This is part 3 in our in-depth look at whether owners of rental properties need to issue 1099s. In part 2, we closed with an opinion given by numerous CPAs, that "only" real estate professionals need to issue 1099s for their rental activity. Let's look at where they get this from. First of all, there was [...]
I've done a few posts on issuing 1099s to veterinarians, and all of those posts are popular. This one from September 2014 addresses the question of "when does the 1099s to veterinarians" rule start?
The question posed to me was: if we rent a conference room from a hotel, do we need to issue a 1099 to the hotel to report the amount of fees paid? My knee-jerk reaction was to say no, because renting a conference room isn’t really a “rent expense” as in an office lease. An office lease would need reported on a 1099, but renting a conference room wouldn’t be. But I never felt 100% confident in that answer.
This is an excerpt from a presentation I give to business owners and HR professionals about 1099s. ----- There are two deadlines to keep track of, including one that is a major change starting in 2017 (for filing 2016 forms). In the past, the deadlines were: All forms in the 1099 series must be issued to [...]
In general, a 1099-MISC need only be issued for payments made to unincorporated individuals or partnerships. Payments made to a corporation generally are not reportable on a 1099-MISC.