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A Big Tax Victory for Small Businesses!

Buried in the Health Care bill was a provision that all businesses be required to issue a 1099 to any and all companies and individuals hired and paid more than $600 for goods or services.   The passing of this bill would have been an accounting nightmare for small businesses desperately trying to sustain and grow their business in the aftermath of the Wall Street debacle.

As a small business owner, I hope that this repeal marks the beginning of many successful tax reforms associated with the small business sector.

Small businesses, although struggling, continue to be the backbone of the US economy.  What small businesses need from our Legislators are tax incentives that reward entrepreneurs when we put people back to work and to remove administrative roadblocks that take us away from doing what we need to focus on right now  — growing our businesses.

Photo courtesy of: Alan Cleaver
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