Why You Should Use Subcontractors On Your Classic Car

When making a decision to perform restoration on a car, many hobbyists ask themselves whether they should do all of the restoration and repair work themselves or whether they should farm it out to subcontractors. The benefits of restoring a vehicle by yourself is attractive for many reasons. From a financial standpoint, you will save a lot of money by doing the work yourself. Ego enters into the decision also. You will be able to point with pride to your restored auto and take the entire credit for rebuilding it. Doing the work yourself also lets you do the work exactly the way you want it done. You know that you won't be taking any shortcuts to get the work done and can be assured that the work quality will be of the highest caliber.

But, realistically, the great majority of us do not possess all of the skills necessary to perform each restoration task that may be required on a restoration job. How many of us can perform with expert skill the upholstery, welding, painting, or mechanical work that needs to be done? At some point most restorations will require an expert's touch that is beyond your level of expertise.

So what do you do? What most amateur restorers do, more than will admit, is to outsource some of the more specialty work to a subcontractor. And if you do it correctly, it's an investment and tradeoff well worth making.

There are certain guidelines you should use in selecting a subcontractor if you want to get the best work possible from them.

If at all possible, avoid hiring a subcontractor out of his area of expertise. If you need an expert on 1940 Ford engines, don't hire a general mechanic who dabbles in engines. Instead, look for a subcontractor that is an expert in working with Ford engines from that general era. Can't find one? Then look for a subcontractor in Ford engines overall. The bottom line is try to find a subcontractor who is used to working with components on the specific classic car that you own.

If you have not previously worked with a subcontractor, you will want to see actual examples of his work. Photographic can be doctored and are therefore not reliable. If you're not satisfied with the quality, continue your search.

Get 5 or more references from satisfied customers. Call them and talk to them. Ask about the timeliness and quality of the work they received and any other concerns that you may have.

Once you find and decide upon a subcontractor, ask him for a written detailed work, price, and time estimate of the work that you are asking to be done. If he is not willing to give you a "written" estimate, you should probably pass on having him do the work.

Be sure to ask about warranties on their work. You may or may not be able to get a warranty on parts. But a confident subcontractor will have no problem guaranteeing his level of work.

Don't look at subcontractors as a necessary evil. Instead look at them as partners. Subcontractors can be a great asset to you and potentially save you loads of time. And in many cases the use of subcontractors may be the only way you can get your auto restoration finished.

Carl Phllips writes car restorations articles such as classic car pricing and classic car value. Please visit his site for additional contributions.

It's That Time of Year Again!

And no I am not referring to holiday cheer, parties, gifts and the like. And not even ringing in the New Year with its associated celebrations and resolutions. But, as all you bookkeepers and accountants are aware, year end for most companies is right around the corner.

One of the first issues to be deal with no matter the timing of your fiscal year end is all those pesky payroll chores. W2's to be prepared, proved and mailed. And let's not forget our favorite year end chore - preparation of 1099's. If you have been keeping on top of things through out the year, then these processes should not be too onerous.

One thing you should know if you are not using a payroll service, but preparing your W2's in house is that on the W2 form Box 12 has new two codes this year. Code AA is for Roth Contributions to a 401k plan. And Code BB is to be used for Roth Contributions to a 403 (b) plan.

And don't forget to report fringe benefits such as cash which includes bonus, severance, vacation or sick pay, and non-cash gifts. These might include concert or sporting event tickets, meals, gift certificates or cards. Remember these benefits are subject to Income, FICA and FUTA taxes. Check with your accountant for the laws in your state as well. You do not need to report employee discounts, working condition fringes or use of employer owned or leased athletic facilities or what are termed as de minimus fringes (you know that free turkey the company gave to everyone). If you have any situation that might be unusual or that you don't know whether it should fall into the reportable fringe benefit category, then do check with your accountant.

This is also a good time to have your employees review their withholding requirements and to supply W4 forms to them should they need to make changes.

By now you should have reviewed your vendor list and made sure that all subcontractors are marked to receive 1099's. Your software program should be set to print a 1099 for each marked vendor that has earned $600 or more during the calendar year. You also should have already checked that you have entered the correct addresses and EIN's for each company/person receiving a 1099. Make sure you verify with the company that the name registered with the IRS for the EIN you have in your files is the same name you will be issuing the 1099 to. For example, if you have been making checks out to John Smith he might have an EIN in his dba (doing business as) name. Or maybe you have been issuing checks to the dba and he is using his personal social security number as his EIN in which case his 1099 must be issued in his name. It is very important to use the matching name and EIN number when issuing 1099's. Otherwise you will be receiving a letter from the IRS requesting you to verify the information and even perhaps asked to withhold backup taxes from your vendor to be submitted to the IRS. Having each vendor make out and sign a W9 form when they begin doing business with you and also at the beginning of each new year will help insure you have the right information. You can get these forms at any IRS office or online at http://www.IRS.gov. They do not have to be submitted to the IRS as they are for your records only.

The filing dates for W2's is February 28th however you are required to have mailed the forms to your employee no later than January 31, 2007. These dates are also in effect for filing of 1099's.

So enjoy your holidays while they are here, for come January 2nd you will be quite busy.

You will be quite busy.

Copyright all rights reserved D. L. MacMillan

Donna MacMillan, Advanced Certified QuickBooks consultant and president/founder of D. L. MacMillan & Associates offers a unique set of services covering all aspects of successful business growth and financial health for all business types and sizes. Offering comprehensive, confidential, and professional services, D. L. MacMillan & Associates can analyze, design or redesign your current systems to maximize productivity, cash flow and solidify your bottom line.

A well set up and maintained financial management system is the cornerstone of any business. Without well organized financial records and the ability to review your data in meaningful reports a company cannot be at its best.

Take your business to the next level with the training and answers you need when you need them. Private and confidential. Over 30 years experience helping businesses grow through better financial management.

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Designing and Managing the Supply Chain, 3/e provides state-of-the-art models, concepts, and solution methods that are important for the design, control, operation, and management of supply chain systems. In particular, the authors attempt to convey the intuition behind many key supply chain concepts and to provide simple techniques that can be used to analyze various aspects of the supply chain. Topical coverage reflects the authorsa€? desire to introduce students to those aspects of supply chain management that are critical to the success of a business. Although many essential supply chain management issues are interrelated, the authors strive to make each chapter as self-contained as possible, so that the reader can refer directly to chapters covering topics of interest. Each chapter utilizes numerous case studies and examples, and mathematical and technical sections can be skipped without loss of continuity. The 3rd edition represents a substantial revision. While the structure and philosophy were kept intact, the authors placed an increasing importance on finding or developing effective frameworks that illustrate many important supply chain issues. At the same time, motivated by new developments in industry, they added material on a variety of topics new to the book while increasing the coverage of others.

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How to Assure Quality Imports From China - Part One - Inspecting Subcontractor Factories

As you visit each of your factory's various departments, you may learn a portion of the production is subcontracted to other factories. Unless special circumstances apply, the subcontractors are usually near by.

The factories find this to be a sensitive issue and may be reluctant to disclose it.

They may try pretending the other factory belongs to them and is an extension of the production of the factory you are in. There is probably nothing further from the truth. Often, relatives of your factory's owner run the other factories and they doing each other favors. It is very common in China.

The problem you are looking to uncover is if the subcontractor has a totally different quality standard (if they have one at all). That means whatever quality assurance the factory has given to you may be contradicted or jeopardized through their cooperation with subcontractors.

The main reasons factories use subcontractors are:

To save money by squeezing the subcontractor to accept lower prices than they are capable of achieving themselves
To overcome a temporary production capacity shortage
To do a favor for a friend or relative that does not have enough orders to run their factory efficiently
Cover-up labor rights violations
Access to production equipment such as injection machines, spray-painting, and mold shops that they do not have

The problem is you have no idea how well or poorly the subcontractor's factory is managed without visiting. Your factory might not make this visit easy but you should insist.

Possibly your factory has several subcontractors. The more subcontractors, the more risk you will be taking that some of them have quality problems. This is a very good reason to insist on visiting them.

You cannot simply go wandering into the subcontractor's factory. You are going to need cooperation from your factory. Most likely one of the staff will accompany you and your visit will probably be limited to the area of the subcontractor's factory that is performing work for your factory.

Be sure to apply the same stringent quality and performance requirements as you did to your own factory. It is the only way you can protect your own business interests and to assure the quality of your imports from China.

Klaus-Dieter Hanke is a professional exporter/importer for more than 2 decades. He is the author of a successful eight ebook series "Importing from China".
His company WebMediaBiz provides consultancy services to worldwide importers.
Claim his free eBook "7 Tips to more Successfully Import from China" from his website ==> http://www.webmediabiz.com now.

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Home Building - What Every Smart Home Owner Builder Must Know About Subcontractors

When building or remodeling, you need professional help. Rarely does an Owner Builder go it alone. The subcontractor could be the single most indispensable building professional for the homeowner builder.

What is a Subcontractor?

Subcontractors are not builders. They are trades people. They specialize in their craft. They do not manage your entire project nor should they be counted upon to coordinate their efforts with other subcontractors. Whether a plumber, framer, electrician, excavator, roofer, carpenter or other trade, a subcontractor simply provides his unique service.

When you build or remodel, you use whichever tradespersons you need to complete the task at hand. These professionals must be evaluated, hired, and managed throughout the building or remodeling process.

When evaluating your potential hire, consider and determine the following:

They should be licensed and bonded/insured
Experienced in your market and knowledgeable about local codes
Have references that you can easily verify
You must get at least three competing bids for each trade
You should evaluate the quality of building materials they use
Inquire about their availability and time for your project

Homeowner builders can elect to provide some of their own labor to reduce the overall cost of labor or they can hire these subs for every aspect of the job. Either way, someone has to manage and coordinate their efforts.

Managing Your Subcontractors

In a traditional building environment, the General Contractor (GC) hires and supervises the work of the subcontractors. A GC can also be referred to as a builder. You, as an Owner Builder, may or may not be using a GC to help you. If you have not hired a GC for your project, you will be in charge. This can present a challenge to the average owner builder.

One of the bigger challenges you, as an owner builder may face, is the reluctance of a subcontractor to work directly for you. They worry about your ability to pay them, coordinate the efforts of all the trades, evaluate their work, and keep the project going.

These are legitimate concerns and you, as an owner builder should prepare properly to dispel these concerns. I typically advise you to utilize one of the following suggestions:

Hire a GC to be your Construction Manager
Implement a good building Process Management software program
Retain an experienced home building coach

Most of my clients have utilized the second and third suggestions combined. A good home building coach with a proven process management system provides an excellent and low cost solution.

Successful Home Owner Builders

A smart homeowner and home builder will always use talented professionals where it makes most sense. Regardless of the time and experience you may have, subcontractors will likely play a big role in your success.

Take the time to analyze them carefully and always get all agreements in writing.

You can learn so much more about home building and remodeling online. One great option is to take advantage of a very informative yet simple to follow *free* e-course that you can find by clicking here http://www.DreamHomeCreation.com You will also find other tips and tools, surveys, videos, and additional articles by Mel Inglima.