I'm ready fo start an ebay business, I'm filling for a reseller license, they ask me who will do my books. I will use quickbooks. do I still need a bookeper?
2007-01-30 08:11:05 · 4 answers · asked by Lucky 2 in Business & Finance ➔ Small Business
You should always get a professional to advise you on Business Tax issues, but you can perform the Bookkeeping yourself, if you are detailed oriented, organized, and willing to handle it. Many Tax Accountants use Quickbooks or can integrate the financial data into their system.
Depending upon your state, county, and city/town, you may need other business licenses. Do you need a Federal EIN? or are you filing the Business Federal Income Tax under your own Social Security number?
Are you working out of your home? If so, it may be in your best inerest to incorporate to protect your home against commercial creditors who can attach liens against it if you don't meet your financial business obligations. Best advice is to consult with your Tax Accountant.
2007-02-02 05:25:00 · answer #1 · answered by midnightlydy 6 · 4⤊ 0⤋
Item #1 - ditch quickbooks. It doesn't let you see what it is you are doing. You will need someone to do tax accounting for you and it will save you a lot of hassle and headache. If you submit that information every month, it also takes a lot of the headache out of the situation by taking it in smaller pieces rather than the whole year at once. Also, a tax professional usually works with or is a bookeeper, they can help you with structuring your expenses and cash flow to make the best of your tax situation. A good one will bill you according to the amount of work that is involved.
2007-01-30 08:18:52 · answer #2 · answered by Amy V 4 · 0⤊ 0⤋
No but probably an accountant to minimize your tax,
2007-01-30 08:49:32 · answer #3 · answered by Biz Guru 5 · 0⤊ 0⤋
Nope, it sounds like you're doing your books yourself.
2007-01-30 08:18:49 · answer #4 · answered by jseah114 6 · 0⤊ 0⤋