Usually roof trusses are used for spans as short as 25' - 0" all the up to 200' -0" Usually wood roof trusses will span the shorter dimension of the…
What is a Sinking Fund?
A sinking fund is an account where money is set aside to cover the cost of replacing equipment in the future.
What percentage of revenue do most contractors pay for overhead?
Answer: For smaller contractors overhead typically ranges from 6% to 15%. Larger contractors often have overhead as little as 1% or 2% of annual volume.
What is G & A costs?
G & A costs is General and Administrative costs and is oftern referred to as Office Overhead Expense. G & A costs include items such as advertising, rent, fuel, office…
What is the Fedral Unemployment Tax ACT (FUTA)?
The Fdera Unemployment Tax Act applies to the first $7000 of wages for each employee during the calendar year of 2013. The FUTA rate is 6% but there is a…
What act requires contractors to furnish a performance bond and a payment bond?
Answer: The Miller Act. Under the Miller Act, the federal government requires that a contractor furnish 2 separate bonds, on for the performance, and one for the payment of labor…
What are Closing Costs?
Once a loan is approved and accepted, there are charges known as closing costs. Closing costs consist of points, origination fees, or the discount, cover the cost of setting up…
Sources of Money for Construction Projects
Commercial Banks - short and intermediate term financingSavings and Loans - small residential loansInsurance Companies - restricted long term loansPension and Trust Funds - long term loans. These funds are…
How Much is the Retainage from the General Contractor to the Subcontractor?
The retainage from the general contractor to the subcontractors is usually between 5% and 10%. Usually the retainage isn't completely released until the project is significanly closer to completion. It…
How Much Work is Completed by Subcontractors for General Contractors?
How Much Work is Completed by Subcontractors for General Contractors? The amount of work performed by subcontractors for general contractors cannot be precisely determined, but the Association fo General Contractors…