Operating Expenses Irmo SC

As we approach the end of this year it is a good time to begin development of your budget for next year. In developing your budget, take time to challenge your operating expenses in Irmo.
Bank of America - Harbison
803.765.8995
301 Harbison Blvd
Columbia, SC
Wells Fargo - Seven Oaks
803-750-7811
6119 Saint Andrews Rd
Columbia, SC
Bank of America - Murray Landing
803.781.6472
104 Regency Drive
Columbia, SC
Bank of America - St Andrews - Columbia
803.765.4720
4300 St Andrews Road
Columbia, SC
Wells Fargo - Chapin
803-345-2231
168 Columbia Ave
Chapin, SC
Wells Fargo - Columbiana Centre
803-749-3900
331 Harbison Blvd
Columbia, SC
Wells Fargo - Harbison Boulevard
803-732-6203
165 Columbiana Dr
Columbia, SC
Bank of America - Dutch Square
803.765.4730
330 Bush River Road
Columbia, SC
Wells Fargo - Dutch Square
803-750-7804
101 Dutch Square Blvd
Columbia, SC
Wells Fargo - Gateway
803-788-1110
8800 Farrow Rd
Columbia, SC

Operating Expenses

Source: CUSTOM HOME Magazine
Publication date: November 1, 2005

By Steve Maltzman, CPA

As we approach the end of this year it is a good time to begin development of your budget for next year. In developing your budget, take time to challenge your operating expenses.

I recommend breaking your operating expenses into four major categories: indirect costs, sales and marketing, finance, and general and administrative expenses. Following are some tips on controlling these expenses:

Indirect construction costs. Indirect costs represent those costs related to construction that cannot be specifically identified with a particular job. Items within the indirect cost category include wages and benefits of your superintendents, estimator, designer, purchasing manager, and laborers, as well as costs of operating construction vehicles, warranties, and small tools purchases.

  • Challenge the use of your laborer. Many custom builders will have a laborer on their jobs performing tasks such as cleanup. Is your laborer doing work for your sub?
  • Consider implementing an inventive compensation program for your superintendent and other field personnel that is tied to productivity. Especially when times are tight you are better off having employees with low base salaries earn additional pay by achieving and exceeding goals and objectives. Make sure the incentive plan you implement is measurable and the activities measured by the plan are under the control of the employee.

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