by Guest » Tue Jun 29, 2010 12:30 pm
This is my question, we had some hail damage 2 months ago in Oklahoma City. Alot houses were hit and a lot roofs were repaired. My adjuster came and did an estimate of my damage and give me a check for $9.000, with $4.000 recoverable depreciation (which I dont have yet) roofers company did an estimate on my house and averadge around $13.000. My question are:
Once I get a check from my insurance company ( the extra $4.000),
CAn I negotiate with a roofer to de the job, let say, for $10.000, and pocket the extra $3.000?
2. Is there any tax issue for pocketing that money?
3. Is this legal?
Once I get a check from my insurance company ( the extra $4.000),
CAn I negotiate with a roofer to de the job, let say, for $10.000, and pocket the extra $3.000?
2. Is there any tax issue for pocketing that money?
3. Is this legal?
Posted: Tue Jun 29, 2010 01:38 pm Post Subject:
Yep, it's your money. And the way most contractors work in this economy, they or anyone else will most likely take that deal.
Posted: Tue Jun 29, 2010 10:19 pm Post Subject:
yep, you're good, only issue might come up is recovering your depreciation
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