How do I charge customers who pay by check 8.50 precent for taxes?

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How do I charge customers who pay by check 8.50 precent for taxes?

If I charge a customer 2.000 dollars for a paint job.What portion of that do I pay taxes on if paid by check in my companies name

2007-01-19 04:44:38 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

2 answers

Your company received the money, and the taxes will be based on your gross income. When you file your taxes you will total the amount of income received, minus expense, will equal net profit?

2007-01-19 04:50:51 · answer #1 · answered by D S 4 · 0⤊ 0⤋

What portion? Its best to call the Board of Equalization. But. I say the whole thing. 2000 times 8.5%. Oops! 8.5? Are we talking California or some place else? I think the highest rate in California is 8.25. I think. Call the BOE.

2007-01-19 13:02:11 · answer #2 · answered by Simple 8 2 · 0⤊ 0⤋