Legal Question in Civil Rights Law in Texas
Subcontractor
We were hired to do a construction job and we then hire subcontractors to help. Is the amount of money paid to the subcontractors profit? thank you
Asked on 10/17/02, 8:47 am
1 Answer from Attorneys
Charles Aspinwall
Charles S. Aspinwall, J.D., LLC
Re: Subcontractor
Money paid a subcontractor is an expense to the general contractor, deductible as such from the gross receipts from that particular job for income tax purposes. Subcontractor expense is treated no differently from other expenses such as insurance, supplies, etc. It is profit to the sub, but not to the general.
Answered on 10/22/02, 12:43 pm
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