Small business 1099 form

Small biz applauds 1099 repeal

Crains New York business.com reports:

President Barack Obama last week signed a bill to repeal part of the federal health care reform law that would have required small businesses to file 1099 forms for purchases of $600 or more.

New York entrepreneurs are breathing a collective sigh of relief after President Barack Obama’s last week signed a bill to repeal a provision of the federal health care reform law. It would have required small business and real estate owners to file 1099 forms with the government for purchases of $600 or more.

“It’s very helpful,” said David Vinjamuri, president of ThirdWay Inc., a marketing training company in Manhattan. “My business outsources many functions to freelancers. It’s a hassle every year. Not having to track smaller payments and report them relieves me of extra paperwork.”

Mr. Obama on April 14 signed H.R. 4, repealing the provision of the Patient Protection and Affordable Care Act. The law was scheduled to take effect in January 2012

Advertisements

About Lawrence "Larry" Berezin

I retired from the private practice of law after a 35-year legal career and fight parking tickets for people like you and me. I love sharing valuable information, tips and tricks to help drivers beat NYC parking tickets.

No comments yet... Be the first to leave a reply!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s