Attacking small business

Another flashback from 2008: legislation supposed to address the housing crisis contains reporting requirements for financial institutions on all clients doing more than $10,000 in annual aggregate business.  In other words, unless your business is really just a hobby, your bank has to report you to the government.  Do you think that just maybe this might have reduced small business growth since then?  Having the IRS descend upon you asking questions about your deposits when your still struggling to become profitable has got to be discouraging.

This entry was published Sat Jul 27 20:15:09 CDT 2013 by TriggerFinger and last updated 2013-07-27 20:15:09.0. [Tweet]

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