Rental Home Owners Face New Tax Reporting Burdens

[DataAgent]

[quote=pri_dk][quote=Raybyrnes]Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?[/quote]

Did you know that your GOP often lies to you?

http://www.snopes.com/politics/taxes/realestate.asp

BTW, it took about 15 seconds to “investigate.”

Try it before you post next time.[/quote]

Gasp… Republican lies. Say it ain’t so!

[NicMM]

Has this bill become effective? I bought a rental last year and spent thousands to repair it. Do I need to file 1099 to my contractors?

NicMM

[carlsbadworker]

[quote=Effective Demand]
Curious, What makes handymen so special that they get to cheat on their taxes and not be criminals?

I do an honest days work too, can I cheat on my taxes?[/quote]

What makes lemonade stand so special that kids in the neighborhood kids can just set them up without license and cheat on taxes? If they instead babysit, I think they are required to get 1099 based on recent regulations. America is simply over-regulated, give us some breaks!

[henrysd]

No. Expansion of 1099 to contractor for order above $600 was actually never taken into effect and it was already killed before it took effect due to complaints from small business owners – it created too much booking keeping burden and costs.

[NicMM]

Glad to hear that. Thanks Henrysd!

[quote=henrysd]No. Expansion of 1099 to contractor for order above $600 was actually never taken into effect and it was already killed before it took effect due to complaints from small business owners – it created too much booking keeping burden and costs.[/quote]

[Author]

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