-formatted financials to a surety underwriter, having a CPA firm that has been preparing bonding-ready financial statements for decades is a genuine competitive advantage.

Beyond compliance work, they provide the strategic advisory that helps contractors make better financial decisions — when to elect S-corp versus C-corp status, how to structure equipment purchases for maximum tax benefit, when to accelerate or defer income based on project timing, and how to manage the cash-to-accrual transition that growing contractors eventually face.

The ConstructionPerks Take

We think James and Harris is best for: Established Jacksonville contractors and builders who need a CPA firm with deep construction industry expertise for tax planning, job costing, WIP reporting, and bonding company financial preparation — not just basic tax return filing.

One thing to think about is the difference between a construction CPA and a general CPA. Construction accounting involves unique concepts — job costing by phase and cost code, WIP schedules, retainage tracking, percentage-of-completion revenue recognition, and lookback adjustments — that general accountants often handle incorrectly. The wrong revenue recognition method alone can create six-figure tax liabilities. James and Harris understands these nuances because construction is their focus, not a side specialty.

Another consideration is the bonding angle. If your company needs to increase its bonding capacity, the way your financials are prepared and presented to surety underwriters directly impacts your bonding limits. A CPA firm experienced in construction bonding financials knows exactly what sureties look at — working capital ratios, WIP schedules, backlog composition — and can help structure your financial presentation to maximize bonding capacity.

Frequently Asked Questions

How long has James and Harris been serving Jacksonville contractors?

James and Harris, CPAs, PA was established in 1946 and has been providing accounting services to Jacksonville-area contractors for nearly 80 years. This longevity means deep institutional knowledge of construction accounting standards, local market conditions, and the financial challenges unique to Northeast Florida builders.

Does James and Harris prepare WIP reports for construction companies?

Yes, work-in-progress (WIP) reporting is a core service. Accurate WIP reports are essential for understanding true project profitability, managing cash flow, and meeting the financial reporting requirements of bonding companies and lenders who evaluate construction firms.

Can James and Harris help increase my bonding capacity?

Yes, they prepare financial statements specifically formatted for surety underwriter review. Experienced construction CPAs understand what bonding companies evaluate — working capital adequacy, WIP schedule health, backlog composition, and equipment equity — and can advise on financial positioning to maximize your bonding limits.

What accounting method should my construction company use?

The choice between cash, accrual, completed-contract, and percentage-of-completion methods has significant tax implications. James and Harris can advise on the optimal method based on your company size, project duration, revenue thresholds, and IRS requirements. The wrong method selection can create unexpected tax liabilities.

Does James and Harris handle construction payroll and certified payroll?

Contact the firm to discuss whether payroll services, including certified payroll for prevailing wage projects, are included in their service offerings. Construction payroll involves unique complexities including multi-trade taxation, union reporting, and prevailing wage compliance that general payroll providers often struggle with.