Business owners: Healthcare reform adds unnecessary paperwork

2/14/2011

While many business owners are enjoying the tax credits provided by President Barack Obama's healthcare reform bill, some are complaining that a part of it adds an unnecessary amount of paperwork to their already busy work lives, the Miami Herald reports.

One provision of the healthcare bill forces business owners to fill out a 1099 form every time they spend more than $600 with a vendor. The source notes that this is done so the government can keep track of taxable transactions, which helps to cut back the deficit.

"Working through a recession is tough, but adding to the burden with cumbersome and confusing new laws and regulations makes a recovery twice as hard," said Jerol Kivett, owner of the self-named furniture company Kevitt's Inc. in North Carolina. He recently testified in front of the traditionally conservative National Federation of Independent Business along with several other small business entrepreneurs.

Still, many business owners are in favor of the health reform. According to several insurance companies nationwide, small companies have purchased new plans en masse since President Obama passed the reform in 2010.