There is a silly law requiring small Solano businesses to notify the IRS when they spend over $600 on a purchase. Critics say the silly business law is too intrusive for average small businesses.
The 1099 provision could force Solano businesses to issue 1099 forms to others they bought something for that exceeded only $600.
http://www.mainstreet.com/article/small-business/senate-repeal-burdensome-small-biz-law
Solano accountant Bill Wren, and tax account Leon Hillery both strongly advise Solano tax payers be careful with how they file their upcoming taxes. Solano government, plus tax collectors from Benicia, Dixon, Fairfield, Rio Vista, Suisun, Vacaville, Vallejo and Napa need tax revenue. Solano tax collectors have been known to look more carefully into how Solano small businesses are or are not paying their taxes. The same goes with the IRS. Best to be safe and find good tax loopholes.
Check out the other blog postings on this free Solano Business News blog for links to interesting financial sites (nothing warranted by blog).
No comments:
Post a Comment