Sales Tax

[Flipperlady]

What year are we supposed to start taking in sales tax? Any thoughts about this from Texans (or anybody else but especially Texans
I was just reading Texas sent a bill to amazon.com today for $200M + for not sending them their tax money..... What we'll be doing is federal right?

Michelle

 

[TheLabGuy]

I've heard that the new health bill, okay, let me be pissy here, that Obama piece of steaming pile of human manure makes it where medical devices are federally sales taxable by 2.3 percent. Lets hope someone gets some brains in that town next month, but currently their is no federal sales tax. Their is however state sales tax on medical devices in 'some' states....not mine, so I can't comment further on the state sales tax. I can't wait till we have to do the 1099's......what a joy!!!!!!

 

[Flipperlady]

Yeah the health bill medical tax. I forgot when that starts and if it's 2011
I guess i'd better prepare. You'd think the dentists would be all up in arms about this and use their lobby power to put a stop to it..... That'll get costly for them and a real paperwork pain for us
BTW, I think we are in real trouble no matter who's in office. What we need right now is stability in government as our economy is very fragile and it won't take much to send it over the edge.

Michelle

 

[doug]

The 1099 didn't pass so we're safe for awhile

 

[Flipperlady]

The 1099 didn't pass so we're safe for awhile

Thanks, i guess I missed the memo, I was under the impression this was a done deal.
On a side note last weekend I started believing in ghosts after visiting a haunted civil war house :-0 and a couple of hours ago I was at Lowes home improvement store checking out a huge basket of plants in the garden center when the tornado sirens started going off and they slamed the gate shut and ordered everyone to the center of the store (which was the paint section BTW LOL!) I was going to leave but saw the twister and decided to stay put. Nothing puts life in perspective like ghosts and riding out a tornado in a store full of sharp instruments!

 

[kcdt]

One of the ways around the 1099 issue anyway is to pay vendors by credit/debit card. The banking record generated in cc sales satisfies the governments need to track income.
So, in reality, the 1099 would only need to be issued to those paid by check...

 

[wwcanoer]

Doug,

Are you sure? as when I googled it, couldn't find that info.

Did find this though: Section 1405 of the Amendment – Excise tax on medical device manufacturers: Sales of medical devices will be subject to a 2.9 percent national sales tax. This will apply to sales occurring after December 31, 2012.

 

[Flipperlady]

Thanks Doug and Canoer. This is why I take forums with a grain of salt when someone comes on and says ,"this is the new rule". There is always uncertainty around it and there is never an official organization willing to provide written proof other than vague wording we are left to figure out on our own. I hope this isn't going to be the case here.
Kenneth, is there a site I can read up more on credit card vs. check policy?
If this is the case and it is as simple as you make this sound then I may go credit card all the way.

Thanks,
Michelle

 

[kcdt]

Update: Beginning in 2012, taxpayers will be required to report payments made to corporations and payments made in exchange for merchandise. We will not, however, be required to report payments made via credit or debit card.
obliviousinvestor.com


The details to the new regulationóSection 9006ówhich dramatically changes the 1099 reporting requirement have not been finalized by the IRS yet. However, Commissioner Doug Shulman has said the IRS will provide small businesses with at least partial relief from this paperwork burden.

During a speech at the American Payroll Associationís convention, Shulman said "we plan to use our administrative authority to exempt from this new requirement business transactions conducted using payment cards such as credit and debit cards. These transactions will already be covered by reporting requirements on payment card processors, so there is no need for businesses to report them as well. So, whenever a business uses a credit or debit card, there will be no new burden under the law."
National Small Business Association

Apparently the IRS will require the processing companies to report directly, so in this case a 1099 from you is considered redundant paperwork.

 

[Flipperlady]

This so smells of banks paying some willing government official a little extra on the side because they know businesses will go for the credit payment to get out of the extra hassle . That said,count me as one of the willing participants!

Michelle

 

[kcdt]

I gave up on conspiracy theories years ago, I couldn't afford the monthly bill for enough foil to wrap everything....

 

[Flipperlady]

I gave up on conspiracy theories years ago, I couldn't afford the monthly bill for enough foil to wrap everything....

I think it's only your head you are supposed to foil. I was reading the military is coming up with a microwave zapper that can fry your brain via sattelite
no matter where you are. This is to be used on people who don't agree with
the government :-0 Foil hats would be useful in that they would start sparking when the microwaves start to hit them
Thanks for the info Ken!

Michelle

 

[JohnWilson]

I think it's only your head you are supposed to foil. I was reading the military is coming up with a microwave zapper that can fry your brain via sattelite
no matter where you are. This is to be used on people who don't agree with
the government :-0 Foil hats would be useful in that they would start sparking when the microwaves start to hit them
Thanks for the info Ken!

Michelle

Now this is pretty damn funny, I can see the general giving the order and shaking his fist at the monitor when the hat starts sparking. His head back and looking at the sky, fist in the air yelling Damn you Reynolds wrap, Damn you!!!!!