General Category > The Coffee Shop

New tax items to be aware of

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jowshu98:
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

budprine:
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.

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