A Solid Pact


Every home renovation contract should include
Contractor information such as name, address, phone numbers and license number.
A list of what exactly will and will not be done.
All materials, sizes, colors and other specifications.
A dated copy of all drawings and diagrams. Changes to such documents should be initialed and dated by all parties.
Start and finish dates.
Times work will commence and end each day.
How change orders will be handled.
A one-year warranty.
A binding arbitration clause.
A statement about how the contract can be canceled.
A statement that the contractor will provide affidavits of final release, final payment or final lien waivers from all subcontractors and suppliers.
Proof the contractor checked with local building codes.

Source: Adapted from Remodel or Move? Make the Right Decision by Dan Fritschen, ABCD Publishing LLC, 2005.

SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.