Question For Florida Contractors

baytobay

Hello Group-

My name is James and I recently opened a general contractor company. I am an S-Corp with (2) 50% owners, GC license, liability insurance. My problem is workman’s comp. I just opened my company in October and I have had a few jobs here and there, but nothing steady as of yet. I am doing what I do best and that is networking to get known in the area and getting contacts with business, suppliers, and others in related fields. I had a leasing company for my workman’s comp (Southeast) which does workman comp and payroll. My problem is they want me to report my hours each week, but I am doing more networking then I am doing actual work, I have several good leads and many jobs lined up with old contact I had prior to retiring from the Military. I have vender packages out and I am trying to do everything as I should.

I am doing all the work myself/Partner till we get more steady work. I will obviously sub out electrical and plumbing work to licensed/insured contractors. I can’t get anyone to cover me (Workman’s Comp) unless I am being leased. If I don’t run a payroll (They take 18% for the workman’s comp, but I am not actually working. I want to stay current, but it’s costing me a small fortune. What can I do as a small just getting started company? I wish I could report my work on a monthly basis for the first year. Not sure what I can do, please anyone have any real advice

thanks

MHMConstruction

are you talking about W/C for yourself? for you and your partner, or for employees?

if you're a one-man show, you can go W/C Exempt and not worry about it

need more info...

tburritt

Anyone that ownes 10% of more stock in a company can be listed WC exempt just cost the $50 for the cert paper. and file at courthouse. I had a policy myself it was too expensive so I went to a leasing company on the weekly pay deal but now that its a little slower I have gone to Exempt again to save money but stay legal, but if you have employees that are not stock holders you will need a policy for them.

__________________
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Diesel65

You can legally exempt 3 officers in a Florida corp, I would suggest you go that route until you need to hire employees, you can then still be exempt and the comp policy will just be for them. With the high cost of health insurance I could not see paying that for myself and family and paying comp also.

Your insurance agent should be able to help you with these types of questions, if not just visit myflorida.com for the information you need.

Link = http://www.myfloridacfo.com/WC/forms.html#6 Form DWC 250

baytobay

Ok, thanks. Now my question is we are a 2 man show (For now) and we will both be doing the actual work...can we still both file as exempt? Will this affect my ability to hire sub contractors? Any info is greatly appreciated. I worked in construction management for the AF for 20 years, but this side of the fence is quite different. I also have commericial insurance on our truck, basically I am doing all this to be able to produce vender packages to large companies such as Home depot.

In my opion the W/C is good for only the state and insurance companies.

shorty t

what is the average quotes per contruction clean-ups, i know you have at least 3 cleanings per 1 job, i live in florida, do you charge sq ft or hourly

shorty t

i currently clean restaurant. but i would like to expand to the higher paying gigs

misscontractor

Hello, i read that you are doing a lot of networking? can you advise on things that you are doing? i am in the Miami area.