Fixing it forward suggestion

[Robert]

On the next fixing it forward project it may be beneficial to provide the vehicle owner with a receipt of what was done to the car with labor hours and parts costs. This provides several benefits: 1. The owner has a record of the specific repairs, time, and mileage of when they were done, 2. The value of the work done is clearly stated for the owner and viewers, 3. The owner has a option of selling the car at a higher price with proof of the improvements made to the vehicle, 4. Since you are providing this service for charity ETCG has a clearly detailed tax write-off against youtube income. Everyone wins even more.

Topic

[David Lisle]

RCS1300,

As nice as it would be for us to see the recipe, I feel this could take away from the Fixing It forward series affect. No doubt the owner could be getting the recipe for work done, but we don’t really need to see it. From what I have seen the focus on the series is helping people out with their vehicle repairs that might seem difficult given economical or medical condition.

We all have or had vehicles that we wished we could have had fixed and there have been many shows in which everyday people have there cars fixed, such as Overhaulin’ in which they used custom parts on old rusting out vehicles. Fixing It Forward to me is more of showing us that restoring a vehicle is also an option for us. We don’t need to have a truck with a 6″ lift kit and 32″ wheels, we have have our vehicle run smoother on our own. This to me seems to be where all those repair videos that were made over the past year, are now reference video to work being done.

However showing someone get a recipe is not necessary to this show, the videos themselves document the work that was done and are proof that it was done effectively.

[Robert]

[quote=”dblisle” post=154996]RCS1300,

As nice as it would be for us to see the recipe, I feel this could take away from the Fixing It forward series affect. No doubt the owner could be getting the recipe for work done, but we don’t really need to see it. From what I have seen the focus on the series is helping people out with their vehicle repairs that might seem difficult given economical or medical condition.[/quote]

The two primary benefits of the receipt are tangible financial value – if the vehicle owner wants to sell the vehicle, the receipt adds value to the sale so the owner can get more money. Second, ETCG gets a tax benefit which will provide ETCG more funds to perform more repairs.

[EricTheCarGuy]

Thanks for the suggestion.

There would be no tax benefit as the parts are either donated by 3rd parties, or purchased with donated funds. Write offs come from things purchased for the business, not the labor put into them. However, I am looking to turn FiF into a 501.3.c in the coming year so that it exists separately from my ETCG business.

Also, transactional elements have been something I’ve purposely avoided since the beginning with my show for good reason. Labor rates and parts mark ups vary greatly from place to place. I never wanted to put myself in a position where I was dictating prices. That’s a can of worms I wish to avoid opening. I get enough hateful comments as it is. The last thing I want to do is provide more ammunition.

More importantly, Fixing it Forward is not about the money. It’s about helping people and sharing the repair information via video. I don’t see any value in adding a ‘receipt’. You also have to consider the recipients. They’re already down on their luck, I’ve been there myself, and the last thing you want is for someone to put a ‘price’ on the help they’re giving you. It comes off as condescending.

As for adding value to the vehicle, think about it, what vehicle have I worked on yet that has any resale value to begin with? Also, why would they sell a perfectly running vehicle when all they need is reliable transportation they already have after I complete the repairs?

Thanks again for the suggestion.

[Robert]

I understand and respect your operating philosophy. Assumed you already operated under a 501c3 for a portion of your revenue. Please consult an Accountant especially regarding how your labor expense applies to projects and the tax implications of labor against revenue for not only auto work but also video production. Also, the downside of running all operations through a 501c3 is that everyone has access to your annual financial filings. So, anyone with internet access can find out all of your financials.

[EricTheCarGuy]

[quote=”RCS1300″ post=155039]I understand and respect your operating philosophy. Assumed you already operated under a 501c3 for a portion of your revenue. Please consult an Accountant especially regarding how your labor expense applies to projects and the tax implications of labor against revenue for not only auto work but also video production. Also, the downside of running all operations through a 501c3 is that everyone has access to your annual financial filings. So, anyone with internet access can find out all of your financials.[/quote]

I’m on it. Keep in mind I’ve been running ETCG for the past 7 years, and a video production company for 6 years before that. There was also my real estate company before that. Also, FiF would be a separate entity from ETCG as ETCG IS a for profit company. Now that I know that FiF is viable, I plan on making it ‘official’ in the coming year. I was just waiting to see if it was going to work out before I made that investment.

Thanks again for your input.

[Author]

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