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.

Property Management 227

Property Management Property Manager Management Electronics 227

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. When you hire an independent contractor to perform services for your business, the cost is deductible, as well.

Property Management 246

Property Management Property Manager Management Property 246

Buildium

DECEMBER 30, 2024

For 2024, the standard mileage rate is 67 cents per mile. Legal and Professional Expenses You can deduct fees paid to attorneys, accountants, consultants, and other professionals for any work related to your business. When you hire an independent contractor, that cost is deductible, too.

Property Management 245

Property Management Property Manager Management Property 245