File a 1099 When You Buy A Computer? Yikes!


Tonight I’m researching 1099 vs. employee status for a client who plans to do some hiring, and I stumbled across this interesting tidbit at ehow.com.

The 1099 in 2012

Any vendor that you purchase at least $600 worth of goods from will be required to file a 1099 form come 2012. This means that if you purchase a computer for $600 or more from a store and pay with cash or a check, you will have to send that store a 1099 form. Credit card payments are exempt. And that store will need to send you a W-9 for your records.

Read more: IRS Rules for 1099 Filers at eHow.com.

What happened to the “Let’s Have Less Paperwork” Act?

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