Steve S.
How do you handle cash payments (lawn, etc) and taxes?
17 December 2017 | 6 replies
Landlords issuing 1099s is a grey area.There is no strict requirement for landlords to issue 1099s, and I have never heard of the IRS going after landlords for failure to file 1099s.That being said it does not necessarily mean that 1099ing your contractors is a bad idea.And remember the 1099 threshold for something like mowing lawns is $600 for the year per recipient.
Philip Gibbs
Property management fees
5 May 2018 | 7 replies
So it's usually the second month and going forward when you'll receive your proceeds.You also mentioned that the tenant is a housing voucher recipient.
Barbara Gardner
Realeflow Direct Mail Campaign Help!!
7 May 2018 | 0 replies
So my newest question to those of you who have experience with direct mail campaigns on the site "Realeflow" is this, under a few of the recipients names (for those who I am sending post cards too) are LLC'S.
Mindy Jensen
Want to Talk Tax? Upcoming Podcast Episode Needs Your Questions!!
8 March 2018 | 123 replies
As far as you paying income or cap gains, if it's classified as a gift, the recipient never pays taxes unless the donor would be required to pay and doesnt.
Stephen Thorne
Cozy.Co Problem .. Potential Major Flaw in their system
22 November 2020 | 27 replies
For disputed ACH payments, the receiving bank is obliged to investigate and consider evidence presented by the recipient (the landlord).I anticipated this problem and therefore never use Cozy for rent collection.
Brandon Paul
Issuing 1099's for Vendors
25 January 2018 | 3 replies
Some payments do not have to be reported on Form 1099-MISC, although they may be taxable to the recipient.
Jacob A.
Advice on a potential deal.
27 January 2018 | 4 replies
I have done some research into the situation and it appears that the local housing authority has strict rules for the recipients of their services.
Blair Poelman
Hey Self Directed IRA guys - Question on the JOBS act
30 January 2018 | 5 replies
The more the advice is tailored to the recipient, the more likely it will be viewed as a recommendation.
Steven Straughn
Create LLC for family-owned rental?
5 February 2018 | 8 replies
If they gift the property, the recipient takes a "carry over" basis meaning they also get the parents' basis.
Account Closed
Can i sell a gifted house inorder to buy a bigger multifamily?
24 April 2017 | 10 replies
I plan on fixing it up a bit and selling so i can have enough capital to buy a small multi-family.I've read that if the recipient of the "gift" sells the property quickly then he/she will be taxed significantly more.