Technically, it doesn't change our taxes. It IS a titanic shifting of the burden of proof, to an effective guilty until proven innocent with how these 1099's work. Getting reimbursed for things will become a pain in the ass, especially if the bank account monitoring eventually gets through. I will have to record and itemize every penny from every dinner with my friends, etc when that happens.
It's not like I have receipts for my purchase price of every card I've bought in my life. It's going to be a pain when, while being 100% honest on my taxes, I won't be able to prove it because I can't prove my profit on a card I bought in 1999 with cash at a show, if I remember the purchase price.
|