Scrollsaw Workshop Community -Please register to enable posting.
General Category => The Coffee Shop => Topic started by: jowshu98 on May 21, 2010, 10:58:06 pm
-
For those of us selling and maintaining a business I came across this today. It is definately worth reading as it has some big implications for us.
http://money.cnn.com/2010/05/21/smallbusiness/1099_deluge/index.htm?source=cnn_bin&hpt=Sbin
Don
-
The article talks about forms 1099. That's misc. income. If you're hiring someone in your business you'd have to give them one if you don't issue w-2 to them. On the other hand if you sell something to say a reseller you might get a 1099 from them. Generally, though I doubt many scrollers will be effected by these new tax laws.
....but then again, never say never.