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Overnight Open Thread

592
bellamags6/01/2009 7:19:24 am PDT

I am going to give everyone an update from the small business end of the economy: Most small business owners that I have talked to have experienced the same things over the past few months.

-IRS sending letters and notices for mistakes on tax “contributions”(even small ones) from YEARS ago. They want to be paid NOW and are charging interest from the date of the mistake. Mine was a payroll tax mistake from 06. Half of what I owe is interest. Do they really have to do this right now?

-Banks and credit card companies cutting lines of credit and increasing interest rates tremendously. I can’t order equipment or product unless I have the cash available right now. Great f*cking way to stimulate the economy.

-Increased theft from employees and customers. Weather it is milking the time clock or blatant theft of cash or product.

-Fierce competition from like businesses which force you to cut prices to maintain your current level of income. Which is essentially capitalism and I am all for it, but it is just getting ugly out there.

-Increases in power costs have not been adjusted since last year when the rates went up because of fuel costs.

-Vendors increasing their prices, I have to increase mine, pissed of customers, less purchasing by me and my customers.