Here is a tax for ya!

My sister, a successful small business owner, actually read the bill/law and told me about this little surprise, right after the bill became law. It they think I'm going to prepare a 1099 for the lady who comes and cleans my house every two weeks, they can come and get me... The IRS won't have enough agents, even with doubling its staff, to ensure compliance...so come and get me.

Of course we're not happy about this. We use a lot of different vendors and motorcycle parts are expensive so we'll easily exceed that limit. I don't want to have to assign each one it's own budget line and have to deal with all that bs when I close out the year. I'm going to have to make sure that the companies I do taxes for have their budget lines straight, too, and I'm going to cost them more. Time is money. I still haven't heard how this will affect online sales when no sales tax is paid at the point of purchase.

The end result will be that simply more people will start doing work off the books. Any government rule, regulation or tax just increases the number of people who would prefer to do everything legal but decide it is now not worth it. More people will go to a cash only form of business and the government will lose revenue in the long run.

it's petty.but they're so looking for money,any money now,pretty soon they'll be taxing the kid with the corner lemonade stand.and it's always the fat cats pushing those bills through that have never been so broke they had to split a cup o' noodles with somebody.

A few years back I did some work as a sub contractor and it was the same back than anything over $600 bucks you had to have a 1099 for it so I don't really see where this is anything different other than maybe people weren't following it to begin with. I know if you win anything at a casino over like $200 bucks they also make you fill out a tax form also. So it's any purchase over $600 that just seems like more paper work.

I must agree with spalladino on this one: the IRS is our SS. Government by stealth is horrific. And it's so good to know that tax cheat Geithner is now so helpful in "running the show" even more than previously.

I am self-employed and I'm not to stressed by this. I don't make enough money to file taxes four times a year. If I did, perhaps I'd worry, but not for now. Then again, I am more in favor of healthcare and perfectly willing to pay more taxes to insure that more people get care! Good discussion!

Hiya laglen, Surely if they do get that through and it takes effect it will affect all the Small Business People all over the place. They are the very People we all need to start rebuilding the Castle of Cards that fell down some time ago. What on earth are they thinking about? From little Acorns do big Trees grow did they not learn that at School? They are the backbone of any Society. I don´t get it either. Something similar will happen here too it´s already being talked about when they said that they were going to help Small Business I wonder if that was their idea to mess them up instead? We have a President who is yes one Day and No the next Day after does yours do that too?

This is a blatantly hypocritical and dangerous assault on small businesses. Hypocritical, because the biggest tax scofflaws are federal employees - owing billions of dollars in back taxes. It will be an assault on small businesses that have neither the time nor the staffing to keep track of the paperwork. And some businesses will be cut out, as owners scale back their suppliers to avoid the extra work. All to garner a relatively small tax receipt. Mmm...mmm...mmmm....Barack Hussein Obama.