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Joined: Jul 2004
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Fortunately most of my 1099 work was for the state so my paperwork was more than enough to keep the IRS happy.

I could be generating up to 14 pages for every inspection I did if you included the copies (4 documents in triplicate and 2 more singles). I wrote a computer program to do it so it wasn't that horrible.

I was pretty used to good record keeping anyway with IBM. We documented our day in 6 minute increments and you had to account for all of it. You also tracked every mile you drove and every dime you spent, if you wanted to be reimbursed.
It turns out that is exactly what the IRS expects to see if you file a schedule C and they call you on it.

I was actually a little disappointed when I was audited because they never questioned any of it tho. It was really pretty underwhelming.


Greg Fretwell
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I've seen the exact same ad -- repeatedly.

I simply assume that once any fool gets hooked up with them... runs the math on his end of the 'deal'... and he bails out.

From what I know... and I'm surrounded by liars... the Big Company eats all of the damages created by an installation.

To the extent possible, they back charge the sub.

If this can't be done, the Big Company is back on the market trolling for fresh talent.

The REAL bloom in 1099 "independent" contractors (hah) is 0-care.

This is topped of by Workman's Comp -- which is not required by a one-man band.

&&&&

Sixty-years ago, there was a nationwide bowling craze -- with the advent of the practical automatic pinsetter.

Brunswick had total control of the installations -- and the refurbishment craft. They were still using highly inflammable lane coatings.

After enough lawsuits/ fires/ claims -- top management backed away. They literally set their old crewmen up as 'independent' contractors. (aka lane resurfacers) They even went so far as to, essentially, give their lane equipment away for zilch. (The parent company circa 1963 was as fat as Microsoft. They'd grown so huge that writing off the gear was a blip on the earnings screen.

Brunswick got its game back by super pricing the critical materials. They realized that that was where all of the profit and control was.

Today's cable companies -- all of them -- have figured out the same thing. They can get independent talent to accept sub-par wages AND duck all of the expenses of W/C and 0-care.

Both factors are still increasing faster than the generalize inflation figures that the government bandies about.

The same scheme is as common as dust in all European welfare states.

It's a running joke in Sweden/ Denmark that every parent hopes that the son becames an independent plumber! Those are the fellows driving around in BMWs and Volvos.(new!)

The current administration figures every trades man to be another "Joe the plumber" -- so audits of tradesmen have absolutely exploded.

They usually hit paydirt because of weak bookkeeping... not because the fellow was raking it in like a Wall Street hedge fund manager. (They pay a top rate of 16% !!! You read that right. Those fellows got Congress to give them a super duper top rate. They share the spoils by contributing LARGE to both parties. We have the best Congress that money can buy. If you troll the Web, you can discover their political contributions -- they are so huge you'd think they were misprints.)

The IRS hates auditing CPAs and tax attorneys precisely BECAUSE their records will be totally in order. So their paperwork dazzles -- yet the IRS still maintains that CPAs and tax attorneys -- (AND IRS employees) are the absolute worst for honest tax returns.

The 'system' goes for low-hanging fruit/ walk-overs.

Since we're destined to see even more IRS audits, be wise: keep your reconds squared away -- with particular emphasis on expenses -- especially the petty expenses paid in cash. Sloppy records will cause the IRS agent to reject your figures and jamb it to you.

E-commerce is destined to amplify everything detailed here.

European governments are ALREADY trying to ban / highly restrict the cash economy. 0-care has MANY provisions that pertain to purely tax law and tax records. These reach far away from the doctor's office -- to include tradesmen.

Most take the form of demanding ever more 1099s at strikingly low thresholds. This reality is still dimly perceived. Most citizens still think that 0-care was a universal health care statute -- where as it was really an over arching tax law.

Dr. Gruber -- of MIT -- focused all of his efforts on the tax angle -- and admitted so on camera, time and again.

His primary goal was to kill off Cadillac health plans -- which he deemed a sop too generous to the wealthiest.

It's ironic: the very title Cadillac health plan came DIRECTLY from the UAW. They were entirely launched by organized labor! They literally invented them -- for blue collar car assemblers.

Cadillac health plans never existed before. Truly weathy top dogs used to simply pay directly out of pocket. No health management company was ever going to design such a deluxe scheme -- with all of the pricing issues -- for a handful of millionaires. (Whose idea of a workman's comp claim is a paper cut to their dialing finger.)

Dr. Gruber holds the opinion that every one-man shop has been hiding his real profits by purchasing these super delux plans. This just goes to show how far off a professor can be.

Last edited by Tesla; 01/06/15 01:57 PM.

Tesla
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It's official: Now Bill Gates is leading the band for E-commerce!

So that's both MSFT and Apple.

And, 0-care tax provisions put the wind at their backs.

Keep your eyes on this breaking growth in Big Business and IRS electronic audits.



Tesla
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