Buildium
NOVEMBER 5, 2024
Property managers are required to request a W-9 from and issue a 1099-MISC form to each owner, attorney, and contractor they work with, so long as payments meet or exceed the $600 threshold. For 2024, the form looks like this: What Is a 1099-NEC form? The IRS makes (typically small) adjustments to the 1099-MISC form each year.
Yardi Breeze
NOVEMBER 22, 2024
For businesses formed before January 1, 2024, compliance will ensure you avoid fines of $591 per violation per day (subject to inflation). The end of the first reporting deadline is January 1, 2025 (applicable to businesses formed before January 1, 2024). Companies formed after January 1, 2024, must report within 90 days of formation.
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Yardi Breeze
NOVEMBER 22, 2024
For businesses formed before January 1, 2024, compliance will ensure you avoid fines of $591 per violation per day (subject to inflation). The end of the first reporting deadline is January 1, 2025 (applicable to businesses formed before January 1, 2024). Companies formed after January 1, 2024, must report within 90 days of formation.
Yardi Breeze
DECEMBER 12, 2024
Important update as of December 12, 2024 A nationwide court order has temporarily put a hold on the requirement for businesses to report Beneficial Ownership Information (BOI) under the Corporate Transparency Act (CTA). The end of the first reporting deadline is January 1, 2025 (applicable to businesses formed before January 1, 2024).
Condo Control
NOVEMBER 12, 2024
This act came into effect in January of 2024, and businesses that meet certain criteria are expected to file a Beneficial Ownership Information (BOI) report to the U.S. If board members ask a manager or attorney to file on their behalf, then they will need to pay those professionals for their time. financial system.
Buildium
DECEMBER 17, 2024
For 2024, this was as much as $20,400 (the actual amount depends on the cost of the car and the amount of business use). The standard mileage rate for 2024 is 67 cents per mile. If youre looking for more tax help, check out our 2024 Tax Guide. You also get an annual deduction for depreciation.
Condo Control
NOVEMBER 21, 2024
California Florida Illinois You can also check out laws that came into effect in 2024 and previous years for each state. Amendments were made in 2024, requiring condominiums with 25 or more units to have a website. If a building is already more than 30 years old, it must conduct a milestone inspection before December 31, 2024.
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