Yeah, though that particular items is unlikely to survive. Congress tried to repeal that provision twice this year as it was generally realized to be a bad idea, however amendments to the small jobs bill by both Democrats and Republicans seeking to repeal/replace that provision were killed by a Republican-led filibuster. If the next Congress doesn't undo large parts of the health care insurance reform law, I'd expect a standalone bill to fix this issue. Republican's were in favor of killing this item but didn't want to let Democrats have an issue that was good for small business prior to the election.
Judah On Wed, Dec 22, 2010 at 8:21 AM, Jacob <ja...@excaliburfilms.com> wrote: > > And remember in 2012, all good and services.. including purchases from > stores like Best Buy. > > Buy $601 in computer equipment from Best Buy in 2012 and you need to 1099 > them. So now, you will have to get Tax ID number from all business you deal > with. > > -----Original Message----- > From: Scott Raley [mailto:sra...@itc-llc.com] > Sent: Wednesday, December 22, 2010 8:12 AM > To: cf-community > Subject: Re: 1099 for $150?? > > > i've been told under $499 doesn't need to be reported. At $500 goes on IRS > paperwork. > > On Wed, Dec 22, 2010 at 11:08 AM, Tony <tonyw...@gmail.com> wrote: > >> >> hey guys and gals. >> >> does it make sense to submit a w-9 to a vendor for $150 of work in >> 2009? isnt there some sort of "too small" for 1099? >> >> thanks >> tw >> >> > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:332821 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
