North Idaho Real Estate: Lake Coeur d’Alene View Home with Separate In-Law/Guest Quarters
Coeur d’Alene Lake View Home
Enjoy lovely views of peerless Lake Coeur d’Alene
Renovated in 2008, this is a fantastic Home, Vacation Retreat or Potential Double Rental!
3BR/2BA on Treed .33 acre parcel
300 ft to the water’s edge
Main Level:
Updated Kitchen with new appliances
Master Bedroom
Deck opening to wide-open lake views
Lower Level – Great In-Law or Guest Quarters:
Covered Lake-View Deck
Separate entry
Full 2nd Kitchen
Family room
Less than 1 mile to Boat Dock.
Call
Christy Oetken
of Windermere Coeur d’Alene Realty today:
208-660-0506
Check it out at
www.RealEstate-Browser.com
Text LAKE to 72727
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Related articles
- North Idaho Real Estate: Take Advantage LOW Prices on Lake Coeur d’Alene Waterfront (realestatebrowser.wordpress.com)
- Lake Coeur d’Alene View Estate on 5 Acres with Boat Slip (realestatebrowser.wordpress.com)
JUST LISTED: Coeur d’Alene Lake-View Home with Double Rental Potential!
Double Rental Potential!
Multi-Level 3BR/2BA 2601 Sq Ft
300 ft to Water’s Edge & Near Boat Docks
Separate Guest or In-Law Quarters with 2nd Kitchen
$225,000
Enjoy lovely views of peerless Lake Coeur d’Alene from this very spacious Multi-Level home on a treed .33 acre parcel, only 300 ft to the water’s edge! The main level features an updated Kitchen with new appliances & Master Bedroom, plus a deck opening to wide-open lake views. The lower level also has its own lake view from a covered deck. Separate entry opens to the home’s 2nd kitchen, 2 bedrooms & family room. This level would make great Guest or In-Law Quarters! Use your imagination for the 350 sq ft unfinished walkout basement. Man Cave? Workshop? Home Office? Less than 1 mile to Boat Dock. Renovated in 2008, this is a fantastic home, vacation retreat or Potential Double Rental!
Call Christy Oetken
of Windermere Coeur d’Alene Realty today:
208-660-0506
1099 Rental Reporting: What does this have to do with Health Care?
Rental Property Owners have been handed another huge burden for reporting income and expenses in 2011 & 2012.
The Small Business Jobs Act of 2010 and Patient Protection and Affordable Care Act, PL 111-148, signed into law in 2010, both beef up 1099 reporting requirements and pentalties for rental property owners.
Between the two acts, Rental Property owners will be responsible for sending 1099’s to perhaps hundreds of service and retail vendors over the next two years. Corporations are not exempt.
IRS Forms 1099 must be issued by every person in business paying $600 or more during the year for services. If you pay a plumber to unplug the sink in your restaurant 6 times during the year at $100 a visit, you’ve got to issue a form to your plumber and the IRS. If your plumber is incorporated, you don’t have to issue the form. Well, until now. http://blogs.forbes.com/robertwood/2010/11/23/got-irs-forms-1099-more-soon/
Chris Neefus of CNSNews.com explains it this way:
The Patient Protection and Affordable Care Act, President Obama’s health care law, requires that small businesses file a Form 1099-MISC with the IRS for any goods they purchase from an outside vendor valued at over $600.
But the new bill, the Small Business Jobs and Credit Act (H.R. 5297), extends the mandate to private individuals who own property from which they receive rental income. Those people would also now have to fill out paperwork reporting any expenditure they make on that property valued over $600 for the year.
“There’s 10 million people who don’t know that they’re now suddenly going to be required to do this,” Ellis said. “They don’t have to issue them until January 2012 because it’s a 2011 requirement, but they’ve got to start tracking in January (2011). So I hope their internal accounting is good.”
Writing for ATR, Ellis said, “So imagine that you’re renting out your starter condo. You pay a property manager, a plumber, a repairman, a locksmith, a condo association, etc. Imagine having to get a taxpayer identification number, order 1099-MISCs from the IRS, fill them out by hand, keep a copy for yourself, send a copy to each payee (from whom you had to get a tax ID number and other information), and then finally take your legitimate rental deduction. Then the IRS finds some hiccup somewhere, and you get audited — all to placate an insane Congress.”http://www.cnsnews.com/news/article/75911
Quick figuring…At .44 postage per sheet, a ream of paper (which might be required for all those 1099’s) could cost you big. Do the math:
500 Sheets per ream X .44 = $220
How many 1099’s will you be sending?
Not that you could actually PRINT your own 1099’s anyway. You’ll have to order those from the IRS. See page 1 of the IRS 1099msc form, which has been generously made available for downloading. Caveat? You can’t USE the downloadable pdf! It’s not scan-able. Sorry. Enticing though it may be, if you send the downloadable PDF, you may be fined $50!)
And…what in the world does this have to do with HEALTH CARE???
This is our government’s version of assisting Small Business??
Related Articles
- New Rules: You and the Irs This January (ppjg.wordpress.com)
- Let There Be Forms 1099 (blogs.forbes.com)
- IRS Form 1099 Wars (blogs.forbes.com)
- Got IRS Forms 1099? More Soon (blogs.forbes.com)