We go through hundreds of thousands of dollars in materials a year. (We own a remodeling-construction company.) These are materials/supplies that we buy retail/wholesale from incorporated companies and pay sales tax on. Currently, I just input the receipt as "Lowes" or "Amoco gas". I don't specify which branch. Now, I'm going to have to track down each and every company's tin, address, and owner for each branch that we buy materials from; fill in their info to Quickbooks, and then will spend even more time each week making sure which exact store we've purchased from than I already spend. And, then send out hundreds of 1099s. :tongue_smilie:
I have a feeling a lot of small businesses will get burned with this change. It will be easier for companies like mine to consolidate purchases to one big company in order to simplify tax reporting, rather than having to track down tins, owners, and mailing addresses of all the smaller specialty lumber yards, cabinet makers, moulding makers, gas stations, etc.