I should add that if our supplier could find the $$$ to buy an additional machine to produce that specific part, we would buy all of his production. Then, we could hire more people to put the device together and increase our production which our end customer is anxious to buy. Jobs and more jobs.
Of course, everything will soon grind to a halt while I pull all the records and get ready to figure and file thousands of 1099s for every vendor who sold me more than $600 of widgets. And then I’ll have to worry about the 1099s that my customers will be sending me! Certainly, I’ll be looking for a filing extension.
>>Of course, everything will soon grind to a halt while I pull all the records and get ready to figure and file thousands of 1099s for every vendor who sold me more than $600 of widgets. And then I’ll have to worry about the 1099s that my customers will be sending me! Certainly, I’ll be looking for a filing extension.<<
Sounds like that created a lot of jobs! ;)
On a related note, we call SOX the “IT full employment act”.