Yes, the $600.00 limit is there, and transactions for more than that will require a Form 1099. Your CPA is not lying to you. That is old news. There is or was talk about amending (omitting) that specifically, or during a repeal of the whole darn thing, but neither happened and won't happen anytime soon.
Bottom line, your CPA is telling you the truth. It is still very much there. I have to imagine that rates for CPAs will go up this year, if for nothing more than weeding through that alone. CPAs are like you and me and everyone else, they expect to be paid for services rendered, and like you and me and everyone else, they should be.
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Today's Featured Article - Sunday Drives - by Cowboy. Summer was finally upon us here in Northern Maine. We have two types of industry up here, one being "Forestry" (Wood Products) and the other "Farming" (Potatoes). There is no shortage of farm tractors and equipment around here! I have been restoring old Farm Tractors for the past 6 years, and have found it easier and less expensive to hit all the auctions and purchase whole tractors for parts needed. My wife who works at a local school, and only has weekends and summers off, while on t
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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