Members continue to post about the NEW "changes" in the 1099 reporting requirement contained in Obamacare.  They have gotten this information from their CPA or tax preparer or other print resource and the information may well NOW be outdated.  Since this information is most likely already on it's way OUT THE Sentate window, HOW do we CORRECT this MISinformation we have provided to clients AND the public?
 
What happens when someone RELIES on this information, buys an expensive accounting software package ONLY to be told that the provision has been REPEALED and the cost is unnecessary?.
 
Like the MISinformation on the NEW lead certification requirements last year that was then changed 3X after the initial legislation was passed, WE * the real estate industry *are part of the problem if we are providing this information with no regard to how this information is circulating AND how we can correct it IF it turns out to be incorrect.
 
Let's be RELIABLE Sources if not the Wikipedia of this information when it needs to be UPDATED!

 

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans


"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

 
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8 Comments on Let's be CAREFUL Out There with the Information We are Providing that is not CURRENT!

FEB
09
2011
805,327 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

Hi Wallace - Tax laws are always changing at the federal, state / provincial, county, local and other jurisdictional levels all the time throughout the USA and Canada.  Whenever I write tax related posts, I include a comment stating the date that the post was written and that laws, interpretations, court cases, personal fact situation etc. may affect the law at the time that the post is read and that people should not rely on the post as their source of information.
6:21am • #1
1,023,498 Points 66 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Marc * you are doing it the RIGHT WAY.  AR members who are regurgitating what a tax preparer sends them in an annual mailing are doing themselves and their would-be clients a disservice.
6:29am • #2
1,444,324 Points 26 Featured Posts Outside Blog Called Shot Master

Thanks for sharing your observations. All need to be careful with the use of information found on ActiveRain and social media sites.  A recent ActiveRain blog included much out of date information on reverse mortgages.

 Life is good in Maryland!
6:59am • #3
1,023,498 Points 66 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Roy * good point.  I forgot that example and it should have been included with my lead certification MISinformation!
7:01am • #4
366,695 Points

Wallace- Hey if we hand out misinformation, can we all get jobs working for the mainstream media?
9:10am • #5
1,023,498 Points 66 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I find it interesting that real estate agents have to ARGUE against information on Trulia or Zillow as they promulgate their OWN MISinformation.
9:48am • #6
FEB
11
2011
308,212 Points 2 Featured Posts Localism Sponsor Called Shot Master

Lots of 'experts' on Trulia, Zillow, and ahem... AR.  It goes to show that we have to verify our sources always.
12:51pm • #7
1,023,498 Points 66 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Yolanda * those who post this information are not taking responsibility for the follow up.  Reverse mortgage information is also misleading
4:36pm • #8

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Wallace S. Gibson CPM *

LandlordWhisperer

Charlottesville, VA

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Gibson Management Group, Ltd.

Office Phone: (434) 825-1933

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