i want to start a part time business.?

Question

What I need to know is about keeping up with taxes and making sure I am paying everything correctly. I cannot pay an accountant. Can software help with this? If so, which one?

Thanks.

Answer 1

You don't really need an accountant for small part time business. There are quit a few accounting softwares out there, you could google it. Or you could use google spreadsheet to do all your transaction keeping, then print it out by each of the end of month along with receipts and copy of statements hand it to qualified book keeper. Book keeper usually charge lots cheaper and save you from hassle doing all the paper work in details.

If you decided using spreadsheet and not technical oriented nor any knowledge of accunting, you could devided into columns: transaction title, account payable, account receivable etc. There are many expert in newsgroup could also give you a hand without require you spend a dime in software or hiring an expert on basic things.

Answer 2

Suggestion - at least pay a CPA for an hour or so of his/her time up front to show you what records you need to keep and how you need to keep them, and what taxes you need to pay, and how to structure your business. If you can't afford that much, you can't afford to start a business. And the advice you get could end up saving you far more than the fee in the long run.

Answer 3

Turbo tax is nice. Most public libraries have turbo tax software for free that you can use. Just make sure you are keeping up your books in excel or something like that. You don't want to fall behind on your books.

Answer 4

This video will tell you every thing you
need to know. You will be glad that
you watched it.

http://video.google.com/videoplay?docid=...

Answer 5

send the IRS about 25%. That's about it if you're single with no kids.

Answer 6

soft ware made by humans jubject to misstakes, get a old fashion adding machine , really.