21 March 2012

Small Business News : New 1099-K

Must be my day for finding interesting infographics. Below is an infographic about the 1099-K, an new IRS form for reporting certain income, like sales on eBay, Etsy and Amazon of over $20,000.  IRS is hoping to collect taxes on rebates, class settlement payments, refunds and other sources of income that may be forgotten when tax time is here.

The IRS says the form will not be compared to returns, but hopes it will improve voluntary tax compliance.

I may fudge on deductions, but I claim every penny of income. I made up this rhyme to remember why: "inflate deductions, pay taxes and fine; under report income, serve federal time."

big news for small business owners 1099 K Infographic
Brought To By Outright.com


Equity Trading said...

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Jennifer Katherine said...

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joshuaty2010 said...

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Busy Boy said...

Thanks a lot for posting such an interesting article. I am sure that such business tips will be useful even in carrying out a camera mobile phone business.

Equity Trading said...

I never read find the information like it. This is so informative and good one like anything new.

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Small businesses are common in many countries, depending on the economic system in operation. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers, accountants, restaurants, guest houses, photographers, small-scale manufacturing, and online business, such as web design and programming, web development india

Unknown said...

nice post ,,, succes with advertising , that is look very easy , but i have practice that and very difficult . hahahah i wil try again .


Anonymous said...

Interesting infographic. Thanks for sharing.


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