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1099 forms for property management: Everything you need to know (2024 update)

Buildium

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. The W-9 form will give you their filing status and federal tax ID, so you can file your 1099-MISC forms accurately when the time comes.

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Top 10 property management tax deductions for 2025

Buildium

Deductions on Legal and Professional Services You can deduct fees that you pay to attorneys, accountants, consultants, and other professionals if the fees are paid for work related to your business. When you hire an independent contractor to perform services for your business, the cost is deductible, as well.

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How to Handle a Bad Contractor

SparkRental

The Big Picture On How to Handle a Bad Contractor: Keep detailed records of all agreements, payments, communications, and any issues with the contractor’s work. Before escalating, address the problems directly with the contractor, clearly outlining the issues and your expectations for corrections.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

Legal and Professional Expenses You can deduct fees paid to attorneys, accountants, consultants, and other professionals for any work related to your business. Employees and Contractors If you hire one or more employees, your payroll, as well as costs such as health insurance and other benefits are fully deductible.

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After a Wildfire: Essential Steps for Property Recovery

Beach Front Property Management

Reach out to a contractor for an additional estimate to ensure accuracy. If the policy wording is unclear, consult a local attorney specializing in insurance law. Homeowners should review their liability insurance coverage with an attorney to ensure they are protected against such claims.

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Building Your Colorado Springs Dream Team: Essential Professionals for Investors

Muldoon Associates

Building a robust network of contacts, including fellow investors, real estate agents, financial advisors, and contractors, can provide numerous advantages. Their network of contacts further facilitates connections with other professionals, such as lenders, inspectors, and contractors, enriching your investment ecosystem.

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What are the Seven Most Important Qualities that Property Owners look for when it comes to Hiring a Property Managers?

Esquire Property Management Group

Make Use of Reliable Vendors: Engage in business with contractors who are dependable and economical. Esquire Property Management Group also is the only Northern California property manager that offers Performance Guarantees and has a full-time real estate attorney on staff.