Maximize the amount for your business when it comes time to sell.
Once or twice a year I get a call from some contractor's accountant asking for guidance on evaluating the worth of his client's business. Usually, it's because the contractor is looking to sell the business either to retire or do something else. (Pardon this digression, but accountants aren't the best people to arrange the sale of your business. CPAs may be good at counting beans but most don't have a clue about selling anything. You wouldn't call your accountant to help sell your home, you'd go to a realtor. With a business, you'd be better off recruiting a business broker.)
Even when it comes to accounting, most accountants do not understand construction businesses. The financial structure of a construction firm is much different than that of companies that make things or sell merchandise, which is what you'll find in most accounting textbooks. A construction company typically doesn't have much in the way of tangible assets. The real value of the business is its intellectual property; that is, the know-how, along with know-who. There's also a considerable amount of what's known as "goodwill," which basically refers to the reputation of a business.