AVOID POTENTIAL FOR PENALTIES. LATE 1099 FILING PENALTY IS NOT WORTH THE RISK Specifically, not providing a correct statement (intentional disregard) carries a penalty of $250 per 1099, with no maximum for the year. $50 penalty per 1099, if you file within 30 days of due date. $100 per 1099, if … [Read more...]

New IRS Rules for Rental Property Owners – Avoid the 3.8 Percent Obamacare Tax

           Rental Property Owners can Avoid the 3.8 Percent Obamacare Tax An achievement of the Obama administration has been the 2010 Affordable Care Act, a.k.a. Obamacare. Part of the law is a 3.8%    investment income surtax that will be applied to “high-income” earners beginning in 2013. … [Read more...]