Small business owners: do you have any suppliers that you pay more than $600 to in a single fiscal year?  Will you be able to pay your accountant, bookkeeper more money this year? If not, will you be able to hire another in-house employee to “ramp up” your financial tracking?  Well, you may not have a choice!  Read on, taken from the US Chamber of Commerce site…

Of all the hidden costs now being discovered in the health care bill, one of the most concerning to the small business community is Section 9006…

This provision would require any business that purchases more than $600 of goods or services from another business to submit a 1099 tax form to the Internal Revenue Service. (Emphasis mine.) The mandate is to take effect in 2012. Included to help pay for the trillion dollar deficit created by the health care bill, this new tax is reported to raise $17 billion.

At a time when our economy needs small businesses to help our country grow out of this recession, saddling them with expensive new requirements and paperwork burdens only further hampers their ability to succeed and ultimately aid in our economic recovery.

Please write to your members of Congress now and tell them to co-sponsor the Small Business Paperwork Mandate Elimination Act.

Not sure what to say?  Or who to write to?  Click on this link to find a customizable template from the US Chamber of Commerce.  Your message will automatically be sent to the correct representative when you provide your mailing address.

http://budurl.com/votervoice

This could really “make or break” some of us…take steps TODAY to ensure you’re in business TOMORROW!