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

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.