Clubfoothead Posted July 10, 2010 Share Posted July 10, 2010 So what? You have to generate 1099 on all payments of any nature over $600.00? They have this thing called Excel. I'd bet there's inexpensive software that will import fileds from Excel right into a 1099. I'm confused. They are supposed to be paying taxes on this $hit anyways. Now, there is a methodology for tracking this stuff because businesses are probably gaming the system. There are a lot of people around here that don't think we need new gun laws, we just need to enforce the ones we have better. What's the difference? Link to comment Share on other sites More sharing options...
rattsass Posted July 10, 2010 Share Posted July 10, 2010 So what? You have to generate 1099 on all payments of any nature over $600.00? They have this thing called Excel. I'd bet there's inexpensive software that will import fileds from Excel right into a 1099. I'm confused. They are supposed to be paying taxes on this $hit anyways. Now, there is a methodology for tracking this stuff because businesses are probably gaming the system. There are a lot of people around here that don't think we need new gun laws, we just need to enforce the ones we have better. What's the difference? The problem is that the govt. will eat up any money they gain pushing around more paperwork. Add that to the loss of business productivity having to do all this crap and it ends up just being another govt. madated clusterfluck. Typical. Link to comment Share on other sites More sharing options...
Avernus Posted July 10, 2010 Author Share Posted July 10, 2010 So what? You have to generate 1099 on all payments of any nature over $600.00? They have this thing called Excel. I'd bet there's inexpensive software that will import fileds from Excel right into a 1099. I'm confused. They are supposed to be paying taxes on this $hit anyways. Now, there is a methodology for tracking this stuff because businesses are probably gaming the system. There are a lot of people around here that don't think we need new gun laws, we just need to enforce the ones we have better. What's the difference? more paperwork + misplaced paperwork = failed audits.... Link to comment Share on other sites More sharing options...
gbpfan1231 Posted July 10, 2010 Share Posted July 10, 2010 So what? You have to generate 1099 on all payments of any nature over $600.00? They have this thing called Excel. I'd bet there's inexpensive software that will import fileds from Excel right into a 1099. I'm confused. They are supposed to be paying taxes on this $hit anyways. Now, there is a methodology for tracking this stuff because businesses are probably gaming the system. There are a lot of people around here that don't think we need new gun laws, we just need to enforce the ones we have better. What's the difference? Don't the IRS auditors look for this stuff if people are not paying the proper taxes? So now that it will be much easier to enforce and companies will be doing the extra work will we then have less govt workers or will they just become less effective? I am thinking the latter??? Link to comment Share on other sites More sharing options...
Clubfoothead Posted July 13, 2010 Share Posted July 13, 2010 The problem is that the govt. will eat up any money they gain pushing around more paperwork. Add that to the loss of business productivity having to do all this crap and it ends up just being another govt. madated clusterfluck. Typical. more paperwork + misplaced paperwork = failed audits.... Don't the IRS auditors look for this stuff if people are not paying the proper taxes? So now that it will be much easier to enforce and companies will be doing the extra work will we then have less govt workers or will they just become less effective? I am thinking the latter??? These responses are illogical and ignore the fact that companies are already supposed to be paying taxes on this stuff. Add to that if they were smart, they would be tracking all these expenses already. I know the tax attorneys that handle our firm require a reciept on every expense over $75.00 and have no matter what party is running the country - at least for my 12 years there. They mark it up under CYA. Administratively it is very mild. If your company can't handle that, what am I hiring you to do again? These companies are shirking their responsibilities to taxpayers like me every bit as bad as a welfare momma with spinners and a Bravia. Give me a break. Plenty of other things for you all to complain about. Should these things be taxed is at least debatable. Arguing against better enforcement of existing tax laws hardly seems like good use of your time. Link to comment Share on other sites More sharing options...
rattsass Posted July 13, 2010 Share Posted July 13, 2010 These responses are illogical and ignore the fact that companies are already supposed to be paying taxes on this stuff. Add to that if they were smart, they would be tracking all these expenses already. I know the tax attorneys that handle our firm require a reciept on every expense over $75.00 and have no matter what party is running the country - at least for my 12 years there. They mark it up under CYA. Administratively it is very mild. If your company can't handle that, what am I hiring you to do again? These companies are shirking their responsibilities to taxpayers like me every bit as bad as a welfare momma with spinners and a Bravia. Give me a break. Plenty of other things for you all to complain about. Should these things be taxed is at least debatable. Arguing against better enforcement of existing tax laws hardly seems like good use of your time. Okay, so this plan is estimated to bring in 13 billion in additional revenue. But how much will it cost to administrate? Any idea? Any idea how much administrative costs will be passed on to customers by small business already buried in paperwork. So what is the sum gain? Yet another hoop for small business owners to jump through, higher prices for consumers, and in all likelyhood, if I know our government, administrative costs will eat up most if not all of the gains. A giant pain in the ass that accomplishes little or nothing. Lets all give a rousing applause for our putrid reality show, Who Wants to Be Eaten Alive by bureacracy. Link to comment Share on other sites More sharing options...
Avernus Posted July 13, 2010 Author Share Posted July 13, 2010 Okay, so this plan is estimated to bring in 13 billion in additional revenue. But how much will it cost to administrate? Any idea? Any idea how much administrative costs will be passed on to customers by small business already buried in paperwork. So what is the sum gain? Yet another hoop for small business owners to jump through, higher prices for consumers, and in all likelyhood, if I know our government, administrative costs will eat up most if not all of the gains. A giant pain in the ass that accomplishes little or nothing. Lets all give a rousing applause for our putrid reality show, Who Wants to Be Eaten Alive by bureacracy. Club is the only person that I've come across that is actually trying to give good reasoning for this... he gets an E for effort, but if he can't see how annoying and pointless this is, then Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted July 13, 2010 Share Posted July 13, 2010 Link to comment Share on other sites More sharing options...
rattsass Posted July 13, 2010 Share Posted July 13, 2010 Yeah laugh it up while Mom & Pop get kicked to the curb. Funny stuff I'll tell you what... Link to comment Share on other sites More sharing options...
Avernus Posted July 13, 2010 Author Share Posted July 13, 2010 Yeah laugh it up while Mom & Pop get kicked to the curb. Funny stuff I'll tell you what... don't worry, Walmart will come to save the day.... Link to comment Share on other sites More sharing options...
WaterMan Posted July 13, 2010 Share Posted July 13, 2010 These companies are shirking their responsibilities to taxpayers like me every bit as bad as a welfare momma with spinners and a Bravia. I bet people on welfare wish they could write off fancy dinners. Link to comment Share on other sites More sharing options...
Rovers Posted July 13, 2010 Share Posted July 13, 2010 If this actually happens, I will likely fold up shop on my small landscaping biz. I have no employees, and my accounting system is manual, I'm really not computer literate enough to get it more automated. I already spend about 25 hours a month doing my billings, receivables and the maintaining the monstrosity of paperwork I have file for pesticide applications already required by the state. Filing taxes is already a nightmare. I don't have the time for this.... and I'm sure many others don't either. So.... I guess I have a year and a half to find a new job and sell the biz for whatever I can get for it. God bless America. Link to comment Share on other sites More sharing options...
caddyman Posted July 13, 2010 Share Posted July 13, 2010 If this actually happens, I will likely fold up shop on my small landscaping biz. I have no employees, and my accounting system is manual, I'm really not computer literate enough to get it more automated. I already spend about 25 hours a month doing my billings, receivables and the maintaining the monstrosity of paperwork I have file for pesticide applications already required by the state. Filing taxes is already a nightmare. I don't have the time for this.... and I'm sure many others don't either. So.... I guess I have a year and a half to find a new job and sell the biz for whatever I can get for it. God bless America. Where is the idiot who was laughing earlier? You gotta love it when someone points out that something could acually be a bad thing for small business owners and the lefty idiot laughs at the post. What a country. Laugh on lefties. Link to comment Share on other sites More sharing options...
Avernus Posted July 13, 2010 Author Share Posted July 13, 2010 If this actually happens, I will likely fold up shop on my small landscaping biz. I have no employees, and my accounting system is manual, I'm really not computer literate enough to get it more automated. I already spend about 25 hours a month doing my billings, receivables and the maintaining the monstrosity of paperwork I have file for pesticide applications already required by the state. Filing taxes is already a nightmare. I don't have the time for this.... and I'm sure many others don't either. So.... I guess I have a year and a half to find a new job and sell the biz for whatever I can get for it. God bless America. what pesticides do you use? Link to comment Share on other sites More sharing options...
gbpfan1231 Posted July 13, 2010 Share Posted July 13, 2010 These responses are illogical and ignore the fact that companies are already supposed to be paying taxes on this stuff. Add to that if they were smart, they would be tracking all these expenses already. I know the tax attorneys that handle our firm require a reciept on every expense over $75.00 and have no matter what party is running the country - at least for my 12 years there. They mark it up under CYA. Administratively it is very mild. If your company can't handle that, what am I hiring you to do again? These companies are shirking their responsibilities to taxpayers like me every bit as bad as a welfare momma with spinners and a Bravia. Give me a break. Plenty of other things for you all to complain about. Should these things be taxed is at least debatable. Arguing against better enforcement of existing tax laws hardly seems like good use of your time. Are you blind? So every time our small company buys something from Office max I now need to create a 1099 for them. EVery time I buy something from Dell I need to create a 1099 for them - I did NOT need to in the past. This is because nDell is not paying taxes on the PC's I buy from them? That is what I get from this law - am I missing something? If this is correct then please Club explain to me how me sending out two more (it will be A LOT more than two) does not cost me time and money? With the new postage hike there is at the minimum a cost to postage alone. At leats that will maybe mean the post office can hire two more fat a$$es to work at the post office that is not busy. Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted July 13, 2010 Share Posted July 13, 2010 Yeah laugh it up while Mom & Pop get kicked to the curb. Funny stuff I'll tell you what... U are a little late to the party... they already have. Link to comment Share on other sites More sharing options...
whomper Posted July 13, 2010 Share Posted July 13, 2010 Didnt the internet kill mom and pops at least 10 years ago ? Link to comment Share on other sites More sharing options...
Ursa Majoris Posted July 13, 2010 Share Posted July 13, 2010 Okay, so this plan is estimated to bring in 13 billion in additional revenue. But how much will it cost to administrate? Any idea? How much will it cost to administer? Nothing remotely close to what it brings in. Maybe a hundredth, if that. Probably closer to a thousandth. Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted July 13, 2010 Share Posted July 13, 2010 Didnt the internet kill mom and pops at least 10 years ago ? No the interweb killed the hair bands Link to comment Share on other sites More sharing options...
ljbrun Posted July 13, 2010 Share Posted July 13, 2010 ...So every time our small company buys something from Office max I now need to create a 1099 for them.... Not really. It cumulative, once per reporting period. Though I'm not sure if the fact that not everyone uses the same reporting period is going to make a difference. I assume you send the 1099's out based on your reporting period? Link to comment Share on other sites More sharing options...
gbpfan1231 Posted July 13, 2010 Share Posted July 13, 2010 Not really. It cumulative, once per reporting period. Though I'm not sure if the fact that not everyone uses the same reporting period is going to make a difference. I assume you send the 1099's out based on your reporting period? Yes we send out 1099's - we dump a spreadsheet out with a lot of records - we quickly delete all the records that are corporations and send 1099's to the rest. This sheet has 100's of rows and whenwe are done we are left with under 10 - but yea this is not extra work or effort or money. It is not a huge undertaking but to say that this does not cost time and money is very foolish. The part I don't understand is why am I doing the work to make sure that Dell is doing the right thing. Again, isn't this what IRS auditors are for? Link to comment Share on other sites More sharing options...
TimC Posted July 13, 2010 Share Posted July 13, 2010 Didnt the internet kill mom and pops at least 10 years ago ? I thought it was Wal-Mart, but I have trouble keeping up with what people blame their failures on. Link to comment Share on other sites More sharing options...
rattsass Posted July 13, 2010 Share Posted July 13, 2010 How much will it cost to administer? Nothing remotely close to what it brings in. Maybe a hundredth, if that. Probably closer to a thousandth. Well, get back to me when you have those figures. Right now the IRS is scrambling to figure out how they will be able to handle all this. I'm sure they will hire a ton of new employees to make this thing work. Then we can pay their inflated salaries and bail out their pensions when it becomes necessary. I guess I better shut the hell up and start toeing the govt line, those will be the only jobs left soon enough. Just remember it is not the entrepeneurs that made this country great, it is the government. Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted July 13, 2010 Share Posted July 13, 2010 Businesses shouldn't pay taxes they owe because it will add to the paperwork they have to do That might be the dumbest thing I have ever heard....ever. Club is right....for a small business to track their purchases over $600 would be a simple as me tracking mine over $5. Most businesses use credit to lines or credit cards to make their puchases. Software designed to flag purchases over $600 and move them to a worksheet for importation into a 1099 would be pretty simple. The whining sounds more like a bunch of lazy people looking to make lame excuses for not paying what they rightfully owe. Link to comment Share on other sites More sharing options...
rattsass Posted July 13, 2010 Share Posted July 13, 2010 Businesses shouldn't pay taxes they owe because it will add to the paperwork they have to do That might be the dumbest thing I have ever heard....ever. Club is right....for a small business to track their purchases over $600 would be a simple as me tracking mine over $5. Most businesses use credit to lines or credit cards to make their puchases. Software designed to flag purchases over $600 and move them to a worksheet for importation into a 1099 would be pretty simple. The whining sounds more like a bunch of lazy people looking to make lame excuses for not paying what they rightfully owe. Just a guess here, you have never ran a business? Link to comment Share on other sites More sharing options...
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