Home › Forums › Restaurant Professionals Forum › Restaurant Professionals Forum › You need to read this if you spend more than $600 a year with a supplier › Re:You need to read this if you spend more than $600 a year with a supplier
If you are a sole proprietor, your social security number is your TIN. So I guess this means that you’ve got to give out your SSN to any other business that you do more than 600 bucks worth of work for. (serving at car dealerships, etc.)
And my proof of expense are my receipts, not issuing 1099’s to people I do business with so the federal government can make sure that they report the income.
I guarantee that whatever revenue they think they will get by this new law will be negated by the extra expense of hiring more IRS wrokers to process/audit/enforce and the fact that the people that were cheating will find another way to cheat and the only people that suffer are the honest ones. (as usual)