Generate 1099s for 2017 in AppFolio (webinar slides)

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2016 © AppFolio, Inc. Confidential.

Generate 1099s for 2017

January 2017

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Audio Check Select Telephone or Mic & Speakers

• Telephone – Dial phone number, access code, and audio pin

• Mic & Speakers – Make sure speakers are on and volume is up

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Ask Questions!

Type your questions in

the Chat box

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Hello!Jake Schlingman Training Manager

Breigh CavenderKey Account Manager

Q&A Panelists: Katie RudolphArezou GholamiKatelyn Surak

Today’s Presenters:

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Time: Approximately 45 minutes

Webinar is being recorded: Emailed to all registrants within 48 hours!

Blog: Find the recording and slides on AppFolio.com/blog

Details

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Agenda

● Materials needed● Helpful reports to send with 1099s● NEW! Owner consent feature

● Steps to download paper 1099s, FIRE file & share to Owner Portals

● DEMO

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End of Year Prep Poll #1

What have you done to prep for year-end?

• Purchased pre-printed 1099 MISC copies for IRS (if submitting paper)

• Created an account with the IRS FIRE system and gotten a TCC

• Verified Owner, Vendor & Management co. tax settings

• Recorded owner consent to only send 1099s electronically in AppFolio (if given)

• Nothing yet

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Materials Required to Generate 1099s

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FAQs

Can I print the 1096 or is it included in the FIRE file?

• AppFolio will only print 1099s. The system will not print 1096s, 1042s, etc.

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FAQs

Can you e-file with less than 250 1099s?

• The IRS requires you to e-file if you have more than 250 1099s. This means 250 1099s for your vendors and for your owners, combined.

• You can elect to e-file with any amount of 1099s.

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Submitting Paper 1099s to IRS

● Only an option if you are submitting less than 250 returns

● Must purchase 1099-MISC Copy A (for IRS) with 2 forms per page

● Purchase 1099-MISC Copy C depending on your state’s requirements

● Purchase on IRS website or most office supply stores

● AppFolio will not generate or print 1096, 1042, or any form other than a 1099.

2016 © AppFolio, Inc. Confidential.

e-Filing 1099s to IRS FIRE System

• Required if submitting 250+ total returns

• If e-filing, do not need to purchase 1099-MISC copy A

• Create an account with FIRE system & apply for TCC (if have never done before)

• AppFolio will generate the FIRE file for you to submit through FIRE system

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Reports to Send with 1099s

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FAQsMy owner would like to know what figures make up his/her 1099 total. Where can I

find this?

• Many of our reports will provide detail of the 1099 figure.

• The most common reports are the Cash Flow, Cash Flow 12 Month, Income Statement, and Income Statement 12 Month.

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Reports

• Cash Flow

○Run for tax year, includes YTD totals

• 12-Month Cash Flow

• Income Statement - 12 Month

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Generating Reports in Bulk

“Send Owner Packets” filters:

1. Date range = Tax year

2. Leave Owner and Properties blank

3. Select Show All Properties

4. Select desired report, e.g Cash Flow

5. Click Search

6. Click Preview links in results to download the PDF.

7. Click Email or Print to share the reports with the owners.

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Generating Reports in Bulk

Mid-year ownership changes:

• Create property groups

• Filter separately

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Owner Consent for Electronic

1099s

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FAQs

When do we need consent for sending 1099s and can we do this in AppFolio?

• You will need to gather written consent from the owner prior to filing your 1099s.

• We recently released a feature that allows you to post the owner consent form to the owner portal. The owner can approve this form and select their 1099 sending preferences directly from their portal.

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Record 1099 Sending Preference

• Paper & Electronic

• Paper only

• Electronic only

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1099 Consent Through Owner Portal

• Prepare consent form under Company Settings

• Share form to Owner Portals

• 1099 Settings link under Shared Documents tab

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1099 Settings in Owner Portal

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Example 1099 Consent Form

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Generating 1099s

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FAQsIf we started AppFolio halfway through the year, can we generate 1099s for 2016

from AppFolio?

• You can generate 1099s for the portion of 2016 that you were in AppFolio.

• You will also need to generate a 1099 from your previous software for the portion of the year when you were still operating out of that system.

• For your first year, you can add a 1099 balance forward for the vendors. This would be the figure that is recorded in your old system for the vendor.

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FAQs

Who do I contact about Accounting Questions?

• AppFolio is not able to provide accounting advice. Please contact an Accountant or CPA for legal questions regarding taxes and filing.

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Generating Vendor 1099s

1. Reporting > Reports > 1099s

2. Select Vendor, Tax year = 2016

3. Click Search

4. Send 1099s to Recipients (paper)

5. Download FIRE File or Download IRS 1099s

**Don’t forget to put your 1099 MISC forms in your printer before printing!

2016 © AppFolio, Inc. Confidential.

Generating Owner 1099s

1. Reporting > Reports > 1099s

2. Select Owner, tax year = 2016

3. Click Search

4. Share Electronic 1099s & Download 1099s

5. Download FIRE File or “Download IRS 1099s”

**Don’t forget to put your 1099 MISC forms in your printer before printing!

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Warning Messages

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Deadlines for Filing 1099s

Vendor 1099s Owner 1099s

e-Filing (FIRE file) January 31, 2017 March 31, 2017

Submitting Paper 1099s January 31, 2017 February 28, 2017

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Demo

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Recap

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Recap

● Gather necessary materials

● Generate helpful reports

● Record Owner electronic 1099 consent

● Generate 1099s!

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1099 Help Resources

Help & Training > Access Help Center

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Thanks!Any questions?

Please submit a support request through the Help Center!