51–60 of 172 posts
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Cool so where do I send the 1099 for SAMs club, Office Depot, and the restaurant down the street to? Will you come deal with the reporting discrepancies for me. I'll be getting at least 1000 1099's a year, will you deal with those for me? This is needless bueracratic bullshit to the maximum.
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I hate to break it to you, but a whole lot of people in the US don't have accountants and yet still spend more than $600 at various stores over the course of a year.
It's things like this that will eventually force me to move my business (and invariably, my employees) to another country. Why do they want to make it even more difficult for small businesses?
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Most small companies cant do it, but HN style companies can. Push fulfillment to Ireland, development anywhere. Let Ireland charge through the noose, and let the euros pile up in Switzerland.
I am a little concerned about this. While I do some consulting work for large companies and we do 1099s anyway, I also do a lot of very small projects (mostly helping other developers get started or get up to speed on something I know more about than they do). For these little jobs that are paid for via PayPal, now small customers need to do a 1099 with me - a hassle for them probably means not as many little 1 week…
As for getting paid for small jobs and paying people for small jobs, if you paid the person more than $600 in a tax year, you should have already been giving/receiving 1099s. The only difference with the new rule is that you'd have to give 1099s to vendors.
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another quote: "Rep. Dan Lungren, R-Calif., introduced legislation last week that would repeal the new 1099 requirements." Bottom line, a misguided attempt to improve income reporting and tax collection is going to be either watered down by the IRS or killed in congress. Maybe I'm a sad optimist, but to me it looks like democracy's still working well :-)
Democracy would be allowing the populace the time to read and digest multi-thousand page bills before voting, and not allowing totally unrelated sweeping changes hidden in bills. This has nothing to do with health care, whatsoever, in any way shape or form.
The health care bill was effectively implemented as a tax bill. The entire structure of the bill is a set of rules and initiatives set up to encourage businesses and individuals to get or provide health insurance through a series of tax raises and tax cuts.
The tax code is the mechanism through which this policy is implemented. I'd love to hear what other mechanism you'd prefer for implementing a health care plan. (And copping out by saying "it shouldn't have been implemented" isn't gonna fly)
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Dont pull that Patriot crap. Probably all the Fortune 1000, particularly the drug companies, are flowing revenue through tax havens to lower taxes. There was an article in the past couple of months about it, here I think. Most small companies cant do it, but HN style companies can. Push fulfillment to Ireland, development anywhere. Let Ireland charge through the noose, and let the euros pile up in Switzerland.
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Dont pull that Patriot crap. Probably all the Fortune 1000, particularly the drug companies, are flowing revenue through tax havens to lower taxes. There was an article in the past couple of months about it, here I think. Most small companies cant do it, but HN style companies can. Push fulfillment to Ireland, development anywhere. Let Ireland charge through the noose, and let the euros pile up in Switzerland.
New budgeting guideline - spend no more than $599 at any individual supplier.
Earlier quoted context omitted.
another quote: "Rep. Dan Lungren, R-Calif., introduced legislation last week that would repeal the new 1099 requirements." Bottom line, a misguided attempt to improve income reporting and tax collection is going to be either watered down by the IRS or killed in congress. Maybe I'm a sad optimist, but to me it looks like democracy's still working well :-)
Democracy would be allowing the populace the time to read and digest multi-thousand page bills before voting, and not allowing totally unrelated sweeping changes hidden in bills. This has nothing to do with health care, whatsoever, in any way shape or form.
This can't generate remotely enough revenue to offset the compliance cost to the business sector. This is nothing more than a Federal jobs program at the expense of the private sector.
Part of what they are doing is getting the system ready to put a sales tax on services. That will generate some serious revenue (or provide another effective mechanism to steal money from some people to give to other people, depending on your perspective.)