Compliance and Tax Considerations in Property Management Accounts Payable
This presentation, "Compliance and Tax Considerations in Property Management Accounts Payable," presented by EXO Edge, outlines the essential compliance and tax-related responsibilities that property managers must address within their accounts paya
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Compliance and Tax Considerations in Property Management Accounts Payable Presented by EXO Edge
Understanding Compliance in Property Management AP Maintain accurate vendor records (W-9s, insurance certificates) Follow internal approval workflows and authorization limits Enforce segregation of duties to prevent fraud Document retention policies per IRS and local requirements Comply with fair housing and anti-discrimination laws in vendor selection
Tax Responsibilities for Property Managers Issue 1099 forms to qualifying vendors by January 31 Track and report sales/use tax on vendor purchases where applicable Ensure timely W-9 collection and validation before payment Avoid backup withholding penalties by maintaining compliant vendor data Stay updated on state-specific AP tax rules
EXO Edge: Your Partner in AP Compliance Automated 1099 and W-9 tracking within AP workflows Robust documentation and audit trails Vendor verification processes built into invoice workflows Tax law expertise to support multi-state operations Reduced risk through best-practice AP controls
