Other stuff

Expanded 1099 reporting starts in 2012

SEE this post for Update!  

Reporting requirements for 1099s will soon expand dramatically.  From the Journal of Accountancy: “(b)eginning Jan. 1, 2012, virtually all payments by a trade or business aggregating $600 or more to any single vendor during any calendar year will have to be reported at the end of each calendar year to the vendor and to the IRS on Form 1099. Vendors include almost anyone a trade or business pays in the course of doing business, other than its employees whose compensation is already reported on Forms W-2.” – the full article is available online. …

Test for ethical behavior – what will this look like on the front page of the newspaper?

Update: Superb illustration of the concept here.

You have probably heard this story before, but I will mention it again.  When you are pondering how to handle a situation, think about how it would look on the front page of the newspaper.  Do you want to see this policy, decision, or personnel action on the front page of the Wall Street Journal®?  How about the lead article in the local section of the Los Angeles Times®? The front page of your local paper?  …