HI guys we have a one year old small business a POOL SERVICE BUSINESS and we are due to do our taxes, I am a bit anxious because i am not sure how much small business have to pay back? do they make you pay the IRS a lot
2007-02-23 05:02:46 · 5 answers · asked by WellaTeam 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
we ar eincorporated, so its corporate taxes, an my husband does all the work.
and for the person that said not to cheat on my taxes who said i am looking to cheat, i just wanted more info since i dont know much but anyway thansk for your smartass answer anyway!
2007-02-23 05:11:46 · update #1
Alot of how much you'll owe depends on the type of business you registered.. Did you register? Are you a corporation? If so, will you be filing corporate taxes, or as a sole proprietor? Did you have employees? If so, you have to pay the employer side of their taxes (as well as both sides of the tax on your own income).... I would definitely recommend seeing a tax professional on this!
2007-02-23 05:06:18 · answer #1 · answered by Snoopy 5 · 0⤊ 0⤋
That depends on how much you made from the business after expenses. You'd be wise to have a CPA prepare the tax return, at least for the first year. Do NOT take this to someplace like H&R Block. If you or your husband do the return yourself, you could easily miss some things that a CPA would pick up on.
2007-02-24 15:06:30 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Usually you don't have to pay a lot, that is if you have kept very good records. As most business spend a lot of out of pocket money the first year, have loans or losses. All this should be in your records. What I suggest is that you get with someone prior to doing your taxes to insure you are taking advantage of all the deductions that available to small business.
2007-02-23 05:10:17 · answer #3 · answered by VLEEKS47 3 · 0⤊ 1⤋
all of us ought to pay taxes to take care of our way of existence. it fairly is our accountability. it fairly is the value we pay to stay in this united states. I do have faith we've a intense concern of attempting to do too a lot - extra beneficial than we could have the money for. I blame the ruling elites for that. Who has their hands out extra beneficial than they do to the government for this or that? no longer all taxes paid to the government is undesirable through fact some issues they do supply latest and destiny advantages to us taxpayers. we are all in this mutually. government can't artwork with out human beings's voices. we've intense issues. we've the final government that funds ought to purchase. this is an exceptionally intense concern! no person must be waiting to purchase government. Rallying against taxes isn't the respond. it fairly is rallying against corruption! look at the place your tax funds are going. we've room to cut back. all of us comprehend it. agencies desire an knowledgeable artwork rigidity. this is a priceless investment. It additionally cuts down on social issues. it is going to shop us down the line by potential of scaling down on crime, etc. agencies desire a healthful inhabitants so i think of many times happening wellness care is a dazzling theory. we desire it. suitable now wellness care expenses is a huge burden for agencies. Doing some thing extra effectual and diverse for retirement is yet another section that could desire to be looked at. it fairly is yet another burden for agencies. we desire extra jobs. Idle human beings = no longer reliable = extra expenses
2016-10-16 08:09:51 · answer #4 · answered by ? 4 · 0⤊ 0⤋
do not cheat the state or irs
you will regret it
2007-02-23 05:06:28 · answer #5 · answered by god knows and sees else Yahoo 6 · 0⤊ 3⤋