If yes, how do I go about doing it and who should I talk to about my taxes?
2007-01-25 05:12:20 · 6 answers · asked by terrykat81 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
It depends if you have a corporation or if you are a sole proprietor. It's really best to have a CPA handle this for you, especially if you are new to it. Then you know it's taken care of properly and if there is a problem, your accountant is responsible for his/her work. Ask around to other small business people, your dry cleaner, plumber, etc. and see who they use and if they would reccommend anyone. Much better than just picking someone from the yellow pages. Good luck!
2007-01-25 05:24:26 · answer #1 · answered by Hozo 1 · 0⤊ 0⤋
Usually with a business you have a seperate number called an EIN = employer identification number. With this depending on your business type you will file a completely seperate tax for the business as if it were another entity. Then when you file your own taxes you will most likely write off business expenses and do a self employment tax sheet.
All of this depends on your business type. I think your best bet would be to talk to someone or you can even get some good info on the www.irs.gov website. As well as your states comptroller website.
Some more info. depending on your business you can do your taxes quarterly through out the year - it is easier than doing it all in one shot at the end of the year. Then you can also do your own personal taxes and use the info/ write offs and such on there
good luck
2007-01-25 13:26:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you have a corporation, you have to file separately. If you have a sole proprietorship, you can file on your personal return. Either way, I would highly recommend using a CPA who specializes in taxes. They will be in the phone book, or ask friends or business acquaintances who they would recommend.
2007-01-25 13:21:24 · answer #3 · answered by J.R. 6 · 0⤊ 0⤋
'Business taxes' are one thing, and 'personal taxes' are another, so they should be done 'separately' although you may have to do them 'side by side' to get all of your 'numbers' correct on both types of taxes.
As for 'who you should talk to' I think you should go to the IRS ... IN PERSON ... and tell them that you need 'advice' on your problem ... believe it or not, they actually have 'counselors' to help you with those things, and they are ABSOLUTELY FREE ... and with that you also get PROTECTION, because you've used them and not a 'hired accountant' and you stand much LESS chance of being 'audited' if you were 'honest' with them to begin with.
2007-01-25 13:33:01 · answer #4 · answered by Kris L 7 · 0⤊ 0⤋
go to a tax preparer and yes you can do them together
2007-01-25 13:24:30 · answer #5 · answered by edwarjd 3 · 0⤊ 0⤋
If your self employed it has to be done together but if it is a corporation (not sel-f employed) you can do them seprate.
2007-01-25 13:22:35 · answer #6 · answered by psychologist is in 3 · 0⤊ 0⤋