If your business model relies on using workers that you classify as “independent contractors” the latest interpretation from the US Department of Labor should be of extreme concern you. Hat tip to Attorney Tristan Pettit for alerting me to this. I have written a number of post about the dangers of calling a worker an independent […]
Remember Your handyman – cheap contractor or $60,000 mistake? Many of you attended the Apartment Association’s Meeting earlier this month featuring employment law attorney John Murray. Here is a link to the State of Wisconsin’s guidance on the issue. Most owners I’ve met that call their workers contractors fail on four or more of the test […]
We use employees almost exclusively, for a number of reasons. Worker Comp insurance is important as your homeowner’s policy does not cover people working on your property. More importantly the tax implications if a contractor is reclassified as an employee. Why is the tax issue more important than the workers comp? You can and should […]
There is a revision to the 1099 link: Kim here from Best Accounting Software. I noticed a broken link on this page – http://justalandlord.com/2011-irs-form-1099-revisions/ The IRS now has a section for self-employed individuals with all sorts of tax guidance, perhaps you’d like to update your page to point people to – https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center In 2010 two […]
Canceling rent will initially cause landlords to fail. This will have a cascading impact on municipal budgets and local economies as contractors and vendors aren’t paid or given work. Banks will suffer, but they’ll probably get bailed out again. Ultimately it will be the tenants who pay the greatest price as rents will increase dramatically […]
Halting evictions during the coronavirus crisis isn’t as good as it sounds Read the whole thing, but here are some tasty nuggets To protect renters from losing their homes, a growing number of cities and states have put a temporary halt on evictions, meaning that landlords cannot evict tenants who fall behind on their rent. While this […]
We have probably all been holding our breath to see if rental property ownership and management would be eligible for the new 20% small business tax deduction. Last week it became clear that we are. There are some documenting requirements that take effect this year that you need to learn more about. From the IRS: […]
A reader writes of the frustration he was having after being charged by the city for mattresses dumped at his property that were not from his tenants. With the ever exploding bedbug problems in urban areas, there are a lot more mattresses hitting the garbage. We had a similar problem with properties in Milwaukee. At […]
Sewer, water and municipal service fees have become a major operating expense. I’m sure these runaway fees have lead to the failure of many newer, under capitalized owners. Last month the law changed on municipal utility charges, making it more practical to have tenants be responsible for these charges. We owe a lot of thanks […]
