This week my assistant Bridget is enjoying a well deserved vacation to California. I am manning the office on my own this and have to admit I greatly appreciate her more and more each day.
This month I learned some interesting things:
1. If you are going to restructure your business, by firing a key employee, an employment and non compete contract in place, signed at date of hire, can make all the difference in the world. The only winners if you don't are the attorneys.
2. The internet continues to grow in use, popularity and the number source for finding your business telephone number. The internet has become today's yellow pages. Especially for anyone under the age of 35. The incredible beauty of the internet, especially Google is it is free. List Your Business on Google Add Photos, Hours & More. It's Free
3. The expiration of the Bush tax cuts on December 31, 2010 will become something of a Tax Tsunami. Here is a link to an incredibly eye opening article from Investor's Daily.
4. The old joke about how to tell when a politician is lying applies to the Federal Government's defense of the numerous Obamacare lawsuits. The President's vehemently defended the health care mandate portion of the bill for those who are not covered by a government approved health insurance and the penalties for non compliance as not being a tax. You got to love you tube. The tax discussion starts at 3:21.
5. Speaking of Obama Care say hello to a new IRS form: 1099 K. From David Frum at The Week.com:
Embedded in the new healthcare law, however, is a staggering requirement: using a new form — the 1099k — small businesses will have to start reporting all their purchases of goods from other businesses.
Did you rent a car or stay in a hotel? 1099K.
Buy ink and paper from Staples? 1099K.
Lease space in a local mall? 1099K.
Collect revenue from PayPal, eBay or Amazon merchants? 1099K.
And don’t forget to collect each company’s taxpayer ID number while you are at it!
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