• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Gold Coin Sellers Angered by New Tax Law

No. But I see why you asked. That's Josh, my GSD. I adopted him from a woman who had 28 other show dogs. He was six and had never lived in anything but a dog kennel in a really fancy garage with the other show dogs. He won Best of Breed. She decided he deserved to live with a family B4 he left this earth, and so gave him to us.
 
This isn't taxing small businesses. A 1099 simply reports payments made. This is a loophole closed that is long overdue. Every taxpaying American should be delighted that others who've skirted by under the radar will now be cross-checked. The only thing better than this "good start" legislation would be an automatic withholding on those 1099's of 10%.

Why was it hidden in the healthcare bill?
 
Death by a thousand cuts. Is taxing small businesses like this really what we need right now?

so........they have to report as other businesses report? so what? and the guy who said he would have to pay 2 employees to deal with hte reporting can't be much of a business man....all it takes is a computer program.
 
If this was hidden in the healthcare bill, makes you wonder what is hidden in the financial deform bill. Maybe a tax on each pound a person is overweight.
 
so........they have to report as other businesses report? so what? and the guy who said he would have to pay 2 employees to deal with hte reporting can't be much of a business man....all it takes is a computer program.

Read the thread or the article. This is a new reporting requirement. Every business in America will have to send out thousands more 1099s each year.

Hmmm, think I'll go into the 1099 printing business.
 
so........they have to report as other businesses report? so what? and the guy who said he would have to pay 2 employees to deal with hte reporting can't be much of a business man....all it takes is a computer program.

You based this assertion on what?
 
Gee, I wonder where this idea came from....
 
Between this requirement and health care reform penalties, the IRS will have to double in size. Guess that's one way to help unemployment.

All ready taken care of.....

The Internal Revenue Service will function as the government’s chief enforcer for health care reform... monitoring both businesses and individuals to certify whether they have the insurance coverage the government requires.

The [IRS] will [monitor and enforce] compliance with the individual and employer insurance mandates... how and when health care is paid for, when health insurance is purchased... [and] minimum level of health insurance.... [The] IRS [will] monitor individuals and employers and punish those who do not comply.

Every individual and most businesses [will be] required to report to the IRS, on their tax returns, whether they have purchased or provided the required level of coverage and disclose to the IRS which months, if any, in which they failed to do so....

How will they accomplish these new job responsibilities? They will hire 16,500 new IRS agents, to be paid for with $10 billion of taxpayers' money, according to the Congressional Budget Office (CBO). The additional funding, which was not included in the bill's $940 billion price tag, will be necessary to carry out the IRS's new health care insurance monitoring and enforcement duties, says the CBO.


The sickest part of health care reform? The IRS gets bigger, on our dime

My bet is that somewhere in one of these other 2000+ page bills is even more funding or a new bureaucracy to track this stuff, but hey…… elections have consequences.
 
I'll tell that to the buddy on my hockey team who eaks out a middle class living that you think so. :roll:

I have my doubts that anyone who "eaks out a middle class living" selling Gold, actually ekes out anything but a very comfortable living, indeed obviously must do so if they are considered to be 'Middle Class'.
 
All ready taken care of.....



The sickest part of health care reform? The IRS gets bigger, on our dime

My bet is that somewhere in one of these other 2000+ page bills is even more funding or a new bureaucracy to track this stuff, but hey…… elections have consequences.

I would expect an awful lot more regarding various Tax hikes to be openly reported AFTER November.
According to Joe 'Buffoon' Biden, who asserts that we shall all be mighty surprised at the results of the 2010 mid terms.
 
I would expect an awful lot more regarding various Tax hikes to be openly reported AFTER November.
According to Joe 'Buffoon' Biden, who asserts that we shall all be mighty surprised at the results of the 2010 mid terms.

Knowing Joe 'floss your teeth with your shoe laces' Biden, he means the Republicans will take both houses. :mrgreen:
 
so........they have to report as other businesses report? so what? and the guy who said he would have to pay 2 employees to deal with hte reporting can't be much of a business man....all it takes is a computer program.

No it's much more ridiculous than that.

You're a traveling business person, over the course of the year you spend several thousand dollars staying at different hotels, any hotel chain that you paid more than $600 will require a 1099.

You buy food out at a chain restaurant, 1099 needs to be sent.
Buying plane tickets, yep another 1099.

It's a moronic and over complicated waste of resources for someone to do all this and to be within the law.
 
Back
Top Bottom