Rentec Direct gives property managers and landlords the ability to electronically file 1099-MISC tax forms for vendors and owners directly through the software.
Grants Pass, OR (PRWEB) November 25, 2014
Rentec Direct customers can rest easy this time of year with simple tax reporting functions and e-filing services in their property management software. As the end-of-year approaches, tax season stress can be alleviated by preparing early and simplifying tasks with online services. Using the tax features built directly into Rentec Direct’s property management software helps landlords and property managers stay organized and prepared when it comes time to file 1099-MISC forms for 2014.
Rentec Direct gives property managers and landlords the ability to electronically file 1099 forms for vendors and owners directly through the software. Property managers and landlords are required to issue 1099-MISC forms to any service provider who receives $600 or more for work relating to a rental property.
In order to properly prepare their tax documents, landlords need to have a valid federal tax ID number for every vendor and owner. For individuals, a federal tax ID number is their social security number and for businesses a federal tax ID number is their employer identification number (EIN).
Rentec Direct’s tax reporting functions include the 1099 Tax Assistant which appropriately shows incomes and expenses per property. This is the same data that will be used for populating the e-filing system in the software. The 1099 Tax Assistant Report and the 1099 e-filing feature utilize all the owner distributions and vendor payments entered throughout the year, so there’s no need for double entry. If a customer decides to manually file 1099s or use a CPA, the 1099 Tax Assistant is a vital report for quickly and accurately completing tax forms.
To learn more about property management and software solutions visit Rentec Direct at http://www.rentecdirect.com or call their U.S. based live customer support team during normal business hours at (800) 881-5139 to speak to someone directly.
About Rentec Direct
Rentec Direct provides cloud based rental software solutions for property managers and landlords. Rentec Direct services include tenant screening packages, tenant ACH payment processing, marketing tools and online syndication of vacancies to more than 20 popular websites.