All Forum Posts by: Andrew S.

Yes, those arguments do exist and its a bit of a grey zone but given that it is pretty simple to file the forms, I have always erred on the side of filing the 1096/1099s.  Consult a Pro, if you are unsure though. 

Yes, the exemption for credit card payments does exist, although I don't know of any contractors who will accept credit cards and absorb the fees (they may be out there but I have not come across any).

I don't know about PayPall  or Zelle but I doubt those qualify for the exemption (unless the PayPal transaction is via credit card and not bankdraft).  However, PayPal for business transactions has fees too.

Contact him in writing (include a blank form W9j and ask him to complete and return the form immediately.  YOUR deadline for filing the 1099 (and the corresponding form 1096 to the IRS) is the end of January, so you don’t have much time.  
more than likely, he will not respond because he doesn’t want to report the income to the IRS.  There are IRS rules you need to follow to escalate the process (I believe at some point you bring the IRS into the loop as well to “motivate” the contractor).  You’ll need to look up the exact process, but there is quite a bit of work involved and the IRS can come after you if you don’t comply.  Needless to say, the contractor will not be happy either...  so this is why others have suggested you request the W2 form BEFORE you pay ( in fact, it is best to request and receive it before the work even starts!).

There are potentially huge fines that the IRS can hit you with for not doing this right.  Unlikely that they will pursue you to the fullest extent of the law as a small landlord, but it Is possible.

You (or your accountant) are mixing up two different laws.  You can pay to any contractor an amount less than $600 per year (not per job) without issuing them a 1099 form.  Cash, check, barter, etc., doesn’t matter 

You can deduct ANY amount of cash or other type of payments (not just $600), as long as you can show proper documentation (invoice, receipt, etc as mentioned above).

I agree with most responses: buy a new (or used, if available) washer and have it installed.  What I do NOT agree with is replacing the dryer as well.  Why would you replace a perfectly working dryer?  Other than a subtle esthetic argument (“matched looks better than unmatched”), the two appliances are entirely separate, so the dryer may run just fine  for another 10 years while the washer may break again after 5.  If it is just because the dryer is the same age as the washer, are you going to replace the dishwasher and fridge also, each time the washer gives out?

No reason to replace perfectly working appliances, in my opinion.  You don’t get THAT big of a price break for buying the set instead of individual.

Call Amy Bonis (google her - I'm not allowed to give e-mail or link).  She is a mortgage broker and very experienced in working with investors.  Tell her Andrew sent you

Contact Nancy Neville - she is a "Quickbooks for rental guru" and has written several step-by-step books on the topic.  She used to be on these boards, but I haven't seen her post for a while.  You can try to contact her at Nancy178atcomcast.net

Some of her books are: 

Property Management in QuickBooks (for Property Managers)

The New & Improved Landlord & Property Managers Guide to QuickBooks by Nancy Neville Certified QuickBooks Pro Advisor

I don't understand why LVP on stairs "does not work".  I installed LVP on stairs in one of my rentals a couple of years ago and it works just fine.  

You may also want to investigate your municipality’s exact rules on who owns/maintains that particular space.  It looks like the tree sits on the hellstrip (the space between the sidewalk and the road) and that area is handled differently depending on local laws.  

Thanks for the replies - I didn’t realize that the “switch to old” was an option this time.  I’m good now.  To me, the way I use the forums, the new format is not just bad, but it actually makes it unusable.  Maybe it works for others somehow, but I will have to stop using BP altogether if the new format is all we have.