Contractor in the truest sense

[The Bob]

In the same way that a framer may frame homes for multiple builders, are there any commercial appraisers who appraise for multiple firms? I’m just curious as volume is significantly down where I am and I need to get creative.

With everything going on in CRE, how can you guys be slow?

commercial real estate loans coming due - Google Search

 

[Terrel L. Shields]

See the following list. If you answer yes to any of the 20 questions, the IRS can consider you an employee and not a 1099 contractor. My guess is that most 1099 contractors working in an appraisal office are actually employees, not contractors as defined by the IRS.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiJm56I3MqAAxXkMn0KHWuFCEwQFnoECBUQAQ&url=https%3A%2F%2Fwww.frostburg.edu%2F_files%2Fpdfs%2Fabout%2Fadministrative-offices%2Faccounts-payable%2Findependentcontractorirs.pdf&usg=AOvVaw0ha2ajXjftwLrtwOi0zoQ2&opi=89978449

Actually - a couple you would answer no. An independent can pick and choose their assignments and can work for others or for more than one appraiser.

 

[Mark K]

Actually - a couple you would answer no. An independent can pick and choose their assignments and can work for others or for more than one appraiser.

Yeah, some are not directly a yes/no answer but if any of them apply to you, you're an employee in the eyes of the IRS.

That list of 20 has been around for years, since before I came into business. Since I owned a real estate brokerage, I started out thinking that appraisers would fall into the same category as realtors but that's not the case. Realtors have a special exception to the rules. Any appraiser trainee is an employee but I 1099'd my trainee for years, like many others.

 

[DWiley]

Yeah, some are not directly a yes/no answer but if any of them apply to you, you're an employee in the eyes of the IRS.

That list of 20 has been around for years, since before I came into business. Since I owned a real estate brokerage, I started out thinking that appraisers would fall into the same category as realtors but that's not the case. Realtors have a special exception to the rules. Any appraiser trainee is an employee but I 1099'd my trainee for years, like many others.

I never could see a way around that list, which, as you point out, has been around for years. That is why our appraisers were always W2 employees.

 

[BRCJR]

A

He does a good job keeping me in the loop about the bid activity. I don’t think there’s much of anything he won’t bid on other than residential. It’s just so slow right now where we are in the southeast.

This may not be a good time to "go out on your own" if it is so slow an established firm is having a hard time obtaining work.

 

[RichMahagony]

Dont quit your day job LMAO

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