1099 Nonsense

[sd_boxster]

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!

[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it'll be repealed / amended.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.

[Burg Boxster]

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it'll be repealed / amended.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 That being said, team O'Carter doesn't want it repealed or amended b/c it'll set a precedence for repealing/amending other parts of the ill-begotten bill...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....

[jcb986]

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'....