investors: Landlords be Aware of the New 1099 Law
- 06/24/11 09:23 AM
Landlords be aware of the new 1099 law... Since the beginning of this year, Jan. 1, 2011, any person who receives rental income must provide a Form 1099 for all payments of $600 or more made to service providers. The Form 1099 is provided to the IRS and to the service provider. The new requirement applies to both residential and commercial property. Landlords will now be required to obtain certain information from their vendors/contractor, such as their name, address, and social security number or tax identification number. You will also need to keep track of the amount of money that you (3 comments)
I wish I bought in 2011! Don't be left out in the cold. Many people are going to be saying "I wish I bought in 2011". There are still many people on the fence, thinking about buying property, but not sure if now is the time. It is a great time to buy! Property values will be increasing, likely soon. Some areas have already seen some increases. Indicators for the Phoenix Metro Area are all positive. A year ago the same indicators were negative. It is definitely time to buy so don’t be left out in the cold! (0 comments)