$600 Nightmare!
Printed From: CorrectCraftFan.com
Category: General Correct Craft Discussion
Forum Name: Off Topic
Forum Discription: Anything non-Correct Craft
URL: http://www.CorrectCraftFan.com/forum/forum_posts.asp?TID=18635
Printed Date: December-22-2024 at 11:02am
Topic: $600 Nightmare!
Posted By: BuffaloBFN
Subject: $600 Nightmare!
Date Posted: July-19-2010 at 3:00pm
|
"We'll have to pass this bill to see what's in it"
So buried somewhere in 2400 pages of the healthcare bill... 
From CNN: The 1099 changes attached to the health care reform bill are another kettle of fish. These massively expand the requirements for filing the "1099-Misc" form, which companies use for recording payments to freelance workers and other individual service providers. Until now, payments to corporations have been exempt from 1099 rules, as have payments for the purchase of goods. Starting in 2012, that changes. All business payments or purchases that exceed $600 in a calendar year will need to be accompanied by a 1099 filing. That means obtaining the taxpayer ID number of the individual or corporation you're making the payment to -- even if it's a giant retailer like Staples or Best Buy -- at the time of the transaction, or else facing IRS penalties. ------------- http://correctcraftfan.com/diaries/details.asp?ID=2331&sort=&pagenum=12&yrstart=1986&yrend=1990" rel="nofollow - 1988 BFN-sold "It's a Livin' Thing...What a Terrible Thing to Lose" ELO |
Replies:
Posted By: eric lavine
Date Posted: July-20-2010 at 9:42am
|
cash is still king ------------- "the things you own will start to own you" |
Posted By: 87BFN owner
Date Posted: July-26-2010 at 8:04pm
|
I will have to keep that in mind for 2011/2012 winter plowing season. Please tell me fuel will be exempt from this. YOu how many gas stations I will have to 1099. ------------- |
Posted By: TX Foilhead
Date Posted: July-30-2010 at 2:21am
| You might want to start using many different gas stations. This is a set up for the VAT tax, these clowns have been planning all this stuff for a long time and they realize they are running out of time to get it done (I hope). It's getting put into these bills that nobody reads and they figure out what is in them later. There is no telling what other things they have half way set up so they can come back to them and finish us off at a later date. |
Posted By: skicat2001
Date Posted: July-30-2010 at 4:08am
|
Hey be happy,
Mrs Horse lips and the "Magnificent" himself our taking another trip. Be thankful, its on the tax payers money. More taxes, more taxes, to come up with so the demo's dont have to pay there's...   ------------- 1985 CC 2001-SOLD Lee Michael Johnson |
Posted By: tullfooter
Date Posted: July-30-2010 at 10:40am
I don't do any cash transactions in my business, but I'm am starting to do it more often in my personal life. These bastards are finding ways to tax the life out of small businesses, and in the process, make it as difficult as possible to do business (paperwork up the arss). I just had a new engine put in one of my SeaDoos. I like the guy who did the work, so I paid cash. I know someone will pipe up and say everyone has to pay their fair share, but what is a "fair share"? I think an interesting way to revolt would be to pay cash whenever possible. We could be like the ice cream stand in my town; take cash, and write everything down on a scratch pad.  ------------- Play hard, life's not a trial run. '85 BFN '90 BFN White Lake, Michigan |
eric lavine wrote:Posted By: tullfooter
Date Posted: July-30-2010 at 10:42am
|
BTW
Eric, if I do send you one of my drop box transmissions from one of my fork lifts, I'll have to write a check, and 1099 ya. Unless it's under $600. ------------- Play hard, life's not a trial run. '85 BFN '90 BFN White Lake, Michigan |
Posted By: 81nautique
Date Posted: April-29-2011 at 6:33pm
|
Greg, You'll be happy to know this bill has been repealed.
Wonder what that cost us to pass a bill and then repeal it before it's even enacted, more useless waste of time and money. Un-Freakin believable AHHHHHHHHH. ------------- You can’t change the wind but you can adjust your sails |
Posted By: eric lavine
Date Posted: April-30-2011 at 9:57am
|
i had my ghost invoice ready for a guy yesterday, that is until he pulled and peeled out the white envelope...to the shredder! ------------- "the things you own will start to own you" |
Posted By: BuffaloBFN
Date Posted: April-30-2011 at 10:04am
Ain't that the truth. Seems like the old rectal-cranial inversion is the norm inside the beltway. Here's just one example...the big, bad oil companies are able to make nice profits on their work, while at the same time, our gov't makes more on a gallon of gas than they do for doing nothing, and they still can't stay in the black. Most every revolution in history started the same way. ------------- http://correctcraftfan.com/diaries/details.asp?ID=2331&sort=&pagenum=12&yrstart=1986&yrend=1990" rel="nofollow - 1988 BFN-sold "It's a Livin' Thing...What a Terrible Thing to Lose" ELO |
Posted By: eric lavine
Date Posted: April-30-2011 at 10:09am
|
those who invest in crude stock are happy, 401's IRA's???
tell you what, im buying a cache of silver, locking it in a safe thats how you make money. make a point to buy 1 ounce of silver a week and stash it, better than a savings account....I only tell my best friends this ------------- "the things you own will start to own you" |
Posted By: Riley
Date Posted: April-30-2011 at 10:10am
|
I'm glad they killed it. Seemed way too impractical to get W-4s from everyone from Staples to NAPA. Who sponsored it? ------------- |
Posted By: eric lavine
Date Posted: April-30-2011 at 10:11am
|
if you can afford gold, then buy gold...dont fcn sell it to these idiots on TV ------------- "the things you own will start to own you" |
Posted By: Riley
Date Posted: April-30-2011 at 10:13am
I got to hope buying silver at $40 to $50 an oz isn't a good long term investment. ------------- |
Posted By: eric lavine
Date Posted: April-30-2011 at 10:16am
|
they are buying it for a reason, i really think in 10 years gold will hit 5k an ounce, its at the 1500 mark now, and dont listen to your fianancial advisor, his work is based on commission ------------- "the things you own will start to own you" |
Posted By: eric lavine
Date Posted: April-30-2011 at 10:17am
|
the fck it aint, i was told many years ago that buying a house will be one of the best investments in life...how wrong that is.
allota silver in those electric cars ------------- "the things you own will start to own you" |
Posted By: Riley
Date Posted: April-30-2011 at 10:24am
|
Eric, no matter what it is, if it goes up fast, it's likely to come down fast when the bubble bursts. I don't know if it's a good investment or not. I think if it stays high, it's a sign of a lousy economy in the future. Housing was a great investment until it started appreciating 10% to 20% per year for about 5 years straight. At least you can live in a house. Seems the only good investments I've ever made were in myself. ------------- |
Posted By: eric lavine
Date Posted: April-30-2011 at 10:34am
|
your right about that, you said the key word "was" i wish i wouldve dumped 15 years of house payments into ounces. fck you can barely get 2 percent at the bank.
The housing market depreciated a helluva alot faster than it appreciated ------------- "the things you own will start to own you" |
Posted By: Riley
Date Posted: April-30-2011 at 10:55am
|
But where would you have lived and kept your silver? Our market has leveled off with 5% and lower mortgage rates. I can guess what's going to happen if rates start to rise, and I'm receiving a lot of emails saying there's a huge glut of foreclosers in the pipeline that we've haven't seen yet, so housing is still very risky from an investment standpoint. Maybe gold, silver and cash in the mattress is the way to go. Or old Correct Crafts. ------------- |
Posted By: eric lavine
Date Posted: April-30-2011 at 11:27am
|
rented, safety deposit box ------------- "the things you own will start to own you" |
Posted By: Morfoot
Date Posted: April-30-2011 at 12:33pm
All fine and dandy unless something happened to you and correct me if I'm wrong, but wouldn't the Gov get their cut of the contents of the safety deposit bow if it were over a certain amount. Wouldn't the Death Tax fall into place here? Your survivors would get screwed and have to pay taxes on the worth on the gold and silver you had in there. ------------- "Morfoot; He can ski. He can wakeboard.He can cook chicken.He can create his own self-named beverage, & can also apparently fly. A man of many talents."72 Mustang "Kermit",88 SN Miss Scarlett, 99 SN "Sherman" |
Posted By: eric lavine
Date Posted: April-30-2011 at 5:45pm
|
so you sqaunder all your life and worry about the taxes someone is going to pay on the money they didnt earn? coins at face value? a dollar is a dollar whether its silver or not..its in a safe and not at the bank ------------- "the things you own will start to own you" |