Richard Grant

Form 1120 and 1099s aren’t just tax requirements. When done correctly, they strengthen your financial records, improve credibility with banks and partners, and give you clearer insight into how your business actually performs. Are your tax filings building your business or just checking a box?

Chris Phair

22d •

General discussion

1099 form

@Ana Klein, CPA Newbie question. In last weeks session, you mentioned you would upload a 1099 form for us to use. I'm trying to fill this out for our cleaning crew but want to use the correct form. After I fill this out, do I send it to you somehow? Thank you.

New comment 20d ago

Richard Grant

2 likes • 22d

You can use Form 1099 NEC for your cleaning crew if they’re independent contractors (not employees). Before filling it out, have each worker complete a W-9 form so you have their correct legal name, address, and TIN. After you complete the 1099 NEC, you don’t send it to a random person, you: • Give a copy to the contractor • File Copy A with the IRS (e-file or by mail) • Keep a copy for your records If you’re unsure whether they qualify as contractors vs employees, it’s worth double checking that part first since the forms are different.

Pearl Gupta

Dec '25 •

General discussion

STR Country

Hello, I am a US resident and have a regular W2 job. To qualify for the STR loophole, can my STR be in any country around the world? Or does the STR have to be in the USA? Any other considerations I should be aware of?

New comment Jan 13

Richard Grant

0 likes • Dec '25

What matters is that you materially participate in the STR under IRS rules so the losses are considered non-passive. Foreign STR income and expenses are still reportable on your U.S. return, and foreign taxes may come into play. You must also consider local country laws, withholding taxes, VAT/GST, and reporting requirements. Finally, depreciation, currency issues, and potential limits on foreign loss utilization can affect the outcome.

Agnes Dillard

Oct '25 •

General discussion

W2 Job and Real Estate Professional

Can I work a W2 job (20-30 hours per week) and still be a Real Estate Professional if I work my 4 rental properties 15 hours per week? I'd like to get the tax benefits.

New comment Nov '25

Richard Grant

0 likes • Nov '25

Hi welcome how are u doing

Pearl Gupta

Sep '25 •

General discussion

Question on changing residency

Hello, my husband and I currently live in New York and I am wondering how to change my tax residency to Florida to reduce my taxes. We are renters in New York and both work remotely. We have a property in Florida which we use as an STR. What's the minimum amount of time we need to spend in Florida in order for Florida to be considered our primary state of residence for tax purposes?

New comment Jan 5

Richard Grant

0 likes • Nov '25

Hi Welcome how are you doing?

Richard Grant

0 likes • Nov '25

Have u see any yet?

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Richard Grant

@richard-grant-4610

Richard | Business Growth | Govcon Team | consulting

Active 2d ago

Joined Nov 24, 2025

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