Helping Engineering & Architecture Firms Build with Confidence
Engineering and architecture firms operate at the intersection of professional services and project-based delivery. Managing complex multi-entity structures, billing arrangements, revenue recognition standards, and the perpetual challenge of succession in a founder-driven industry demands a financial partner who understands your operation’s complexities firsthand.
At hfco, we have worked alongside engineering, architecture, consulting, and professional services firms for decades.
We’ve supported professional service firms for decades helping to navigate industry challenges.
Revenue recognition on long-term contracts
Engineering and architecture firms frequently work on multi-year projects billed under percentage-of-completion or milestone-based arrangements. Applying the right revenue recognition standards ensures your financials accurately reflect project economics and hold up under lender and buyer scrutiny.
Multi-entity and multi-office structures
Many engineering and architecture firms operate across multiple offices, LLCs, or joint venture structures. Simplifying reporting, tax strategy, and compliance across entities provides the clarity your leadership needs to manage the whole business.
Tax strategy and multi-state compliance
Firms that operate across state lines or employ remote staff often create tax nexus obligations they are not fully aware of. Multi-state income tax apportionment, payroll compliance, and sales tax on certain services require proactive management before the exposure accumulates.
Overhead Allocation
Accurate overhead is one of the most difficult and most impactful areas for firms to get right. We work with your team to refine overhead allocation methods, align your rates with current operations, and establish the right multipliers to support sustainable profitability.
Leadership development and next-generation readiness
Many engineering and architecture firms are founder-led or partner-led, with the next generation developing within the firm. Building the management capability and financial literacy of that next tier is what allows a firm to grow beyond its founding partners.
Succession, merger, and ownership transition
Structuring partner compensation plans, buy-sell agreements, and leadership transitions require careful financial coordination to preserve both the firm’s value and culture. Ownership transitions in professional services firms are especially complex, as much of that value is tied to individual relationships and institutional knowledge.
Engineering & architecture expertise — from project accounting to partner transitions
hfco brings deep knowledge of engineering and architecture firms and a full suite of advisory services to every engagement.
Decades
serving engineering, architecture, and professional services firms in NJ and PA
Deep expertise
in long-term contract accounting, multi-entity structures, and partner transitions
Highly customizable
services tailored to the specific demands of your firm
Independent
objective guidance and support
How Holcomb Transportation found an advisor who shows up for every decision, not just year-end.
Holcomb Transportation has operated New Jersey’s school bus routes for decades, growing into a complex organization with 16 entities, rental properties, and a leasing operation. Since 2016, Ken May and the Haefele Flanagan team have been a constant presence — not just at year-end, but multiple times a week, weighing in on everything from vehicle purchases and property acquisitions to cost segregation studies and long-term growth strategy.
Trusted by specialty contractors. Proven in the field.
Dave Gill is always very responsive and I feel like hfco truly has my best interests at heart. They’re not just thinking about my businesses; they’re thinking about my family, my personal goals, and my overall tax situation. I trust Dave and the hfco team completely, which makes it easier to focus on running and growing my business, knowing the tax side is covered.
Rob DePiero
Founding Principal, VanRock Properties
What engineering & architecture clients ask us most
Does hfco have experience with long-term contract accounting for engineering firms?
Yes. Revenue recognition for long-term contracts, including percentage-of-completion accounting, is a core part of our professional services expertise.
Can hfco help with partner compensation and buy-sell agreements?
Does hfco work with multi-office or multi-entity engineering firms?
Can hfco help our firm with succession planning?
Yes. Succession planning in professional services firms is complex. Our professionals guide you through all aspects of the journey.
Is an initial consultation free?
Our insights on engineering & architecture
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Ready to work with a firm that understands your business
Wherever you are in your business journey, we’re here to help you move forward.