Vending to dispensaries and 1099s

[sanvanalona]

RMCG,
Thanks for the reply it was great! I think there are many things I would argue with you on, especially the twenties as being the economic model considering the roar of the twenties was immediately followed by the cries of the Great Depression, which I would argue was caused by the unequal distribution of wealth in the twenties and over-speculation by those with money, either way a poor example. Unfettered capitalism has always ended in catastrophe, look at fannie may and freddie mac, those in the business of war making, the healthcare industry, etc. I would love to talk in more detail about any of this, if you prefer you can pm me or maybe we can start another thread.

By the way sorry to take the thread off topic!

 

[motherlode]

motherlode

No you would not have to 1099 Costco. But if you take that raw cold food and then heat it, and make a meal for the Costco staff then charge them . Costco would then 1099 you for the amount of your bill. I tend to get 1099 from larger companies.

The 1099 is just a better paper trail for the gov.

I had a fence built on part of my property this past year. The cost was 4200.00 I am taking that deduction as an expense. I am not going to 1099 the fence builder but I could. If the new law were to take affect I WOULD HAVE TO 1099 him.

Also glad you could use some of the tax money I pay to go back to school. I for one do no feel bad for the big tax checks I write every quarter to the IRS.

Main reason is when I paid no taxes I had no money. The more I pay in taxes means I'm earning more money. Sounds backwards but it works for me .

The real rip off and often overlooked is how much one needs to pay to Keep you stuff. Other wise know as INSURANCE. I pay WAY more in insurance than I do on taxes. But again 30 years ago when I was broke I paid ZERO in insurance cost. If you own nothing its hard to be sued ( well have a judgment collected ) LOL

nc

I still fail to see the logic in a club giving me a 1099 for PRODUCT that they are going to sell but not me giving one to costco for product that I would sell if I was a restuarant

also Im pretty sure that 600 limit is for the year and not per transaction

 

[mrdizzle]

if my guy hands me a 1099 hes probably gonna get a foot to the neck

 

[RMCG]

RMCG,
Thanks for the reply it was great! I think there are many things I would argue with you on, especially the twenties as being the economic model considering the roar of the twenties was immediately followed by the cries of the Great Depression, which I would argue was caused by the unequal distribution of wealth in the twenties and over-speculation by those with money, either way a poor example. Unfettered capitalism has always ended in catastrophe, look at fannie may and freddie mac, those in the business of war making, the healthcare industry, etc. I would love to talk in more detail about any of this, if you prefer you can pm me or maybe we can start another thread.

By the way sorry to take the thread off topic!

'Unequal' distribution of wealth? You mean those that work harder, invest/risk more should still make the same as everyone else? Are you a communist? or just a hardcore socialist?

The great depression was caused by several factors, none of which was 'distribution of wealth'.

First off Germany debased their currency and caused hyperinflation. European debts became worthless and sent everyone's economies in to a tizzy.

HIGH income taxes on Americans. Those that USED to invest in business, growth, etc. held on to their money to shelter it (which is not what was done the 10 years prior during some of the greatest growth ever). We then decided to enact high tariffs (Smoot Hawley) (50% taxes) on imports into the US.

Weather/Drought in the Mississippi Valley indirectly contributed to economic hardship of many, but I suppose that was the 'rich guys' fault too...


I am glad YOU brought up Fannie and Freddie, Both of which are GOVERNMENT entities. This is not an example of 'unfettered capitalism', but a government agency making unsound BUSINESS decisions by lending to people that should NOT have gotten money. A private business would not have given out money as the 'investment' was unsound, but Fannie/Freddie are backed by the FED, so they have NO REPERCUSSIONS that a private business would (Bankrupt!).

Whats the problem in healthcare? That a brand new heart is expensive? Or a drug that cost millions to develop(not to mention the countless millions spent on research of INEFFECTIVE drugs) costs $100 pill?

My last post on this subject in this thread, unless it relates to 1099's.

Sorry OP.