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How does this have anything to do with Healthcare?

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  1. archerace7 archerace7 is offline I watch the stats

    Tell City, IN
    United States

    Posts: 1,205
    Joined: Feb 07

    Jul 9th, 2010 (7/9/2010 3:29pm)

    Ok, so starting in 2012 I will have to issue a 1099 tax form to every vendor that I purchase more than 600 dollars worth of goods or services...this is crazy. It will cost me hundreds if not thousands of dollars in more accounting fees.

    At the trade show alone there are instances where we pay a couple of thousand dollars to get our booth brought in and taken down, every computer we purchase, we purchase more ink toner than that in a year.

    And it is a part of the Health Care bill.....Explain that one to me beyond the politicians in Washington just adding another layer of regulations on small business, so they can make sure they can check to see if any taxes are being missed...this is ridiculous

    Link http://www.usatoday.com/money/smallb...ing08_ST_N.htm
  2. tkeat1653 tkeat1653 is offline

    Philadelphia, PA
    United States

    Posts: 6,347
    Joined: Jun 06

    Jul 9th, 2010 (7/9/2010 3:32pm) in reply to archerace7

    you seriously think they will be able to efficiently track EVERY 1099 that gets sent?

    Pretty sure they don't track em now as is.
  3. archerace7 archerace7 is offline I watch the stats

    Tell City, IN
    United States

    Posts: 1,205
    Joined: Feb 07

    Jul 9th, 2010 (7/9/2010 11:21pm) in reply to tkeat1653

     
    Originally Posted by tkeat1653 View Post

    you seriously think they will be able to efficiently track EVERY 1099 that gets sent?

    Pretty sure they don't track em now as is.

    Exactly, yet I am going to have track all of those transactions, pay our accountant to make sure it is taken care of, and have one more opportunity to make a mistake and be fined.

    Except of course unless you use a business credit card to pay these purchases, because starting in 2011 credit card processors are required to notify the Gov. of any transaction you make over 600 dollars already. Geeze...Come on 2012 so we can vote these bozos out.
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