Jackson Jambalaya

Gallo - trans. English. - Rush Wannabe.

Obama: Not against small business. I think I am going to faint. Somebody get me a medic, bottle of water...

Paul, you should post under your name....:-0

I like Paul fine. I'm pulling his chain.

Did we ever find out "what happened " to David ?

If this will stop " off the books" goods and services, I don't object.

Much of that gets to be personal work that is unrelated to business operation.

Not all, but quite a few small businesses pad those kind of expenses at the expense of the taxpayer.

A kid's allowance can get written off as a business expense, for Pete's sake. Maid's work in the home gets written off as taking place at the business. Plumbers fixing the home toilet get put as a business expense.

Issuing a 1099 is no big deal particularly in the computer age. And, $600 done often enough by every small business in the country gets to be some real tax money that you and I end up paying.

It's like that $1 on your phone bill for something unrecognizable...do that 100000 times a month unchallenged and that's a huge profit windfall!

If this will stop " off the books" goods and services, I don't object.

Much of that gets to be personal work that is unrelated to business operation.

Not all, but quite a few small businesses pad those kind of expenses at the expense of the taxpayer.

A kid's allowance can get written off as a business expense, for Pete's sake. Maid's work in the home gets written off as taking place at the business. Plumbers fixing the home toilet get put as a business expense.

Issuing a 1099 is no big deal particularly in the computer age. And, $600 done often enough by every small business in the country gets to be some real tax money that you and I end up paying.

It's like that $1 on your phone bill for something unrecognizable...do that 100000 times a month unchallenged and that's a huge profit windfall!

About 10 years ago, I got a 1099 from Poets after playing a couple of gigs there. They paid with a check when everyone else paid with cash. What kind of mess will this create?

You own a small business. Lets see how this works.

Buy two computers at different times of the year? 2 1099s. Spend over $600 a year with ATT? 1099. Office Depot? 1099. have to fly several times that year, use different carries, 1099 for each carrier. Lease a copier? 1099. Lease office space? 1099. Buy some office furniture, you know, things like desks, chairs, conference tables: 1099 for each vendor over $600. Christmas party for employees and clients? 1099. Provide blackberries to employees? several of those will mean 1099. Then there are suppliers. Every one of them probably 1099. Need special software depending on your industry? 1099. Special publications for your industry (they can get real expensive): 1099. Just multiply it over and over and over and you have a nightmare for small businesses.

Oh, and suppose you are a restaurant like Char or Amerigo's. All those company dinners, banquets, etc. 1099's from all those customers. Olga had a ribbon cutting ceremony at her restaurant last week. Just that one night from one person, 1099. She is a small business owner. Her and her husband and that's it. What do you think all those 1099's is going to do to her? Oh, and for her, let me see, buys wine from wine store in town? 1099. Goods bought from Sisco, 1099. Anything bought from Kroger annually, 1099. Buys sound system from Best Buy so there is some music? 1099. Gets tv for Bar along with cable? one or two 1099's. and so on.

RE: “Issuing a 1099 is no big deal particularly in the computer age. “ at 8:55

No Big Deal? Really? Sounds like you have not issued (or paid to have issued) many 1099s. There’s more to it than just having a computer around. Please note KF discussion above.

Must mark you as “clueless” on this one.

this will be an accountant's nightmare!!!!!!!!!!!!!!No biggie to do 1099's excuse me. I think someone is running at the mouth without a clue....

Y'all are too funny! If 1099s are so hard for you, you really are lucky not to be bankrupt by now. Your accounting system is woefully inadequate.

You aren't still doing this by hand in a ledger are you?

How OLD is your accountant?

Evidently, 8:55 doesn't, and has never, run a business. This will be a MONSTROUS inconvenience and expense for the average small business! If it's no big deal to you, I'll ask you to come take care of that task for me......free of charge, of course!

let's say a solo lawyer with a chancery practice hires the sheriff's office to serve summonses and/or subpoenas in 30 cases a year (a very low-ball estimate if the lawyer has a steady stream of business) at $25 to $35 a pop----1099 to the Sheriff's office!!! Unless, of course, there is some obscure exemption for a county service that still costs lawyers and in turn, clients. Who are these freaks making this s#^t into law??? Any idiot could see this will never work. No wonder there's a tea party movement. We will all be on the gov payroll at this rate, and no, IT IS NOT A RACE THING. I am sick of people saying if you don't like BO's policies, it's because you are a racist. THAT is pulling the race card. I didn't agree with Bush's axis of evil theory, though I did vote for him. Those idiots who voted this ridiculous policy into law have never run a business, I don't care what color they are or are not.

Look people, there are computers now. You should already be recording your businesses expenses...ALL of them. If you are not, you are losing money and operating inefficiently. The computer will categorize the expenses by NAME, spit them out at the end of the year in nice little categories by name and ADD up the totals in EACH category.
Also, you are looking at ONE sentence without any information as to definitions for application...who is required to do this or what the existing 1099 law already IS and why.
You should have already been doing this.

Just because your computer can "spit out" 1099's with ease doesnt mean it is going to be easy for a small business to file all of these 1099's. They all have to be verified (any good business owner would do this), mailed (additional expense for postage and forms)& then you have to field calls from the business owners that recieve them. Not to mention the paperwork you have to keep on file to begin with. We do business with over 1000 vendors a year, this is going to be a MAJOR headache. We will have to get W-9 forms from each of them. This is not something the cashier at Kroger or customer rep at Entergy can fill out. Also, this means my business will be recieving hundreds of 1099's each year from people that do business with us, that we must then reconcile and file. For many businesses, this could mean having to hire an additional employee. Ridiculous!

RE: 9:12 - You haven't mentioned the time that will be required to 1) gather the Tax ID for each vendor; the time it will take to print them all out, the cost of printing them all out, the cost of postage to send them to everyone or the cost of the time of the person/people who will see to having all of the above is done.

Again...a COMPOOTER alone WILL NOT get the job done. You ARE clueless!

surely this burden and inconvenience to every business in the country is worth it to catch a few that aren't paying enough taxes.

JDBerry: yeah, and I can also see how it will directly lead to better health care coverage for the few who don't currently have it

Hire some kid at the Else School of Management for peanuts and they'll have it done for you in a few hours.
Yeah...crying over the bucks for mailing and printing...an ink carrridge, that ream of paper and over a 1000 charges on your postal machine.
Sorry guys, but have solved much harder business problems and accomplished far more difficult tasks for businesses than this. Our family business in which I was raised was far larger than most businesses around here and had international customers before that was common, so call me " clueless" all you want. Means nothing to me but others might decide to believe it. Repeat any foolishness enough and some will.

Hey 5:33PM, please take the spoon out of your mouth when you talk. It just sounds like gibberish.

RE: 5:33

Sounds like you were one of the half wits that proposed this foolishness. Logic and reality just mean nothing you your kind. Clearly you have more money than sense or, more likely...and as previously noted...you ARE just plain clueless.

Someone want to explain the "Else School of Management" to me?

It sounds like someone who dropped out, tuned in, didn't/doesn't pay attention, and in the end will find that life is pretty harsh when you have to face it without your parent's help.

Back on subject, this is an extreme burden on business. Just for kicks and giggles, do you know what the SOX regulations require of businesses related to reporting? Do you understand the amount of money that was spent to complete compliance? Do you even understand this? While your over-simplification (buy a printer, some paper, software, etc.) is astounding, your general understanding of business reality does not come through. I wish you much luck, I pray you seek counsel with others who know what they are talking about. I've always believed, the most successful I've ever been is when I surrounded myself with people smarter than me.

Oh and you "can't fix stupid."

The Else School of Management is the MBA program at Millsaps College.

Rather surprised such experienced and knowledgeable businessmen never heard of it.

Even more surprised that " Else" wasn't a hint.

I'm remembering telling lawyers years ago about Westlaw and being told such a thing was impossible...after all " millions of cases were being decided everyday in courts ALL over the world".

"Deja vu all over again" to quote Yogi.

Again with the gibberish. I guess thats what you get with an unranked MBA program. If you had a top 20 ranked MBA like me and the knowledge that Westlaw is already history, I might actually consider your dig somewhat witty.

11:58

Millsaps' MBA has been accredited for over three decades now.

That it is not ranked with huge university programs in the top twenty is not significant. If you actually have an MBA, you should know that.

IF you are actually a graduate of a top 20 MBA program , I would think you'd recognize some of the names at Millsaps, but maybe you did the compressed course work at Duke,Harvard or Northwestern. Others schools have similar programs but I'll give you the benefit of the doubt.

Me, I don't make assumptions about the backgrounds or education of those I don't know so I'll take your word that you are a graduate of...oh... Wharton...how's that? I'll see if I can find you among the Mississippians.

SOME Mississippians would be pleased to know that the Else program actually ranks very well nationally for those not comparing apples and oranges.

Some Mississippians have availed themselves of the resources Millsaps has to offer.

And,FYI, some our most successful young business owners have an MBA from Millsaps' Else School of Management.

But, you're right this is going to cost YOU a bundle in time and money without even considering stress related medical expenses and lost time. YOU won't even ask yourself what your alternatives might be...you can't...you already know everything there is to know. You don't have to continue to learn, or even think, you just have to react.

This is me reacting...Good for you.

Learned how to communicate in as few as words possible for more effective communication. Guess where?

A: Large multinational corporation. Not school.

I going to take a wild ass guess, a WAG as we call it...

James?

Hey Mr./Ms. Else visionary. Here's a clue: most anything can be accomplished (i.e. done), it's just a matter of how much of someone's time, equipment, materials you want to pay for.

In the private sector the question then becomes is the result achieved worth the cost (i.e. do you have more money coming into your pocket as a result of the effort? is it enough to warrant the cost?)

BTW, congratulations on that early call on WESTLAW.