Thread: Administration's new tax proposal
View Single Post
  #2   Report Post  
Posted to alt.home.repair
Dan Lanciani Dan Lanciani is offline
external usenet poster
  
Posts: 130
Default Administration's new tax proposal
In article , writes:
| On 12 May 2009 19:11:29 GMT, ddl@danlan.*com (Dan Lanciani) wrote:
|
| | So the Geek Down The Street just tells me "yeah I'm incorporated" and
| | the transaction is completed as usual, after all the guy did have a
| | yellow pages ad. The onus is still on the landowner to actively "find
| | out" if they need to file a 1099?
|
| Maybe, but then this has always been the case for people making payments
| in the course of their business. I generally assume that if I make the
| check out to "Company, Inc." and the payee is able to cash/deposit it
| they are incorporated. Of course, with this change somebody needs to
| argue that renting is indeed a business and they should get rid of all
| those silly passive loss limitations.
|
|
| There are plenty of check cashing places that will cash any check that
| clears the "instant EFT" machine they have. They just want a piece of
| the action.

That would be annoying since I don't authorize any third-party EFT debits
on my account; however, I think there would be time to send the 1099 while
I decided whether to dispute the debit. Seriously, if this were a
problem the best solution would probably be to get a business account
to pay for business services. Unlike consumer accounts business accounts
can be set up to reject EFT debits so you don't have to dispute them after
the fact. To date the only ones I've found playing these EFT games are the
banks themselves, some utilities, and an insurance company.

Dan Lanciani
ddl@danlan.*com
Reply With QuoteReply With Quote