Jason RoTramel wrote:Interesting stuff, and a well informed compilation.
Lets say two farriers (both skilled tradesmen working to help one another) work out all the details for one to be a subcontractor. How would you work out the pay.
I am looking at a couple of big barns out of state, most of the tools are on site, I will be purchasing and managing the supplies needed to do the work.
One barn I would need to drive my rig out, supply the inventory and my buddy would meet me there.
Any thoughts on how to split the spoils?
A friend of mine and I work together quite a bit. In some cases, it's at barns where we both have clients. We work together, I bill for mine and he bills for his. He's had some injuries and time off in the last few years so, at one time or another, I've billed many of his clients. At the same time, much of my work was his at one time. The only thing I'm getting at here is that we can just split the billing how we see fit and most clients wouldn't think anything of getting the bill from "the other guy".
I also work
with him on one large account that he took back after his last lay-off. I drive to his place, throw my box and a few things in his truck and he drives from there. Since it's his account, his materials and he does the driving, we split accordingly. He bills the client and files, and copies me with, a 1099.
As far as I can tell, it meets the IRS requirements of a subcontractor, though, maybe I should be invoicing him for the work I do?
In any case, the taxes are paid. He doesn't pay WC on me but nobody pays it for me the rest of the week either.
In case none of you has noticed, our government is sucking up all the productivity. They profit more from our labvor than we do just as they make more on a gallon of gas than the oil companies.
Just take comfort in the fact that Obama's wife and kids really enjoy the European tours on AF2 that we finance for them.