So - where might I go to find state tax info in plain English? I resgistered my business as a Limited Liability Company in 2009, but I didn't actually start it as a business until last month.

I have these PA Corporation Taxes REV-857 Estimated Tax Payment thingies - one due on 3/15 and I haven't a clue as to what to do with them. I made no money from my business in 2009 (I only registered it as an LLC then because I still had a job - wanted to do it while I had postive cash flow!), and I have yet to get any clients this year - so still no positive cash flow.

Am I supposed to estimate what I might make this year and send them money? Does the federal income tax work this way too?

Yes, I'm a total noob and totally clueless when it comes to taxes.

Do I owe the IRS something in 3/15 as well, or will I owe them on 4/15? I've gone thru the IRS website and PA Department of State website and I've read their info, but I'm not any closer to knwoing what they want than I was three hours ago when I started reading all this crap.....uh, nonsense!

My brain hurts.

HELP! (please?!?!) :huh2:

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Lori http://www.solterravs.com

You should have been at the chat last night. This is what was talked about.

I don't have the answers. Well I do, but I don't know enough about it to give a good answer.

OfficeGoddess was the speaker last night. If you don't get an answer, you should send her a message.

Sorry you missed my chat last night! I'll try to help here...

I have these PA Corporation Taxes REV-857 Estimated Tax Payment thingies - one due on 3/15 and I haven't a clue as to what to do with them. I made no money from my business in 2009
You received these because you filed your llc with the state. Fill out the coupon with a Zero income and file it on time.

Am I supposed to estimate what I might make this year and send them money? Does the federal income tax work this way too?
If you have no current income, you don't owe a tax liability. If that changes between now and the next coupon, then you will need to make a tax deposit to the State and Feds.


Do I owe the IRS something in 3/15 as well, or will I owe them on 4/15?
You don't have to send them money. You SHOULD set up an account on the Federal EFTPS system and file a zero income on 04/15 for the prior quarter.

This help?

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

Woweee!!! That's more info than I could have ever gotten on my own! Thanks loads! Muchly appreciated.

Very sorry I missed the chat - with OfficeGoddess in charge, I know it was hugely informational and much, much easier to understand than the offical tax goobledeegook. I was in class - I take a seamanship class Monday nights, and may get involved with the Coast Guard Auxiliary in this area. I must pay closer attention to upcoming chats tho - I do forget about them, so I gotta start doing the sticky note thing on the computer to keep myself on track and organized.

I'm just thrilled I finally got started - I had gotten to a point of inertia because I was focusing more on what I DON'T know that what I DO know, so I was trying to make myself perfect before actually starting my business. Well. Ain't nobody perfect, so I finally said "Look out, here I come!". It's gonna be very lumpy at times (this tax thing being the most current lump) but dang, what an education I'm getting!

Again - many thanks for the big help! I know it won't be that last time - thank heavens for this forum and all the fab people willing to share their time and knowledge! Wheeee!

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Lori http://www.solterravs.com

Aw, shucks! Glad I was able to help! Let me know if you need more answers...

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

I am also very happy to have read this post. I just began the steps to opening the virtual doors to my va business.I recently my registered to LLC and this post gives me insight on what to expect.

mizbottley -

There is tons of great information on VAF that goes beyond just tax 'stuff.' Once you have access to it, check out the document library to find the 'Master List' which will really help you to get 'up and running' in good order!

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"