NB Advisors Helps Philadelphia Construction Companies Navigate Labor Shortages and Cost Inflation With Expert Tax Planning
PHILADELPHIA, PA / ACCESSWIRE / September 12, 2024 / As the construction industry in Philadelphia faces a critical shortage of skilled workers and rising costs due to higher interest rates, local builders are under pressure to manage their finances more effectively. NB Advisors, a leading Philadelphia construction accountant firm, is stepping in to provide specialized financial solutions that help construction companies mitigate these challenges and ensure long-term profitability within the Philadelphia area.
In 2023, the construction industry required over 546,000 additional workers to meet rising labor demands - a shortage expected to worsen in 2024. At the same time, increased financing costs have driven the prices of construction materials and labor, with approximately 82.5% of materials experiencing price hikes averaging 19% since 2020. This inflationary pressure can severely impact project budgets, making it crucial for construction companies to have a strategic financial partner.
NB Advisors, led by Managing Partner Ryan Niedoba and CPA Kevin Niedoba, offers construction companies in Philadelphia a competitive edge through expert tax planning and financial management. With decades of experience and a deep understanding of the construction industry, NB Advisors specializes in helping builders optimize their tax strategies, reduce costs, and navigate the complexities of an ever-evolving market.
"Our focus is on providing construction companies with the financial tools they need to succeed in a challenging environment," said Ryan Niedoba. "From managing the impact of labor shortages to mitigating cost inflation, our tailored tax planning services help construction businesses in Philadelphia thrive despite industry pressures."
In addition to addressing immediate financial concerns, NB Advisors is also preparing clients for the future. With a procurement forecast accounting for over $520 million in upcoming work across multiple trades, including Highway and Bridge Construction, Electrical Installation, and Water and Sewer Structures, the demand for prime contractors and subcontractors is set to rise over the next 18-24 months. NB Advisors ensures its clients are financially positioned to take advantage of these opportunities while minimizing risks and maximizing profitability.
As the only Philadelphia construction accountant firm offering a pricing guarantee, NB Advisors is committed to transparency and client satisfaction. The guarantee ensures that clients never face unexpected charges, making it a trusted partner for construction companies looking to build a solid financial foundation.
For further details about the Philadelphia Construction Accountant services, visit https://nbcpa.us/construction-cpa-accounting-firm/ or call NB Advisors at (856) 334-9711 to book a free consultation.
About NB Advisors:
NB Advisors is a fourth-generation family-owned accounting firm headquartered in Philadelphia, PA, dedicated to helping small businesses minimize their tax burden and maximize profitability. With decades of experience, we offer personalized and innovative strategies to save clients $100K to $1M in taxes while ensuring sustainable business growth. Led by Ryan and Kevin Niedoba, NB Advisors takes pride in treating each client's business as their own, offering proactive, world-class service with a commitment to transparency and excellence.
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SOURCE: NB Advisors
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