General Contractor Bid Template 1996-2024 Form
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FAQs bid sheet
How do you fill out a W2 tax form if I'm an independent contractor?Thanks for asking.If you are asking how to report your income as an independent contractor, then you do not fill out a W-2. You will report your income on your federal tax return on Schedule C which will have on which you list all of your non-employee income and associated expenses. The resulting net income, transferred to Schedule A is what you will pay self-employment and federal income tax on. If this too confusing, either get some good tax reporting software or get a tax professional to help you with it.If you are asking how to fill out a W-2 for someone that worked for you, either get some good tax reporting software or get a tax professional to help you with it.This is not tax advice, it is only my opinion on how to answer this question.
If I am living in UK with T2 General visa and work as a contractor for a US company with W-8BEN form filled out, do I still need to pay income tax to the UK government?Yes.Every country in the world taxes people who live there. The US (which claims global jurisdiction over its citizens) taxes you because you are a citizen, the UK (which accepts that its jurisdiction stops at its own border, like every other country except the US) taxes you because you are present and earning money.But you don’t pay tax twice.The UK gets the first bite of the cherry - you’re living there, so you should pay towards public services. If you’re resident, you are taxed like the British taxpayers alongside whom you work, except if you have US investment or rental income that you don’t transfer or remit to the UK, special rules for ‘non-domiciled’ visitors may mean there’s no UK tax on this non-UK income (this is a complex area - take proper advice).You then report all your income to Uncle Sam too. The IRS lets you exclude a certain amount of foreign earned income for US tax purposes (up to $103,900 for 2018). If, even with the exclusion, you still owe US income taxes on your UK compensation, you should be able to claim a credit for UK taxes paid that reduces your US tax liability.Again, this is a complex area - take proper advice.It’s actually even more complex, because social security taxes operate under different rules. You should pay in only the UK or the US, but which country’s rules apply depends on the exact circumstances and how they fit with the US-UK bilateral social security treaty.Take advice (I hope that is clear by now!).
Do military members have to pay any fee for leave or fiancee forms?NOOOOOOO. You are talking to a military romance scammer. I received an email from the US Army that directly answers your question that is pasted below please keep reading.I believe you are the victim of a military Romance Scam whereas the person you are talking to is a foreign national posing as an American Soldier claiming to be stationed overseas on a peacekeeping mission. That's the key to the scam they always claim to be on a peacekeeping mission.Part of their scam is saying that they have no access to their money that their mission is highly dangerous.If your boyfriend girlfriend/future husband/wife is asking you to do the following or has exhibited this behavior, it is a most likely a scam:Moves to private messaging site immediately after meeting you on Facebook or SnapChat or Instagram or some dating or social media site. Often times they delete the site you met them on right after they asked you to move to a more private messaging siteProfesses love to you very quickly & seems to quote poems and song lyrics along with using their own sort of broken language, as they profess their love and devotion quickly. They also showed concern for your health and love for your family.Promises marriage as soon as he/she gets to state for leave that they asked you to pay for.They Requests money (wire transfers) and Amazon, iTune ,Verizon, etc gift cards, for medicine, religious practices, and leaves to come home, internet access, complete job assignments, help sick friend, get him out of trouble, or anything that sounds fishy.The military does provide all the soldier needs including food medical Care and transportation for leave. Trust me, I lived it, you are probably being scammed. I am just trying to show you examples that you are most likely being connned.Below is an email response I received after I sent an inquiry to the US government when I discovered I was scammed. I received this wonderful response back with lots of useful links on how to find and report your scammer. And how to learn more about Romance Scams.Right now you can also copy the picture he gave you and do a google image search and you will hopefully see the pictures of the real person he is impersonating. this doesn't always work and take some digging. if you find the real person you can direct message them and alert them that their image is being used for scamming.Good Luck to you and I'm sorry this may be happening to you. please continue reading the government response I received below it's very informative. You have contacted an email that is monitored by the U.S. Army Criminal Investigation Command. Unfortunately, this is a common concern. We assure you there is never any reason to send money to anyone claiming to be a Soldier online. If you have only spoken with this person online, it is likely they are not a U.S. Soldier at all. If this is a suspected imposter social media profile, we urge you to report it to that platform as soon as possible. Please continue reading for more resources and answers to other frequently asked questions: How to report an imposter Facebook profile: Caution-https://www.facebook.com/help/16... < Caution-https://www.facebook.com/help/16... > Answers to frequently asked questions: - Soldiers and their loved ones are not charged money so that the Soldier can go on leave. - Soldiers are not charged money for secure communications or leave. - Soldiers do not need permission to get married. - Soldiers emails are in this format: email@example.com < Caution-mailto: firstname.lastname@example.org > anything ending in .us or .com is not an official email account. - Soldiers have medical insurance, which pays for their medical costs when treated at civilian health care facilities worldwide – family and friends do not need to pay their medical expenses. - Military aircraft are not used to transport Privately Owned Vehicles. - Army financial offices are not used to help Soldiers buy or sell items of any kind. - Soldiers deployed to Combat Zones do not need to solicit money from the public to feed or house themselves or their troops. - Deployed Soldiers do not find large unclaimed sums of money and need your help to get that money out of the country. Anyone who tells you one of the above-listed conditions/circumstances is true is likely posing as a Soldier and trying to steal money from you. We would urge you to immediately cease all contact with this individual. For more information on avoiding online scams and to report this crime, please see the following sites and articles: This article may help clarify some of the tricks social media scammers try to use to take advantage of people: Caution-https://www.army.mil/article/61432/< Caution-https://www.army.mil/article/61432/> CID advises vigilance against 'romance scams,' scammers impersonating Soldiers Caution-https://www.army.mil/article/180749 < Caution-https://www.army.mil/article/180749 > FBI Internet Crime Complaint Center: Caution-http://www.ic3.gov/default.aspx< Caution-http://www.ic3.gov/default.aspx> U.S. Army investigators warn public against romance scams: Caution-https://www.army.mil/article/130...< Caution-https://www.army.mil/article/130...> DOD warns troops, families to be cybercrime smart -Caution-http://www.army.mil/article/1450...< Caution-http://www.army.mil/article/1450...> Use caution with social networking Caution-https://www.army.mil/article/146...< Caution-https://www.army.mil/article/146...> Please see our frequently asked questions section under scams and legal issues. Caution-http://www.army.mil/faq/ < Caution-http://www.army.mil/faq/ > or visit Caution-http://www.cid.army.mil/ < Caution-http://www.cid.army.mil/ >. The challenge with most scams is determining if an individual is a legitimate member of the US Army. Based on the Privacy Act of 1974, we cannot provide this information. If concerned about a scam you may contact the Better Business Bureau (if it involves a solicitation for money), or local law enforcement. If you're involved in a Facebook or dating site scam, you are free to contact us direct; (571) 305-4056. If you have a social security number, you can find information about Soldiers online at Caution-https://www.dmdc.osd.mil/appj/sc... < Caution-https://www.dmdc.osd.mil/appj/sc... > . While this is a free search, it does not help you locate a retiree, but it can tell you if the Soldier is active duty or not. If more information is needed such as current duty station or location, you can contact the Commander Soldier's Records Data Center (SRDC) by phone or mail and they will help you locate individuals on active duty only, not retirees. There is a fee of $3.50 for businesses to use this service. The check or money order must be made out to the U.S. Treasury. It is not refundable. The address is: Commander Soldier's Records Data Center (SRDC) 8899 East 56th Street Indianapolis, IN 46249-5301 Phone: 1-866-771-6357 In addition, it is not possible to remove social networking site profiles without legitimate proof of identity theft or a scam. If you suspect fraud on this site, take a screenshot of any advances for money or impersonations and report the account on the social networking platform immediately. Please submit all information you have on this incident to Caution-www.ic3.gov < Caution-http://www.ic3.gov > (FBI website, Internet Criminal Complaint Center), immediately stop contact with the scammer (you are potentially providing them more information which can be used to scam you), and learn how to protect yourself against these scams at Caution-http://www.ftc.gov < Caution-http://www.ftc.gov > (Federal Trade Commission's website)
How do general contractors find the new and upcoming projects to bid on, besides referrals or looking in the newspaper? What is the percentage markup range? Does the general contractor put on each subcontractor's bid to make a profit?Almost all large commercial projects are listed by area in the Dodge Report. It costs (or did at the last time I checked) $39.00 per month.As far as markups are concerned, every GC has their own formula. Some GC’s do not mark-up any of the sub’s bids, but pare down the numbers to the lowest level possible and then add a percentage to the grand total. In fact, this is the way most large contracts are done. A lot of major projects are done for as little as 2 or 3 percent profit. If a GC marked up every individual subcontract by a set percentage that GC would never get a job. There are other ways to add to the bottom line that are way more subtle than loading up on a subcontract.For instance, say you have a 12 M project and your onsite supervision (per your bid submittal) consists of a superintendent, an assistant super or two, a PM, assistant PM, and a project engineer. Each of those is a hard cost and has a set salary. In reality you are paying each position actually working on the project 25–30 percent less than their line item salary as shown in the bid, and the project in reality has only a superintendent and a PM. An actual assistant superintendent might be on the payroll or that position might be filled on-site by a trusted laborer bucking for a raise in status and pay. It is real easy to hide several hundred thousand dollars in supervision and management line items that are never used. The same can be said for contingency line items. Anyway, if you are looking for huge profits with wide latitude on schedule and cost overruns, you had better have a daddy or father-in-law in a congressional body somewhere.When I was a GC building high end custom homes I remained competitive by having my bidding process completely open to the client. We went over the total and massaged it line item by line item to where the client was comfortable and then I added my fee. I never marked up any sub contractor’s number.Profit is better managed by having a stable of excellent subs that know what they are doing and can do it without much oversight. Let each sub make money on your job and you will never lose them and when ‘crunch time’ comes, as it always does, that sub will be on your job and not some other GC’s job.Thanks for the A2A Cody Bollerman. Hope this helps.
How can I apply for Google DoubleClick Bid Manager, besides filling out the form?We're a certified DBM reseller and can help you if you'd like.
As one of the cofounders of a multi-member LLC taxed as a partnership, how do I pay myself for work I am doing as a contractor for the company? What forms do I need to fill out?First, the LLC operates as tax partnership (“TP”) as the default tax status if no election has been made as noted in Treasury Regulation Section 301.7701-3(b)(i). For legal purposes, we have a LLC. For tax purposes we have a tax partnership. Since we are discussing a tax issue here, we will discuss the issue from the perspective of a TP.A partner cannot under any circumstances be an employee of the TP as Revenue Ruling 69-184 dictated such. And, the 2016 preamble to Temporary Treasury Regulation Section 301.7701-2T notes the Treasury still supports this revenue ruling.Though a partner can engage in a transaction with the TP in a non partner capacity (Section 707a(a)).A partner receiving a 707(a) payment from the partnership receives the payment as any stranger receives a payment from the TP for services rendered. This partner gets treated for this transaction as if he/she were not a member of the TP (Treasury Regulation Section 1.707-1(a).As an example, a partner owns and operates a law firm specializing in contract law. The TP requires advice on terms and creation for new contracts the TP uses in its business with clients. This partner provides a bid for this unique job and the TP accepts it. Here, the partner bills the TP as it would any other client, and the partner reports the income from the TP client job as he/she would for any other client. The TP records the job as an expense and pays the partner as it would any other vendor. Here, I am assuming the law contract job represents an expense versus a capital item. Of course, the partner may have a law corporation though the same principle applies.Further, a TP can make fixed payments to a partner for services or capital — called guaranteed payments as noted in subsection (c).A 707(c) guaranteed payment shows up in the membership agreement drawn up by the business attorney. This payment provides a service partner with a guaranteed payment regardless of the TP’s income for the year as noted in Treasury Regulation Section 1.707-1(c).As an example, the TP operates an exclusive restaurant. Several partners contribute capital for the venture. The TP’s key service partner is the chef for the restaurant. And, the whole restaurant concept centers on this chef’s experience and creativity. The TP’s operating agreement provides the chef receives a certain % profit interest but as a minimum receives yearly a fixed $X guaranteed payment regardless of TP’s income level. In the first year of operations the TP has low profits as expected. The chef receives the guaranteed $X payment as provided in the membership agreement.The TP allocates the guaranteed payment to the capital interest partners on their TP k-1s as business expense. And, the TP includes the full $X guaranteed payment as income on the chef’s K-1. Here, the membership agreement demonstrates the chef only shares in profits not losses. So, the TP only allocates the guaranteed expense to those partners responsible for making up losses (the capital partners) as noted in Treasury Regulation Section 707-1(c) Example 3. The chef gets no allocation for the guaranteed expense as he/she does not participate in losses.If we change the situation slightly, we may change the tax results. If the membership agreement says the chef shares in losses, we then allocate a portion of the guaranteed expense back to the chef following the above treasury regulation.As a final note, a TP return requires knowledge of primary tax law if the TP desires filing a completed an accurate partnership tax return.I have completed the above tax analysis based on primary partnership tax law. If the situation changes in any manner, the tax outcome may change considerably. www.rst.tax
If you pay a contractor (in the US) do you need to fill out tax forms? Is it different if I am in the US paying contractors outside the US?If you are paying contractors in the U.S. in connection with a trade or business, and you pay any one of them in aggregate in excess of $600, you are required to prepare a 1099 form. In aggregate means that if you paid someone $ 400, and then later paid them $ 201, you’d be liable to prepare the 1099.If you pay persons that are not in the U.S., then your only requirement is to ascertain that they are not U.S. citizens or U.S. permanent residents. If either of those situations apply, then the $ 600 rule applies.
How does the bidding process work from general contractors to subcontracrors?There are various ways this works. The most common being sending out a request for bids to your short list of qualified sub-contractors. Drawings and specs. are given to them, they often have suppliers work up part or all of the materials portion of the bid while they work on the labor and other costs. When I accept a bid, I use my own agreement, not theirs, but do attach their agreement to mine, however, mine takes precedent. There are so many absurd risks in some sub-contractors agreements I don’t even consider using any of them as a policy. If they can’t live with that, we simply part company.I have developed an unusual approach which works wonderfully for me but would not work well for everybody. I put out no requests for bids, except in unusual situations. I have a very short list of sub-contractors I work with and do almost everything on a time plus material approach. I also buy all the materials except expendables that the sub is expected to furnish. This approach does require an element of trust, but I do supervise fairly closely, and I do require the sub allows me latitude to direct their employees in matters of construction methods. A few of the many advantages are1. the sub doesn’t need to bloat a bid to cover for unknowns. 2. Since I buy materials, there is no markup as in sub supplied materials, I get absolute control of material quality and I get to return or stockpile all the overage. 3. I do major renovations to multi-family housing, and have been able to navigate the tricky waters of doing the work while the units remain occupied. Being on site and being with the workers allows me watch things closely to maintain the best relationships with tenants and on-site management possible. We go the extra mile and it’s generally well respected (with notable exceptions).The sub-contractor loves this. He/she is guaranteed to make a profit from their hourly markup. They should, but don’t need to ever set foot on the job. The employees report to me and I direct their work and instruct on the particulars of installations. I keep track of all hours worked. I handle all the hassles that come up. Since I pay for materials, they are freed up on their suppliers credit lines. Otherwise my bigger jobs can eat up a credit line in a heartbeat. In short, everybody’s happy, and these subs always give me first consideration.
Which GST form should I fill out for filing a return as a building work contractor?You need to file GSTR 3b and GSTR 1 ,if it government contract make sure to claim INPUT for TDS deducted amount.
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People also ask general contractor bid sheet
What is bid document preparation?Documents required to be submitted in response to an invitation to bid (ITB). These include the prescribed bid form, drawings, specifications, time lines, charts, price breakdowns, etc. ... Also called bidding documents.
What is tender construction?\u201cA contract or tender document in construction industry is an agreement between two parties which they intend to be legally binding with respect to the obligations of each party to the other and their liabilities.\u201d Government puts tender on their website. Regarding the.
What is tender in civil construction?\u201cA contract or tender document in construction industry is an agreement between two parties which they intend to be legally binding with respect to the obligations of each party to the other and their liabilities.\u201d Government puts tender on their website. Regarding the.
What is meant by tender drawing?A tender is a submission made by a contractor in response to an invitation to tender. It makes an offer for the supply of goods or services. Tender documents are prepared to seek offers (offers).
What does a tender document consist of?A cover letter, an invitation to tender, the form of the tender, the terms and conditions of the contract, a bill of quantities, the specifications, designs/drawings, plans, and the quality requirements, the evaluation criteria and the tender return label.