Form 1099 Considerations for Landlords Who Hire Rental Property Contractors
Is Your Rental Property an Investment or Is It a Business?
If you own rental real estate, you need to address whether you are an investor or if you have a trade or business. The distinction between these two has very different and important tax consequences.
Landlords who are business owners are allowed certain tax deductions that investors are not. In pre-2018 tax years, business owners could deduct home office expenses and were entitled to section 179 expensing. Beginning with the 2018 tax year, in addition to the aforementioned pre-2018 expenses, business owners are entitled to [Read more…] about Form 1099 Considerations for Landlords Who Hire Rental Property Contractors