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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 payable (AP) processes. It highlights the importance of maintaining accurate vendor records, enforcing internal controls, and adhering to documentation requirements to ensure regulatory compliance. The presentation also covers critical tax obligations such as issuing 1099s, collecting W-9s, and understanding sales tax responsibilities. Finally, it showca

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Compliance and Tax Considerations in Property Management Accounts Payable

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  1. Compliance and Tax Considerations in Property Management Accounts Payable Presented by EXO Edge

  2. 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

  3. 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

  4. 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

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