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Old 10-19-2010, 07:33 PM   #1
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1099 Nonsense

Since it seems like many of you, like me, are business owners, I thought I'd mention the upcoming 1099 changes. As of 12/31/11, businesses will have to 1099 every company they purchase > $600 from. Staples, Office Depot, Kinkos, your ISP, your cell phone provider. If you're like me and you prepare your own 1099's, you have a nightmare to look forward to.

In other news, the IRS will also begin requiring "payment settlement entities" such as PayPal to begin filing form 1099-K, which I expect to demolish eBay, Craigslist, and all of the other really useful ways to find the things you need.

Thanks, Obama!
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Old 10-20-2010, 12:33 AM   #2
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it'll be repealed / amended. obama, dems and republicans all agree that it needs to be fixed but the dems and repubs were not able to agree to a fix yet.
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Old 10-20-2010, 04:34 AM   #3
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Originally Posted by tonycarreon
it'll be repealed / amended. obama, dems and republicans all agree that it needs to be fixed but the dems and repubs were not able to agree to a fix yet.
Yes, no maybe so... Yes, MOST recognize the fault and undue burden this will put on ALL businesses. It's "intent" was/is to help identify tax shortages on underreported income to help pay for utopian healthcare so we've been told. That being said, team O'Carter doesn't want it repealed or amended b/c it'll set a precedence for repealing/amending other parts of the ill-begotten bill... Thus why ALL the bums in Washington (Red, Blue, Green, Whatever) need thrown out ASAP and we need to start setting term limits.

and discuss....
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Old 10-20-2010, 04:45 AM   #4
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Yes, yes, and if that dosen't work we can use our Red/White/Blue Boys...the Military to throw them out. That's what I call a Term Limit for the bumbs'....

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