About Allyn's Lakeland Village

As you may or may not recall, depending on how close-knit you are within CPA circles, there was a significant new tax consequence and reporting requirement introduced for landlords within the Small Business Jobs Act and the healthcare reform bill passed in 2010.

This new reporting requirement was introduced to help the IRS better monitor landlord property expenses by requiring a 1099 to be filed for all independent landlords for payments during the year to any vendor or individual exceeding $600. Examples of 1099 recipients would include: gardeners, landscapers, contractors, property managers and repair services.

Earlier this year with support from Realtors, landlords, and landlord associations such as the NARPM all contacting their representatives to object to this over-reaching reporting requirement; both Congress and President Obama got the message and decided the filing burden was too great for smaller landlords. The requirement for rental property owners to file 1099's was repealed in May of 2011. The senate voted 87-12 to approve the repeal and it was signed shortly thereafter by Obama.

This is good news for independant landlords, your 2011 taxes just got a lot easier as you do not now have to collect tax information from your vendors, nor report it on the 1099-MISC form as proposed in the Small Business Jobs Act.

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Nathan is a member of Rentec Direct who provides property management software, tenant ach payment processing, and tenant screening for property managers and landlords nationwide.

My Grandma's house was home to us all the entire time I was growing up. It was the one thing in my life I could count on. Grandma would be at the dining room table reading a book and enjoying a steaming cup of coffee with cream and sugar of course, at any given moment. A fresh baked batch of cookies could disappear before your eyes and a beautiful display of flowers from her garden could always be found delighting the table's center.

Why does this memory matter? Because it is a gift. A gift that was given without strings attached. A place I could count on when the rest of the day stormed around me. It was her house that was home to me. The place where cousins gathered dressed up for the occasion and forbidden to get dirty, aunts and uncles debated the politics of the day and the place I tear up when I drive by.

Home ownership is not just a monetary investment. It is =piece of mind and security in the storm. A place where priceless memories are made and Christmas shows up in pictures.

When I bought my home, I thought of Grandma's. The cat laying in the sunny window and the sidewalk I skated around and skinned my knees. I thought to myself home is where life is made and dinner is waiting. It is where we connect and understand each other.

I purchased my first home when I was 19. I was thrilled to be able to share our home with our children and build that tradition with them.

I know now that it meant something to my kids, as they tell me what they want in a home of their own. What memories they hope to pass on and where their adult lives will begin.

Owning your own home is not about a price tag or a market. Owning your own home is about the life you lived and the place where memories live on forever.

Todays market is another reason why clients can buy real estate and have something to show for the purchase!

The news today went something like this--

The Dow Jones industrial average fell as much as 527 points, the second consecutive rout since the Federal Reserve announced a change in strategy for fighting the economic slowdown.

At the close of trading, the Dow was down 391.01 points, or 3.5 percent, at 10,733.83. The Standard & Poor's 500 index fell 37.18, or 3.2 percent, to 1,129.58. The Nasdaq composite fell 82.52, or 3.3 percent, to 2,455.67.

Nineteen stocks fell for every one that rose. Trading volume was high on the New York Stock Exchange, at 6.9 billion.

Oil and metals prices, which rely on economic demand, sank. Traders sought the safety of Treasury bonds

Keep in mind the positive results of why real estate is the better purchase or investment!

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