It is a part of a massive bureaucratic addition to the business world. I checked our records....we will have to issue 3500 additional 1099's when required. Lots of additional labor, but the easy calculation is the stamps. At $.46, it will at just under $1700 to our cost to run our business. That is a lot to us. If you include the additional accounting, I could see soemwhere in the $2000-$3000 range. Just another burden to keep us from being able to hire employees.
Everything this administration does is a roadblock to growth....
Too bad future generations aren't here to see all the great things we are spending their $$ on!!
It is true its to go after taxes owed. It is also true that a lot of hidden stuff like this is hidden in these reform bills, with little thought to the effect on paperwork, accounting, hiring more compliance people and regulators (IRS army) etc. So Viking has it part right.
UNINTENDED CONSEQUENCES. Get used to hearing that.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
RenegadeCJ wrote: It is a part of a massive bureaucratic addition to the business world. I checked our records....we will have to issue 3500 additional 1099's when required. Lots of additional labor, but the easy calculation is the stamps. At $.46, it will at just under $1700 to our cost to run our business. That is a lot to us. If you include the additional accounting, I could see soemwhere in the $2000-$3000 range. Just another burden to keep us from being able to hire employees.
Everything this administration does is a roadblock to growth....
I agree it can be a big burden for a small business. My only point is it's not a tax increase. Unless you aren't reporting taxes you should legally pay.
Hopefully the IRS can join the info age and allow 1099's to be electronically sent. Or maybe that can already be done?
RenegadeCJ wrote: It is a part of a massive bureaucratic addition to the business world. I checked our records....we will have to issue 3500 additional 1099's when required. Lots of additional labor, but the easy calculation is the stamps. At $.46, it will at just under $1700 to our cost to run our business. That is a lot to us. If you include the additional accounting, I could see soemwhere in the $2000-$3000 range. Just another burden to keep us from being able to hire employees.
Everything this administration does is a roadblock to growth....
RenegadeCJ wrote: It is a part of a massive bureaucratic addition to the business world. I checked our records....we will have to issue 3500 additional 1099's when required. Lots of additional labor, but the easy calculation is the stamps. At $.46, it will at just under $1700 to our cost to run our business. That is a lot to us. If you include the additional accounting, I could see soemwhere in the $2000-$3000 range. Just another burden to keep us from being able to hire employees.
Everything this administration does is a roadblock to growth....
I agree it can be a big burden for a small business. My only point is it's not a tax increase. Unless you aren't reporting taxes you should legally pay.
"Enter the health reform bill. Last fall, as the debate raged over its projected cost, Congressional supporters of the bill began a desperate search for "revenue enhancers" to bring the net cost down -- and eliminating the 1099 exceptions for corporations and goods was seen as an easy way to bring in more cash without raising tax rates.
House and Senate staffers "essentially have a cupboard full of convenient revenue raisers that they can put into bills when they need it," notes Chris Edwards, director of tax policy studies for the libertarian Cato Institute. In the case of the 1099 changes, he says, "this was sitting around, the IRS wanted it and had testified in favor of it, and they needed a revenue raiser. This was just a convenient thing."
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
RenegadeCJ wrote: It is a part of a massive bureaucratic addition to the business world. I checked our records....we will have to issue 3500 additional 1099's when required. Lots of additional labor, but the easy calculation is the stamps. At $.46, it will at just under $1700 to our cost to run our business. That is a lot to us. If you include the additional accounting, I could see soemwhere in the $2000-$3000 range. Just another burden to keep us from being able to hire employees.
Everything this administration does is a roadblock to growth....
I agree it can be a big burden for a small business. My only point is it's not a tax increase. Unless you aren't reporting taxes you should legally pay.
Hopefully the IRS can join the info age and allow 1099's to be electronically sent. Or maybe that can already be done?
Which is exactly why we should move to a sales tax, instead of an income tax. Get rid of all the burden on business, and make it an end user sales tax. Release all that pent up $$.
Too bad future generations aren't here to see all the great things we are spending their $$ on!!
"Enter the health reform bill. Last fall, as the debate raged over its projected cost, Congressional supporters of the bill began a desperate search for "revenue enhancers" to bring the net cost down -- and eliminating the 1099 exceptions for corporations and goods was seen as an easy way to bring in more cash without raising tax rates.
House and Senate staffers "essentially have a cupboard full of convenient revenue raisers that they can put into bills when they need it," notes Chris Edwards, director of tax policy studies for the libertarian Cato Institute. In the case of the 1099 changes, he says, "this was sitting around, the IRS wanted it and had testified in favor of it, and they needed a revenue raiser. This was just a convenient thing."
A very slight minority of liberals have ever had the pressures of making a payroll - or better yet do the reporting of payroll taxes to the IRS, State, and Local governments. They don't have a clue what it takes to own and operate a business. They believe you can just put a sign on the door and the business magically appears. Oh course, many of the liberals have government funded jobs and they believe they are producing something.
Try to start a manufacturing business in Colorado (other than solar and wind) and see how difficult it is to set up, compete, and make any money.
Liberals believe they can go to school, get a degree, and because they some paper on the wall they should make $100K. The reality is that can....if it's a government subsidized job....otherwise, they don't do anything productive for society. I showed yesterday the list of the hack environmental group NRDC and how they extract a millions of dollars for the economy each year for their 300+ environmental anti-capitalist warriors. That's the kind of manufacturing jobs the liberal education produces.
RenegadeCJ wrote: It is a part of a massive bureaucratic addition to the business world. I checked our records....we will have to issue 3500 additional 1099's when required. Lots of additional labor, but the easy calculation is the stamps. At $.46, it will at just under $1700 to our cost to run our business. That is a lot to us. If you include the additional accounting, I could see soemwhere in the $2000-$3000 range. Just another burden to keep us from being able to hire employees.
Everything this administration does is a roadblock to growth....
I agree it can be a big burden for a small business. My only point is it's not a tax increase. Unless you aren't reporting taxes you should legally pay.
Hopefully the IRS can join the info age and allow 1099's to be electronically sent. Or maybe that can already be done?
Which is exactly why we should move to a sales tax, instead of an income tax. Get rid of all the burden on business, and make it an end user sales tax. Release all that pent up $$.
So you support a national sales tax, or VAT? If so, hopefully the income tax would be eliminated first, but I'm sure it wouldn't.
