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Yes! Rent is a source of income for the landlord, and he/she must report these earnings to the IRS. You must report all earnings, even gambling earnings! This is why some landlords give discounts for rent payments made with cash, so they can fudge what they earned because there is no real record of the transaction.
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What is the long term portion of deferred rent?
A long term deferred rent is money a company owes, but hasn't paid, the landlord at the reporting date. Think of this as rent debt, the kind that the business must settle to be in good terms with the property owner. The concept of rent deferral draws on multi-year contractual agreements that businesses sign with landlords, generally with the promise to pay rent periodically, such as every six months or on a quarterly basis. The deferred rent liability account also may arise if a corporate tenant has a temporary financial problem and simply cannot pay rent.
Is a 1099 Misc form required for rent paid to a landlord?
I am the owner of a small LLC, and pay rent every month for a small office to the building owner. Am I required tom Ile a 1099 Misc to report this amount?
If you rent a home do you pay school taxes?
No, you don't directly pay real estate taxes when you rent a home. You don't receive an assessment notice from the local assessor and get the tax bill. However, you do pay real estate taxes indirectly in your monthly rent. Real estate taxes, insurance, maintenance, and other costs are taken into consideration by landlords when they determine the amount of rent they need. Luckily there is also competition from other available rental units, so the landlord can't ask too much in rent.
If a property owner owes back taxes on a house and the person who lives in the house doesnt pay rent can the landlord put you out?
Absolutely.....your obligation is to pay the rent...what he does or doesn't do....or when he does it, is absolutely of no concern to you. And your failure to pay rent does not change anything with his not paying the tax collector. That could be the reason he is having trouble! Paying rent is your obligation. Most landlords ding your credit (I would) after being five days late. I start eviction on day ten. If you are late twice, no chance of staying.
What is prepaid rent receive?
Prepaid rent received is money "your company" has "received" from a customer to pay rent for "x" amount of time, or prepaid.Prepaid Rent Received is actually an "income" or "revenue" if you are renting out a building, home, apartment, whatever.This is just the opposite of Prepaid Rent that is used in the expense. Instead of paying rent, you are receiving it.Say you own a house you are renting out and the tenant decides to pay 6 months rent in advance, you get the money, but it is recorded as a prepaid rent received, as you now still owe him the full six months rent, you are now obligated to the tenant for the next six months and therefor prepaid rent received (similar to unearned revenue) is a liability for you until the rent is used up.
Can the landlord make you pay your rent only in money order?
You can pay them with cash or check.
What do you mean by rent?
Rent is nothing but the money you pay to the person who owns the place you live in. You are staying there by paying a certain sum of money to the landlord every month. That is rent.
How do you use landlord in a sentence?
I have to pay rent to my Landlord
Do you have to pay rent when there is bedbugs and cockroaches in your building?
Once the landlord makes diligent efforts to exterminate, yes.
Can you pay your rent with a postal money order made out to you?
No: the money order must be made out to the Landlord unless he agrees to accept it after you endorse it.
What do you do if your landlord is missing so you cannot pay rent?
You could go to the bank and open an 'escrow' account, and put the rent in there. Eventually either your landlord, or your landlord's estate, or your landlord's creditors will come looking for it, and when that happens you want to have both the money itself and proof that you made a good faith effort to pay it in a timely fashion.
Can a landlord knock on your door for the month's rent?
This depends on the policy of your landlord. In most leases it states when, where, and how you pay your rent.
How do you address a letter when extra money is needed to pay the rent to landlord?
Please consult with an attorney about this, as this is a legal question.
Do you still have to pay your landlord if house is for sale?
If your landlord is selling the house you have to continue paying the rent for it, whether to the old landlord or to the new one. Your old landlord will give you notice about when they have sold the property, and the new landlord will give you instructions on how to pay them the rent.
Do i Have to pay rent when landlord is selling property and tells me i have 3 months to move?
Yes, you have to pay rent.
If I sign a lease but do not exchange money is the lease valid and do I have to move in the apt?
If you signed, the lease is binding. You don't have to move in, but you do have to pay the rent. The landlord has an obligation to try to rent the place, but until he does, you have to pay.
I pay no rent could I get a 1099 from the landlord since its a free apartment?
I doubt it: 1099's are for payment of money, not for free services.
