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Old 03-31-2004, 06:20 PM
Joanne Dahlin Joanne Dahlin is offline
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Rent as part of salary

I am using the Basic 2003 edition. We own an apartment building and as part of the salary for our resident managers we give them free rent of their apartment and pay utilties.

How do I enter this? In getting ready to pay quarterly unemployment taxes I believe I need to get this information into QuickBooks somehow.
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Old 04-01-2004, 12:55 AM
crazysonoran crazysonoran is offline
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Are they taxed on this? If so you can treat it similar to tips in/tips out. Basically put in the rent, tax them, take it back out. This would enable it to be taxed for unemployment and any other taxes you wished to apply. if not let us know and we'll see what else we can do.
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Old 04-01-2004, 09:36 AM
Joanne Dahlin Joanne Dahlin is offline
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As I understand it, they should be taxed on the rent (and possibly the utilities we pay on their apartment). For our regular tenants I have them set up as "customers" and do a statement charge and then receive their payments for their rent. How should I do it for our resident managers so that the taxes will be effective for the quarterly payments? I want to get it squared away before I do my quarterly tax reports and filings. Their "rent" has been included when we pay their workers compensation.

I am quite new to QuickBooks and also to having employees as we always did our own managing back in Minnesota. We purchased the building in September and chose QuickBooks to do the accounting for the apartment building.

Thanks for your help.
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Old 04-01-2004, 11:23 PM
crazysonoran crazysonoran is offline
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Hey you're almost local!

Since they are supposed to be taxed on it then it would be treated just like tips in/tips out. You put the rent in as an addition, tax it then take it back out as a deduction. There is a good section in the help for tips in/out.
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