Biden just endorsed a law that endangers 57 million jobs

washingtonexaminer.com ^ | March 9, 2021 | Brad Polumbo

[SirFishalot]

There are incredible tax advantages for those who are self employed filing Schedule C and form 1099s versus the proles who are employees receiving W-2s. —————— Guessing I really am gaming the system. Work for a Singapore company, paid through my Singapore bank which I have an ATM card. So no US income. No W2, no SSN used, or no 1099 at the end of the year. So quality for full Colorado unemployment as long as I’m resident in the state. Working from the US and earning foreign wages is probably the most tax advantageous. My annual Singapore tax bill was less than $750 for the year, on S$60000 income there, with no withholding.

If you are doing this on your own, you best hire a tax accountant, and probably a tax lawyer too, but quick. If you are doing this under the advisement of a tax accountant, get a new one ASAP. This one is going to get you into some serious trouble with the taxman.

[SisterK]

also, W-2s had been the same form for decades (not broken) and in 2020 it was totally reconfigured

[Russ]

Within a year Republicans, Democrats and Independents will be marching on Washington by the millions demanding Trump be reinstated as President. The Deep State sense it and that’s why all the National Guard troops are there.

[mewzilla]

The republic is dead.

Constitutional is whatever Deep State says it is.

[nanook]

Yea but still have to pay 1/2 of ur self employment tax.

[voicereason]

First thing that jumped into my head was the two lines from the song ‘We Are the Truth from Mushroomhead, “Your cooperation is commended,
Since the corporation demands it.”

The Dems have to disrupt the normal flow of things in order to enact their agenda. The problem with their agenda is that we are just mere pawns to be used to further their agenda.

Apparently the Dems decided 1984 was a do-it-yourself manual.

[dinodino]

Yes, Singaporean banks comply with U.S. law. He is definitely playing with fire.

[dinodino]

I’m not doxxing anyone. I’m telling you for your own good that your plan will work, until it doesn’t, and the day that it doesn’t will bankrupt you. You may want to consider Streamlined Disclosure. You will get one chance to come 100% clean, and only pay modest fines. If you fail to come 100% clean, all bets are off and you’re subject to the original penalties and fines.

[central_va]

Awesome!!!

[Article10]

It is till the 17th Amendment is repealed

[bert]

Biden is very old. He thinks that Big Labor is still a factor in American life.

He just can’t grasp the fact Big Labor just isn’t any more.

When he did come from the basement to speak, he frequently uttered the code word “Labor”

[DoughtyOne]

Thanks for the mention. I hadn’t thought of those folks. Good point.

Virtue signaling and unionization is more important than people’s lives and livelihoods.

These people are a wrecking ball to jobs.

[DoughtyOne]

That seems to be the case doesn’t it.

[DoughtyOne]

Yes, that does seem to be the case.

[DoughtyOne]

In California that has seemed to be the case. Now it seems to be spreading.

I just do not understand these idiot’s logic.

It’s about like shooting yourself in the head with a shotgun. You are somehow miraculously restored.

Then you do it again.

[BobL]

“Unconstitutional on its face.”

We threw out the Constitution when we listed to Lin Wood and boycotted the Georgia Senate Runoffs to ‘teach the GOP a lesson’ (despite Trump visiting Georgia twice to implore conservatives to actually vote there).

So, are there any other options for opposing this?

[SJackson]

I presume individuals selling items on EBay could become EBay employees. As could independent contractors in many industries. Sellers at regular established flea markets, employees. Good luck with this Joe.

[Mr. Jeeves]

Those aren’t “jobs” - because the Democratic Party has no way to extract its cut.

[Sequoyah101]

another bureaucratic stupid.

Add to that, you can’t just download some forms any longer or get them at the post office. You have to request them by mail from an IRS that complains all the time they are understaffed and covid restrained and a post office that does not deliver mail.

the feral gooberment is broken. We deserve better but we will get worse.

[Bernard]

1099-NEC stands for Non-Employee Compensation. It's an old form that had not been used since 1982; everybody filled in NEC in Box 7 on a 1099-MISC instead because it was easier to buy too many 1099-MISC's instead of buying too many MISC's and NEC's.

Now that the concept of a "gig" economy is gaining volume, the IRS apparently wanted to isolate or emphasize the NEC category. It will probably take a few years for smaller companies to stop reporting NEC on the MISC and use the NEC. (force of habit, and needing to change codes for the vendors. Sounds like a small deal, unless you are the one dealing with it.)

In regards to another sub-thread throughout this thread, free tax advice on the internet is worth every penny you pay for it.