I just started my event planning business in February. I am the creative mind, and I'm learning about the business aspect of things! Can anyone tell me any info about how to pay and file taxes for my business?
Thanks!
Tamara
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Actually, for most small business people, the New York Trust Business Owner Tax Plan is the most effective method. as it was first created in 1987, specifically for business people.
Followed correctly, it will eliminate tax on approximately, the first $91,235 of earnings.
Two of the many remarkable features is that children of the business owner, over age 6 and under age 18, can have IRA's and college tution funds, deductible from business earnings
This is a great post, which is why I have decided to feature it on 'The Business', a digital magazine featuring the best Small Business discussions and material on the BBWO Network. This is a new feature, so it is still being customized and I would love your feedback. Feel free to add comments on 'The Business' page. I've been wanting to set this up for a while now, especially after reading the responses I got from my post 'Putting the Business Back in BBWO.' As our community gets bigger, it is becoming a SPAM magnet, and I want to ensure that does not happen. We are experts in our own right with tons of info and experiences to share, which is what I want BBWO to continue to be about. If you feel as I do, great! Continue writing these wonderful posts and I will do all that I can to promote you and your business.
Quick tip: If you haven't already done so, feel free to include your web banner or business details at the bottom of this post. I hope that with the new Magazine page, more traffic will be directed to your way!
I am a tax professional of 15 years. You can find a wealth of information regarding tax and financial business matters at my site, Hardge Connections, LLC including some interactive tools and a link to all the State tax agencies.
However, just to give you some quick tips regarding filing and paying your business taxes, the form of business you operate determines what taxes you must pay and how you pay them. This link will give you further insight. Regarding quarterly estimated taxes, the due dates throughout the year are 1st installment due Apr 15, 2nd installment due June 15, 3rd installment due Sept 15 and the 4th installment is due January 15 of the following year. You should also request that the IRS send you the 2008 Tax Calendar for Small Businesses and Self Employed. Here is a link to the .pdf version. Another useful link is the IRS' Small Business and Self-Employed One-Stop Resource page. Find it here.
If you need any further assistance, I'll be happy to prepare an estimate for you as well as help you with any other tax needs. I specialize in working with home based businesses and I provide services Nationwide.
Tamara contact the Secretary of States Office- Corporate Division and they should be able to advise you regarding the fees and the specific forms to file.
It depends on the state. What state are you in? In the state of New Jersey, they offer payment online, usually quarterly. So you send in the information on the money you made for three months, the state calculates the taxes and you pay. ( I have to pay sales tax.)Of course, it may be different for your state.
Replies
going and get you a C.P.A. who knows the tax laws.
Actually, for most small business people, the New York Trust Business Owner Tax Plan is the most effective method. as it was first created in 1987, specifically for business people.
Followed correctly, it will eliminate tax on approximately, the first $91,235 of earnings.
Two of the many remarkable features is that children of the business owner, over age 6 and under age 18, can have IRA's and college tution funds, deductible from business earnings
Dr. Maguire
MaguirePhD@comcast.net
This is a great post, which is why I have decided to feature it on 'The Business', a digital magazine featuring the best Small Business discussions and material on the BBWO Network. This is a new feature, so it is still being customized and I would love your feedback. Feel free to add comments on 'The Business' page. I've been wanting to set this up for a while now, especially after reading the responses I got from my post 'Putting the Business Back in BBWO.' As our community gets bigger, it is becoming a SPAM magnet, and I want to ensure that does not happen. We are experts in our own right with tons of info and experiences to share, which is what I want BBWO to continue to be about. If you feel as I do, great! Continue writing these wonderful posts and I will do all that I can to promote you and your business.
Quick tip: If you haven't already done so, feel free to include your web banner or business details at the bottom of this post. I hope that with the new Magazine page, more traffic will be directed to your way!
Take Care,
LaShanda
.... keep sharing ladies for the interrupt
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I am a tax professional of 15 years. You can find a wealth of information regarding tax and financial business matters at my site, Hardge Connections, LLC including some interactive tools and a link to all the State tax agencies.
However, just to give you some quick tips regarding filing and paying your business taxes, the form of business you operate determines what taxes you must pay and how you pay them. This link will give you further insight. Regarding quarterly estimated taxes, the due dates throughout the year are 1st installment due Apr 15, 2nd installment due June 15, 3rd installment due Sept 15 and the 4th installment is due January 15 of the following year. You should also request that the IRS send you the 2008 Tax Calendar for Small Businesses and Self Employed. Here is a link to the .pdf version. Another useful link is the IRS' Small Business and Self-Employed One-Stop Resource page. Find it here.
If you need any further assistance, I'll be happy to prepare an estimate for you as well as help you with any other tax needs. I specialize in working with home based businesses and I provide services Nationwide.
Best of luck to you.
You take from it what you will.......
Fadia Ward
www.DaddyDontWantMe.com
CeeCee