Big Opportunities & Common Tax Mistakes For Contractors with Cody Daniels - Builders Tax Group

Building Scale

We interview successful Architecture, Engineering, and Construction (AEC) business leaders to learn how they use people, processes, and technology to scale their businesses.

Big Opportunities & Common Tax Mistakes For Contractors with Cody Daniels - Builders Tax Group

Sep 9, 2025 • 39 mins

Cody Daniels shares his knowledge and strategies for tax in the construction sector and reflects on his entrepreneurial journey. He discusses the benefits and challenges of running a business, the importance of community, and managing strong personalities. Topics include common tax mistakes, construction accounting strategies, and compliance issues with retirement plans. Cody highlights the significance of EOS, quarterly goals, and balancing core tasks with growth and technology. He explores AI's impact on construction and accounting, business survival rates, and misconceptions about accounting and IT services, offering advice for contractors on tax management.

Key Points

Understanding and leveraging industry-specific accounting methods, such as the percentage of completion and completed contract methods, can significantly impact a construction company's tax strategy and cash flow.
Proactively engaging with a specialized CPA for the construction industry can uncover missed opportunities and ensure compliance with complex tax regulations, ultimately enhancing profitability.
Setting structured, short-term goals and utilizing frameworks like EOS (Entrepreneurial Operating System) can help small business owners focus on both immediate tasks and long-term growth, even when operating as a solo entrepreneur.

Connect with Cody Daniels - LinkedIn: https://www.linkedin.com/in/cody-daniels-btg/ Website: https://www.builderstaxgroup.com/ Connect with Justin - Justin's LinkedIn: https://www.linkedin.com/in/justneagle/ Website: https://www.spotmigration.com Do you want to be a guest on the show? Go to https://buildingscale.net/guests Need to discuss your IT and Cybersecurity Strategy? Go to https://buildingscale.net/help

Speakers

Cody Daniels

Guest • 66%

Will Foret

Host • 2%

Justin Neagle

Host • 27%

Justin Neagle

Host • 5%

Chapters

0:00	Cody Daniels' approach to sales and scaling in the construction industry
1:10	Introduction of podcast hosts and mission focus on people, process, and technology
1:59	Cody Daniels' background and entrepreneurship journey in the built environment
6:17	Benefits and challenges of running a construction business
10:27	The role of community and strong personalities in the construction industry
11:13	Common tax mistakes and strategies in construction accounting
17:42	Retirement plans and compliance issues in construction accounting
21:58	Implementing EOS and the importance of quarterly goals in entrepreneurship
24:32	Balancing core tasks with growth and technology in AEC businesses
27:07	Impact of AI on the construction industry and accounting
29:10	Construction business survival rates and the role of accountants
31:23	Misconceptions and ROI of accounting and IT services in construction
34:23	Closing advice for contractors on tax management and accounting
37:11	Contact information for Cody Daniels and final thoughts

Transcript

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