Staying on Top of Construction Financials with Tim Savre
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Why are builders rushing to close books only at tax season?
All right, welcome to another episode of Builders, Budgets, and Beers. Reece and I are back for the first time in 2025, and we have a longtime friend, Tim Savre, on the podcast. Tim cut his construction finance teeth at month end with our good friend, Chris Anderson, and has since moved on to the flashy NS Builders out of Boston. You might know Nick Schiffer, who runs the Modern Craftsman podcast.
um and what did we talk with tim about today reese or what are we going to talk with him yeah what are we going to talk to tim about is why it seems like the the roadblock is we got to get ready for taxes as a contractor but really unpacking what creates that type of mentality of getting ready for taxes at the end of the year beginning of the year rather um going through you know the importance of tracking costs and expenses consistently throughout the year doing month-end closeouts consistently understanding cash positions, understanding what the P&L and the importance of looking at that on a monthly or quarterly basis will do for you. There's a lot of good stuff in here that ultimately compounds up into this big rush at tax season.
Yeah. Yeah. I think basically in the spirit of tax season right now, what we're hearing from a lot of builders out in the market is just, hey, I'm busy right now trying to prepare for taxes. And what we talked about today is how Essentially, a lot of people think the only reason to close your books every month is so you can have accurate financial reporting for taxes. But there's a lot more beyond that. There's a lot more of a reason to close your books regularly. So that's what we talk about today.
Who is Tim Savre and what experience does he bring to construction finance?
I think it's a good episode. Let's get into it.
Tim, love having you on, dude. super exciting guys you're just you're just a wealth of knowledge can't wait to tap into it for our listeners um well let's just have you dive in give us a little background on yourself tim don't go too long long intros kind of become a snooze fest you know give us a little how you got into the industry background who you're working with now your mba keep your social security to yourself keep it short 30 seconds let the let the people know who tim sovereign is
yes a couple couple friends actually we all raced bikes professionally um one of them was a controller of a home building company and he saw a need for this this niche and we all came together we worked on a project i kind of spun off my own direction about a year ago and joined ns builders so we're out of boston and i've been the controller for nick out there for the last year um and we're using adaptive across several of his companies
love it no we don't we don't want this to be a big adaptive plug okay i always like to preface that so we just we want we want to talk we want to talk action oriented takeaways for the uh for the listeners but that's great you're working with old nikki schiff up in uh up in boston great guy yeah building some fun some fun projects right now we got a big like custom 10 million dollar build going on so we're staying busy love that Love that. Well, cool. Well, let's jump in. Tim, I thought it would be interesting to just with like your background, the number of builders that you've worked with, obviously, you know, your focus and skill set today with Nick and the NS team. I wanted to hear your take on, you know, we'll just call it tax season.
Okay. I figured it'd be fitting this time of year. We hear a lot of builders that get kind of stressed out about it. A lot of office staff is kind of like this, like hustle race to the finish line up against the clock type mentality in Q1. And I wanted to hear your take on it, why it happens, how to prevent it. what are the important pieces to how to prevent taxes? No, how to prevent how to prevent this rush, right? How to prevent the rush? I mean, hey, we can get rid of taxes. I'll keep that comment. I was gonna let fly to myself. But Tim, open it up with I mean, run it where you wish.
Yeah, I mean, really, At the end of the day, you got to get your tax return done, right?
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Chapters
4 chapters
1
Why are builders rushing to close books only at tax season?
0:00–1:33
2
Who is Tim Savre and what experience does he bring to construction finance?
1:33–6:03
3
What common bookkeeping problems cause year-end transaction backlogs?
6:03–24:02
4
How does missing job‑cost coding on receipts hurt cost‑plus builders?
24:02–39:19
Speakers
3 identifiedMore from Builders, Budgets, and Beers
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