Showing my wholesale cost for Stimulus Tax Credit - Contractor Talk - Professional Construction and Remodeling Forum

WoodPeckerwood · 10-16-2009, 12:07 PM

As part of a remodel I have a HO interested in some Marvin Integrity windows that I quoted with the LoE argon glass to qualify for them for the tax credit program. The HO submits the paperwork (that's nice) but it appears from IRS and other gov. sites that in addition to Marvin's certification/stickers for the window specs they need me to break out my wholesale cost for the windows apart from my profit and from my installation charges.

from EnergyStar.gov
"Qualifying products purchased between January 1, 2009 and December 31, 2010 are eligible for a tax credit equal to 30 percent of the product cost. Installation is not included; be sure to obtain an itemized invoice from your retailer or installer..."

Are you guys/gals doing this on your invoices?? I don't itemize my project bids and I really don't like giving out my cost vs. sell price for a project component to anybody!

Am I right in reading that the number that they can claim is the cost that I pay for the window? Or can I put a cost of the window on the invoice they get that has my profit included (just no installation labor).

thanks,

Steve

Grumpy · 10-16-2009, 12:15 PM

On my invoices for windows I will take the total cost and divide by half or what I paid, which ever is higher. The customer is paying ME for the windows, they are not paying my supplier. Therefore I deserve a markup and so forth for the transaction. Yes I happen to be a middle man when it comes to supplying materials but they are still paying what ever ammount I think is fair.

This actually will work in the customer's ffavor. It's like on shingle manufacturer waranty's when they ask for labor and material costs. I do the same thing. Take the total price and divide by half. I don't even give it any real though, it's not worth the time. And again, legally they are buying the materials from me not my supplier, and it's logical I would charge a markup.

buddy110 · 10-16-2009, 08:20 PM

I agree with Grumpy. We give a marked up itemization

WoodPeckerwood · 10-17-2009, 02:36 AM

thanks. That route makes sense to me. Customer wins too with a larger credit.

steve

mrmike · 10-17-2009, 05:21 AM

I too am with Grumpy- I itemize my invoice with the price of the window with my mark-up, etc for time & gas to get them. The only thing that I have gotten from the window Co is an Energy Star Tax Credit certificate with the customers Name & Address. They don't have prices on them. So the customer will benifit from the mark up on my invoice..................

HomeSealed · 10-23-2009, 12:14 PM

I give the customer the list price (retail price) of the windows. Takes all the guesswork and math out of the equation and they usually get more toward the credit that way anyway. Plus, if the IRS ever would question the numbers, all I need to do is show them my manufacturer's price book.