Rolling Meadows, IL · CPA Firm

Precision accounting
for those who build
America.

Callahan, Reed & Associates delivers specialized audit, tax, and advisory services with deep expertise in the construction contracting industry.

Our Services Schedule a Consultation
20+
Years Experience
100%
Construction Focus

Our Focus

Built for
contractors.

Construction accounting is fundamentally different from general business accounting. From percentage-of-completion revenue recognition to complex equipment depreciation, bonding requirements, and WIP schedules — the details matter enormously. We have spent years mastering these nuances so your firm doesn’t have to.

What Sets Us Apart

Deep Industry Knowledge
We understand WIP schedules, job costing, surety bond requirements, and the unique revenue recognition standards that define construction finance.
Partner-Level Attention
You work directly with our principals — not junior staff. We prioritize long-term relationships and genuine understanding of your business.
Proactive Advisory
We go beyond compliance to offer forward-looking guidance on tax planning, entity structure, and financial strategy throughout the year.

What We Offer

Comprehensive
accounting services.

From financial statement assurance to tax strategy, we provide the full range of accounting services your construction business requires.

01
Financial Statement Audit
Independent audits that satisfy bonding companies, lenders, and owners — delivered with the construction-specific expertise that your stakeholders expect.
02
Review & Compilation
Financial statements prepared to meet your reporting needs — whether for bonding, lending, or ownership — scaled to the appropriate level of assurance.
03
Corporate Tax Preparation
Strategic tax compliance for S-corps, partnerships, and C-corps in the construction sector, including coordinating 179D deductions, cost segregation analysis, R&D tax credits, and contractor-specific planning opportunities.
04
Individual Tax Preparation
Personal income tax preparation for business owners, partners, and executives — coordinated with your entity returns to minimize overall tax liability.
05
Consulting
Strategic advisory services to help you navigate major financial decisions, business transitions, entity structuring, and growth planning with clarity and confidence.

Why Callahan, Reed

The firm that
speaks your language.

General-practice accounting firms can struggle to understand the financial complexity of construction. We don’t. Our practice is built entirely around the contracting industry — it’s all we do, and it shows in every engagement.

Construction Practice
Our practice centers on the contracting industry. This focus means deeper expertise, faster turnaround, and advice grounded in real industry experience — not textbook theory.
WIP & Job Cost Expertise
We understand percentage-of-completion accounting, over/under billings, and job-costing structures that form the backbone of contractor financials.
Surety & Bonding Support
We prepare financial statements that meet the standards of leading surety underwriters, helping you qualify for the bonding capacity your projects require.
Responsive, Year-Round
Tax season doesn’t define our relationship. We’re available throughout the year to assist with estimates, planning, and financial questions as they arise.
Tax Minimization Focus
From depreciation strategies and retirement planning to entity structuring, we actively look for legal opportunities to reduce your total tax burden.
Local, Trusted Partners
Based in Rolling Meadows, IL, we are a committed local firm with deep roots in the greater Chicago area contracting community.

Get in Touch

Let’s discuss
your firm’s needs.

Whether you’re looking for a new accounting partner, need a second opinion on a financial matter, or want to understand how we can serve your contracting business — we welcome the conversation.

Address Rolling Meadows, IL
Services Audit · Review · Compilation · Tax · Consulting
Industry Construction Contractors
Send us a message.