to have ready(stuff i need to do) so that when tax time comes around, i will be prepared and can file taxes easily.
2007-05-19 08:46:48 · 6 answers · asked by Dan 2 in Business & Finance ➔ Taxes ➔ United States
Schedule an appointment with a CPA or Tax Accountant.
Save all of your "BUSINESS" related receipts for the purchases of goods and services for your enterprise.
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2007-05-19 08:51:58 · answer #1 · answered by JEDI MASTER YODA 4 · 2⤊ 0⤋
Make sure you keep track of your business income and expenses. I would recommend opening a business checking account and running all business activity thru this account.
If you don't have the cash to hire a CPA, you should neatly summarize your business income and expenses and take it to H&R block at tax time. They can prepare your tax return (and report your business income on Schedule C) relativelty inexpensively. However, If you expect substantial business profits, I would see a CPA immediately.
2007-05-19 22:41:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The IRS has wonderful resources for persons starting a business. Here is the main link for "Starting a Business."
http://www.irs.gov/businesses/small/article/0,,id=99336,00.html
In particular, check out the "Online Classroom" and Pub 4591 links.
You can also send for free publications and CDs.
2007-05-19 16:31:35 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋
Consult a CPA as soon as possible. They can help you set up proper record keeping for your business. Without proper records, no advise we can possibly give is enough. There is not enough space in this forum to assist you in setting up your business records.
2007-05-19 20:34:00 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
some one said to take your records to H&R block DO NOT DO THIS STAY AWAY FROM THEM AT ALL COSTS. seak a cpa or private EA for consulting services and tax prep and you will get some who is comptent to awnser your questions not the three week wonder of block!!
2007-05-20 00:39:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Become acquainted with an accountant.
2007-05-19 15:50:14 · answer #6 · answered by smiling_freds_biz_info 6 · 1⤊ 0⤋