2019 is almost over. The new year will hopefully bring good things but one thing it will surly bring is taxes. As a real estate investor, you have folks, such as plumbers, lawn crews, carpenters, etc., that do work for you. If you payed any of these folks more than $600 you have to send both them and the IRS form 1099.
I have discussed IRS form 1099 before here. The thing to understand about IRS form 1099 however is that you have to use a specially designed form. This form cannot be downloaded and printed from your own printer. You have to buy them. This means you need to purchase those forms now. And since every other real estate investor will also need these forms, you need to buy them now before supplies run out. These 1099 forms are specifically for 2019 and trust me, they will go out of stock. So order now.
You only have until January 31, 2020 to send 1099 forms out to your contractors. That is just over two months away so the time to think about next year’s taxes is now.
Plus, your contractors may be waiting or depending on their tax refund. They cannot file to get their refund until they get the 1099 form from you. So be a friend to you contractors and get them their forms early.
You can order your 1099 forms by clicking this link. Do it today!
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