Posts Tagged ‘Rents’


What’s the Difference in Capital Gains Taxes?

Capital Assets

Capital assets are generally those held for investment.  Stocks, bonds and mutual funds are some examples. If there is a gain on the sale of these assets, a capital gains tax is due.


4 Reasons to File Form 1099

1) Payments made to independent contractors. Payments to independent contractors over $600 need to be issued a Form 1099-Miscellaneous.  This form needs to be issued to all unincorporated vendors.  An unincorporated business is one that is a sole proprietorship, partnership or limited liability company (“LLC”).


It’s 1099-Reporting Time Again…

January 31st is the deadline to furnish Form 1099- Misc. to recipients.

The 1099-MISC form is used to report more than two dozen types of payments that must be claimed as income by the recipient. This category includes payments made by businesses as fees to attorneys, service providers and freelancers. Other types of payments covered by the 1099-MISC include reimbursement for auto expenses, awards and bonuses, commissions, prizes and vacation allowances for non-employees.