All Forum Posts by: Steve S.
Steve S. has started 294 posts and replied 637 times.
Post: Hiring friends to do work on rentals and taxes
- Dallas, TX
- Posts 649
- Votes 52
Originally posted by @Jennifer Rysdam:
<$600 you are fine. Anything over that needs a 1099 unless they are a corporation. One good practice is that if you know you are going to pay someone more than $600, or you get to that point during the year, make sure to get a W9 filled out by them before paying them. It's much easier than after the fact. I also get them from people who are claiming to corporations. You don't give them a 1099 but having the W9 is proof of what they are claiming in case they are lying. Always better to cover your butt just in case.
https://www.irs.gov/pub/irs-pdf/fw9.pdf
What if the kid I have mow my the yard refuses? I’m trying to be by the book here but also realistic
Post: Hiring friends to do work on rentals and taxes
- Dallas, TX
- Posts 649
- Votes 52
Originally posted by @Natalie Kolodij:
1099 any one who is not incorporated to whom you pay more than $600 for the year. It's what is legally required per the IRS.
Here is some IRS information regarding the penalties for not filing the 1099s.
And what about < $600?
Post: Hiring friends to do work on rentals and taxes
- Dallas, TX
- Posts 649
- Votes 52
What happens if you don't 1099 them?
If it's under $600 for the year, it's not required right?
Can I still expense it or does that create some issue?
Same question for the people you pay to mow the lawn. I've asked them where to send the 1099 and gotten no response. Can I still expense? What liability do i have?
Post: Is there an app that allows you to quickly calculate CoC return?
- Dallas, TX
- Posts 649
- Votes 52
I have plenty of powerful spreadsheets, but also looking for something simple in the palm of my hand for when I'm no the go, driving for dollars, etc.
Anything out there that you'd recommend?
Post: Should I improve the bathroom finish out of my rental?
- Dallas, TX
- Posts 649
- Votes 52
In an A neighborhood. rents well north of $2,000. Build in 1998.
Here’s a picture of the master bathroom shower with that lovely 1998 gold trim
1) what would it cost to replace it?
2) do you think it would help raise rents any?
Post: Need help with how to fix a French drain
- Dallas, TX
- Posts 649
- Votes 52
Originally posted by @Jim C.:
You can rent an auger, the ones used to clear sewer lines from Lowes/Home Depot, etc. Put the cutter bit on the snake and rod it out. It will pull out any leaves, gunk, roots, etc.
That’s a good idea. Thx
Post: Need help with how to fix a French drain
- Dallas, TX
- Posts 649
- Votes 52
Originally posted by @Dustin Hood:
Have you snaked the line to make sure it’s not clogged?
Not yet. That’s next on the list. I do notice what appear to be some roots coming out of the opening on the right side
Post: Need help with how to fix a French drain
- Dallas, TX
- Posts 649
- Votes 52
Another angle
Post: Need help with how to fix a French drain
- Dallas, TX
- Posts 649
- Votes 52
Here’s some more pictures of what I’m dealing with
Any ideas before I call someone?
Post: Need help with how to fix a French drain
- Dallas, TX
- Posts 649
- Votes 52
Originally posted by @Manolo D.:
Pretty easy fix, google it
Thanks. That helps. Bwahhahahahahaha
Seriously, I've googled. Just came up with a liner from Home Depot you can put in the drain pipe box. Curious if there's other options