You bid jobs down to the penny. Your financial structure leaks money by the bucket.
Construction firms overpay on workers' comp more than any other industry — typically 15-25% above what proper classification would cost. Combine that with missed equipment deductions and you're leaving six figures a year on the job site.
Based on typical client scenarios. Individual results vary depending on your specific situation.
The problems hiding in plain sight.
These are the issues we see most often with construction & trades businesses. Most owners don't know they have them.
You're Paying Field Rates for Office Workers
Workers' comp is your #1 cost after labor — and most contractors are miscoded. The National Council on Compensation Insurance (NCCI) publishes class codes that vary wildly by job function. If your office manager is coded as a field worker, you're paying 5-10x the correct rate for that employee. This is the most common overpayment in construction and it compounds every renewal.
You're Depreciating Equipment Over 5 Years When You Could Deduct It Now
Section 179 lets you deduct up to $1.16M in equipment purchases in year one. Bonus depreciation covers even more. The Tax Foundation reports that fewer than 40% of eligible small businesses take full advantage of accelerated depreciation. Most contractors take standard depreciation because nobody told them otherwise.
Your Subcontractor Paperwork Is a Ticking Clock
IRS audits on subcontractor classification are increasing in construction. If your subs use your tools, follow your schedule, and work under your supervision — the IRS may reclassify them as employees. The penalties include back employment taxes, penalties, and interest. The Department of Labor's published enforcement data shows construction as the #1 target industry.
Your Balance Sheet Is Capping Your Bonding Capacity
Bonding capacity is directly tied to your financial statements. The Surety & Fidelity Association of America publishes guidelines that underwriters follow. Poor entity structure, commingled personal and business finances, or inconsistent financials can cap your ability to bid on larger projects — even if you have the crew and experience.
Want to see what you're leaving on the table? A 30-minute Foundation Review built specifically for construction & trades.
Book Your Construction & Trades Review →What construction & trades owners get wrong.
And what to do instead.
Not auditing workers' comp classification codes at every renewal +
Taking standard depreciation on equipment purchases instead of Section 179 +
Operating without a documented safety program +
Not verifying subcontractor insurance certificates before every job +
Where the money actually is.
Opportunities we typically identify for construction & trades businesses — and coordinate with your tax and legal professionals to capture.
What a Foundation Review actually looks like.
An anonymized engagement from our work with construction & trades businesses.
Commercial General Contractor
$8.5M annual revenueA 45-person GC had grown steadily but the founder — who personally guaranteed every bond and credit line — carried no life insurance, no disability coverage, and had a basic 401(k) with minimal employer contributions. If the founder couldn't work, the company couldn't bond new jobs and had no succession plan.
- Key person insurance gap: the founder's death or disability would immediately jeopardize bonding capacity, existing contracts, and $8.5M in annual revenue — yet there was zero coverage in place
- No funded buy-sell agreement with the operations manager who was being groomed as successor — verbal promises only
- Basic 401(k) with 3% match was causing the company to lose experienced foremen to competitors offering better retirement benefits
- Also identified: workers' comp class code errors on 12 employees (~$65K/year in overpaid premiums) and $340K in equipment eligible for Section 179 deduction
The Foundation Review resulted in a key person life and disability package protecting the company's bonding capacity, a funded buy-sell agreement between the founder and successor (structured with life insurance through Ash Brokerage), and a redesigned retirement plan that improved employee retention. The workers' comp and tax items were flagged for their P&C broker and CPA respectively.
Details anonymized and modified. Individual results vary — your Foundation Review will be specific to your situation.
We've sat in your chair.
Not just advisors — operators.
Most financial advisors look at your business from the outside. Our team has actually been inside — as internal CFOs, management consultants, and business operators. We've built the financial models, managed the cash flow cycles, and navigated the entity structure decisions firsthand.
That means when we look at your situation, we're not guessing. We've seen the patterns from the operator's seat — and we know which moves actually move the needle.
Good Deals is an independent fiduciary. We don't work for an insurance company or a wirehouse. We work for you. No proprietary products, no sales quotas — just the best path forward for your specific situation.
- CFA charterholder — one of the most rigorous credentials in finance
- Internal CFO experience — we've managed P&Ls, cash flow, and entity structure from the inside
- Management consulting background — financial modeling, growth strategy, and M&A advisory for businesses from startup to $50M+
- Licensed insurance professionals — life, disability, and commercial coverage, not just referrals
- Independent and fiduciary — legally required to act in your best interest
- Austin, TX based — we know the local market, the tax landscape, and the business community
Ready to keep more of what you earn?
30-minute conversation built for construction & trades. No pressure. We'll look at your specific situation and identify the highest-leverage opportunities.
The concepts behind your financial strategy.
Every decision connects to others. Click a node to explore the ideas that drive better outcomes for construction & trades businesses.