Starting a Rehab - Contracts, 1099, & recording payments
About to start first rehab. I wanted to know as an owner when I pay a individual to do work is that different than when I pay a company to do work. Should I have contracts for all jobs being performed or is it okay to have some one just do a job without a contract (i.e. demo work, etc.) When does something get 1099? And are there other thing my wife and I need to be aware of when recording payments for work done?? We are just trying to start this off right and just looking for some insight from those who have done it. Please remember we are not doing this as an LLC, just as the owners of the property. Thanks for all the input!!