Discover tax considerations when turning a rental into a personal residence, including gain exclusions and reporting.
Rental Property
Landlords Do You Collect W-9s?
Landlords a 1099 applies to you! Do you collect W-9s from contractors? Well did you collect W-9s from those contractors? Did you know that services over $600 threshold require that you do? When you use independent contractors to perform services for your business, for each individual whom you pay $600 or more for the year, the IRS […]