Yesterday I received an email from Congressman Lungren’s office advising that the Congressman would be introducing legislation in the next session repealing the requirement of filing 1099s on all business transactions over $600.
This clearly has a good chance of passage in the House with Republicans taking over the majority. Small Business California will be tracking this closely as we must get this repealed in 2011 as it is scheduled to take effect in 2012.
Thank you to all that responded to my email asking about small business attitudes about the future. I received well over 100 responses and the majority felt optimistic to cautiously optimistic.
About 30% planned to hire someone in 2011.
Most of the responses indicated that over the last couple of years you have been forced to do layoffs and depending on the industry revenues were down 10% to 50%.
Unfortunately one person said they would be going out of business in 2011.
We will be sending out our annual survey mid January.
Small Business California
2311 Taraval Street
San Francisco, CA 94116