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View Full Version : Big Brother doing its best to smash business




furface
05-06-2010, 09:30 AM
Is there any reason to do any business in America anymore beside trading oil and cheap Asian goods to Americans for their creepy Bernanke Monopoly money? I don't think so. Good job, Obama and the corporatist Congress, you're doing a good job at carrying out the ongoing war against American business.

http://money.cnn.com/2010/05/05/smallbusiness/1099_health_care_tax_change/index.htm?source=cnn_bin&hpt=Sbin


Section 9006 of the health care bill -- just a few lines buried in the 2,409-page document -- mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

JamesButabi
05-06-2010, 09:33 AM
I ws infuriated when I heard this. Absolutely ridiculous. This is thousands of extra forms for my small business to process.

furface
05-06-2010, 09:39 AM
This is thousands of extra forms for my small business to process.

You really have a small business with thousands of vendors? It doesn't sound that small. Just curious.:)

But anyway, you're right it's absolutely ridiculous. Anybody who voted for it needs to be taken to task on this issue alone.

Abolish the IRS. That needs to be a top priority of any liberty candidate.

ChaosControl
05-06-2010, 09:41 AM
Yeah I heard about this a bit back, its annoying since I handle the 1099s for where I work. At least the software does most of the work...

Eryxis
05-06-2010, 09:42 AM
It's still easily a small business... It only takes 600 dollars to require a 1090, so 600,000 or more in sales could literally require thousands of extra pieces of paper to be processed. And I think pretty much anybody you talk to would consider $600,000/ yr in annual sales a small business.

Ery

*edit* for clarification you would be getting the paperwork from other businesses you sell to.

Tenbatsu
05-06-2010, 09:53 AM
As long as people continue to comply with these laws they will continue to throw on more tax forms and paper work. Of course when it gets to be too much they'll offer the RFID chip as the common sense alternative to ensure everything in your life is inventoried and itemized with little hassle.

The time for civil disobedience has come. If we continue to comply we will pave the way to our own destruction.

furface
05-06-2010, 09:55 AM
It's still easily a small business... It only takes 600 dollars to require a 1090, so 600,000 or more in sales could literally require thousands of extra pieces of paper to be processed. And I think pretty much anybody you talk to would consider $600,000/ yr in annual sales a small business.



I didn't mean to go off on this tangent, but I suppose when you think about it it could end up being 1000s. I write accounting software among other things, so I see vendor lists for my clients. When I look at them, they usually amount to 100 or 200 vendors. The thing is that they don't usually put down individual restaurants, hotels, car rental agencies, etc as vendors. What they're saying is that you have to issue a 1099 to all of these entities. It's completely unworkable if you ask me.

Not to mention the absolute invasion of privacy. Somewhere along the way government got it in its head that they can violate the 4th amendment when it comes to taxation and financial transactions. This idea hasn't been tested in the courts as far as I can tell. Somebody ought to.

Brooklyn Red Leg
05-06-2010, 12:48 PM
I may be missing something, but wouldn't this apply to on-line auction sites like Ebay? Would Ebay be required to 1099 all sellers who make $600 or more a year in sales?

Icymudpuppy
05-06-2010, 04:45 PM
Guess I'll have to start purchasing all my supplies in cash.