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hwt

Ready for your next red-tape nightmare?

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I don't see how this is any different from any other business in the United States. If you are claiming a business expense, you must have proof that can be audited. Every single business in America is supposed to issue a 1099 to vendors that have not provided a tax ID number if the amount paid during the tax year is in excess of $600.00.

This is absolutely nothing new. This is just holding agribusiness accountable to the law that has been on the books for years.
For the same reason I jump off a perfectly good diving board.

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It's not new? If you are claiming a business expense, a RECEIPT is your proof if you're audited. This new law buried in the health care bill is a massive burden on every business in America. 1099s only covered contract work, not purchases, in the past. As a business owner, I'm pretty pissed at this burdensome addition to the existing red tape.
(c)2010 Vertical Visions. No unauthorized duplication permitted. <==For the media only

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It's not new? If you are claiming a business expense, a RECEIPT is your proof if you're audited. This new law buried in the health care bill is a massive burden on every business in America. 1099s only covered contract work, not purchases, in the past. As a business owner, I'm pretty pissed at this burdensome addition to the existing red tape.



It sure does make it harder to get away with not paying taxes you owe doesn't it.:S:S

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Yea, what a joke, 1099's have been here as long as I can recall. Anyone working at most DZ's has gotten them forever. Is this the best you can do?



You don't seem to be able to understand the difference between materials and labor.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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We can agree to disagree.

Any payments made to a corporation are generally excluded. Also any payments you make using a credit card are generally excluded if the merchant set up the correct MCC.

The are some exclusions to the above exclusion list involving payment to Fishermen and Lawyers.

YMMV, but this is a tempest in a teapot. I have no problem with the government trying to catch people underreporting income.
For the same reason I jump off a perfectly good diving board.

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You don't seem to be able to understand the difference between materials and labor.



You don't seem to be able to understand what is reportable on a 1099, be it material or labor.

Payments for which a Form 1099-MISC is not
required include:Payments for merchandise, telegrams, telephone, freight,and similar items;
For the same reason I jump off a perfectly good diving board.

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You don't seem to be able to understand the difference between materials and labor.



You don't seem to be able to understand what is reportable on a 1099, be it material or labor.

Payments for which a Form 1099-MISC is not
required include:Payments for merchandise, telegrams, telephone, freight,and similar items;



I was audited 2 yeras ago.

. . . over 6 million in gross receipts that year.

Not ONE 1099 was required for materials purchased unless they were resold without modification, combination, or construction, of which I hads none.

1099s were only required to be issued for contract labor, and independant contractors without Federal Tax ID numbers.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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You don't seem to be able to understand the difference between materials and labor.



You don't seem to be able to understand what is reportable on a 1099, be it material or labor.

Payments for which a Form 1099-MISC is not
required include:Payments for merchandise, telegrams, telephone, freight,and similar items;



I was audited 2 yeras ago.

. . . over 6 million in gross receipts that year.

Not ONE 1099 was required for materials purchased unless they were resold without modification, combination, or construction, of which I hads none.

1099s were only required to be issued for contract labor, and independant contractors without Federal Tax ID numbers.




OMG.....

The TAX CODE CHANGED



OH THE HORROR

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You don't seem to be able to understand the difference between materials and labor.



You don't seem to be able to understand what is reportable on a 1099, be it material or labor.

Payments for which a Form 1099-MISC is not
required include:Payments for merchandise, telegrams, telephone, freight,and similar items;



I was audited 2 yeras ago.

. . . over 6 million in gross receipts that year.

Not ONE 1099 was required for materials purchased unless they were resold without modification, combination, or construction, of which I hads none.

1099s were only required to be issued for contract labor, and independant contractors without Federal Tax ID numbers.




OMG.....

The TAX CODE CHANGED



OH THE HORROR



OK- so I can expect a check from you, since you seem to agree with the change, to supplement the extra hours it will take to generate this paperwork, and the materials. I'll be sure to 1099 you upon receipt. I mean, yeah, the economy is so good right now that the cost should absolutely be justified, right?
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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Hmmm - I am wrong.[:/]

The exemption for not having to report payments to a corporation will be removed in January of next year as will the goods exemption. This does suck for everyone except Tax Preparers and Tax Software Companies.

For the same reason I jump off a perfectly good diving board.

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Last I checked..... there are many costs to doing business. So pay the piper.

The whole RENDER unto Ceasar passage comes to mind.



The whole problem is that I did not want this bill. I didn't agree with it . . . those that did should foot the bill.

When should I receive the money that you voted to spend for me?
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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You obviously don't own a business.

I think some of you just don't get it. If a business buys a new TV for the cafeteria, this new law will require them to fill out a 1099. If a business buys more than $600 in copy paper at Staples throughout the year, this new law will require them to fill out a 1099. The vendor will have to furnish and the business will have to collect TINs (Tax Identification Numbers) before submitting the 1099 to the IRS. Some vendors will have to submit their SSN's instead of TINs if they are a small business.

Paperwork nightmare. And please stop insinuating that anyone objecting to this new tax code is simply a tax cheat.


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OMG.....The TAX CODE CHANGED
OH THE HORROR


(c)2010 Vertical Visions. No unauthorized duplication permitted. <==For the media only

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Last I checked..... there are many costs to doing business. So pay the piper.

The whole RENDER unto Ceasar passage comes to mind.



The whole problem is that I did not want this bill. I didn't agree with it . . . those that did should foot the bill.

When should I receive the money that you voted to spend for me?



SUCK IT UP CUPCAKE...

People you did not vote for WON THE FUCKING ELECTION


Welcome to America

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Last I checked..... there are many costs to doing business. So pay the piper.

The whole RENDER unto Ceasar passage comes to mind.



The whole problem is that I did not want this bill. I didn't agree with it . . . those that did should foot the bill.

When should I receive the money that you voted to spend for me?



SUCK IT UP CUPCAKE...

People you did not vote for WON THE FUCKING ELECTION


Welcome to America



And my point continues to be made.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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Last I checked..... there are many costs to doing business. So pay the piper.

The whole RENDER unto Ceasar passage comes to mind.



The whole problem is that I did not want this bill. I didn't agree with it . . . those that did should foot the bill.

When should I receive the money that you voted to spend for me?



SUCK IT UP CUPCAKE...

People you did not vote for WON THE FUCKING ELECTION


Welcome to America



And my point continues to be made.



OK we get it.. you would like to greedily keep everything you can lay your hands on.... money... women..... what else?

The founding fathers sure had some interesting ideas that have fallen by the wayside. do you REALLY want to do the conservative thing and CONSERVE all of what America was in the late 1700's????????

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Last I checked..... there are many costs to doing business. So pay the piper.

The whole RENDER unto Ceasar passage comes to mind.



The whole problem is that I did not want this bill. I didn't agree with it . . . those that did should foot the bill.

When should I receive the money that you voted to spend for me?



SUCK IT UP CUPCAKE...

People you did not vote for WON THE FUCKING ELECTION


Welcome to America



And my point continues to be made.



OK we get it.. you would like to greedily keep everything you can lay your hands on.... money... women..... what else?

The founding fathers sure had some interesting ideas that have fallen by the wayside. do you REALLY want to do the conservative thing and CONSERVE all of what America was in the late 1700's????????



If you are so happy to turn your money over, then by all means, supplement my expenses for the burdens that you voted to require me to bear.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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And please stop insinuating that anyone objecting to this new tax code is simply a tax cheat.



I'm not sure that is the insinuation. The way I see it is we are asking honest taxpayers to bear the burden of catching dishonest taxpayers. I don't think anybody is accusing the small busines owner of cheating. I think the assumption is anybody who owns a business is rich and can afford to spend time/money helping the government find tax cheats. We know that assumption is wrong.

The only way to catch the cheaters is to put the burden on the source of the undeclared income, or increase the size of our bloated, ineffecient government. It sucks to be you, but it is much better for me to have you do it. The incremental cost to the product the small business provides is far cheaper to me than making the government bigger.
For the same reason I jump off a perfectly good diving board.

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You were good with your ellow Texicans WAR of convienience that cost us our economy. Why did I have to pay for that?????????


Welcome to America



That falls under the premise of protection.

Preventative measures like that are necessary sometimes.

In actuality, the mostly the entire country was behind it, or at least their representatives in the beginning.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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You were good with your ellow Texicans WAR of convienience that cost us our economy. Why did I have to pay for that?????????


Welcome to America



That falls under the premise of protection.

Preventative measures like that are necessary sometimes.

In actuality, the mostly the entire country was behind it, or at least their representatives in the beginning.



BULLSHIT

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