Built for specialty contractors & the businesses behind every job site
Specialty contractors and HVAC professionals operate at the intersection of two financially complex worlds: the project-driven demands of construction and the recurring revenue dynamics of service and maintenance agreements.
At hfco, we understand both. We have served HVAC, roofing, painting, electrical, plumbing, landscaping, and other specialty contracting firms across the US.
We understand the operational, financial and strategic challenges that drive your business.
Managing recurring revenue and service agreement accounting
Service agreements and maintenance contracts are the financial backbone of a construction services business. Recognizing that revenue correctly, tracking deferred revenue, and matching costs to the right periods requires accounting discipline that most general accountants do not have.
Seasonal cash flow against fixed overhead
Service businesses run at full cost year-round but rarely at full revenue. When demand dips, payroll, insurance, fleet costs, and facility expenses keep running. Building a cash flow model around your seasonal cycles gives you the visibility to manage through every month of the year.
Job costing and margin visibility
Many contractors look at total revenue and assume the business is performing well however without visibility into margins by job, it’s hard to know what’s truly profitable. By breaking down labor, materials, equipment, and subcontractor costs, job costing shows where money is made or lost – helping you estimate better, manage costs, and focus on the most profitable work.
Tax planning for service-based contractor structures
Service businesses operate across a range of entity structures, often with vehicles, equipment, and real property in the mix. Depreciation strategies, multi-state payroll and sales tax obligations, and owner compensation planning all reward proactive tax strategy.
Inventory and equipment management
Parts inventory, service vehicles, and field equipment represent significant capital in a construction services business. Tracking inventory accurately and accounting for equipment depreciation and replacement cycles affects both your tax position and your true understanding of operating costs.
Succession planning for service business owners
Many specialty service businesses are built around the owner. While that tight control can drive strong client loyalty, it also concentrates much of the company’s value in one person. That’s what makes succession planning more nuanced. It’s not just about transferring ownership, but preserving trust, continuity, and the legacy behind the business.
Construction services expertise — built for businesses that run on recurring revenue
hfco brings deep knowledge of service-based contracting and a full suite of advisory services to every engagement.
serving construction and specialty contracting firms
Multi-Generational
client relationships across a wide variety of specialty contracting
NJACCA member
New Jersey Air Conditioning Contractors Association
BIA member
Building Industry Association of Philadelphia
What it looks like to grow with the right advisor behind them.
A construction services contractor has grown significantly over the past decade, and hfco has been at the table through every stage. From tax planning and audits to stock valuations, multi-state compliance, and succession planning, the relationship has expanded alongside the business. When critical decisions arose, hfco connected the team with the right people and the right answers.
Trusted by specialty contractors.
Proven in the field.
It's just more than accounting. They help me with estate planning, keep me ahead of law changes, facilitate meetings for succession planning — and it all comes down to the relationship.
Toby Chrostowski
President, Jottan
I don't see my involvement with accounting or consulting as transactional — I see it as partnering. It really is a good group. It really is a sincere group. And I think that's important.
Mike Rosen
Chairman, Advisory Board, Commercial Cleaning Corp
When we sat down with three different firms, the question was: what's your experience in construction? hfco eclipsed everybody. That's how they made us feel very comfortable.
Joe McColgan
Partner, Wescott Electric Company
What construction services clients ask us most
Does hfco work with HVAC and specialty contractors specifically?
Yes. We have served HVAC, roofing, painting, electrical, plumbing, landscaping, and specialty contractors across New Jersey and Pennsylvania for more than fifty years. We understand the unique financial dynamics of businesses that combine project-based construction work with service and maintenance agreements.
Can you help with revenue recognition for service agreements?
Yes. Revenue recognition for service and maintenance agreements is governed by specific accounting standards that differ from project-based construction revenue. We help specialty contractors apply the right treatment.
Do you assist with multi-state contractor compliance?
Yes. Many specialty contractors operate across state lines, creating nexus, licensing, payroll, and sales and use tax compliance requirements in multiple jurisdictions.
Is an initial consultation free?
Yes, your initial consultation is complimentary.
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Searching for the right partner who understands the nuances of your services? Contact us.