Small Business Taxes

Resources and nformation about small business and self employment taxes.

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Old 12-26-2007
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Question How and when will you file your taxes this year?
Just running a quick poll on how each of us in the United States will be filing our taxes this year, and when?

Please mention the methods you will use for filing (e-file, accountant, tax prep service, do-it-yourself, etc.) and when you plan to file (immediately, next month, last minute, etc.) and any other special notations you'd like to add about your tax filing/payment preparation process.

Thanks for sharing!
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Old 12-26-2007
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Default Re: How and when will you file your taxes this year?
I hate this time of year.. TAX TIME!! YIKES I will be filing via e-file... As to when, that will be as soon as I get all of my info in from via my clients.. But I've been preparing all year, so I am in pretty good shape. It helps to stay organized with all the paperwork. Now it is as simple as just entering all the info in!!

Can't wait to be done
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Old 12-26-2007
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Default Re: How and when will you file your taxes this year?
I will be sending everything up to NJ to my accountant. I have no real income from clients but I do have a lot of right offs for the new business and accumulated losses from our business we closed down in NJ. I am in need of an accountant down here for the following year!
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Old 12-26-2007
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Default Re: How and when will you file your taxes this year?
I believe my husband and I will be finding an accountant very soon to help handle our taxes. This is the first year I've qualified to get a 1099 from any of my clients, and my husband's work is much the same. Neither one of us have ever dealt with business taxes, especially since we have a lot of write-offs, as well!

As for the time factor, as soon as my husband and I both get all our 1099's from the clients that require them, we'll file.
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Old 12-26-2007
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Default Re: How and when will you file your taxes this year?
I usually file mid-february, after I've received all my W-2's, 1099's, 1098, etc. Since this is the first year for my business, I will have my mom, who is an accountant, prepare my business tax return but I will prepare my own personal return. I always e-file and use direct deposit if I get a refund, because you get your money much faster that way.

I usually go to my mom's office and use their Drake software to prepare my return, I NEVER do them by hand, there is too much room for error that way. I tried Turbo Tax last year, but I didn't like it.

Tax filing tip: All tax preparers contract with a bank to be able to print refund checks at their office, which is faster than having the IRS mail you a check. If you have a bank account have the funds direct deposited directly into your bank account, because the IRS direct deposits for FREE and it takes the same amount of time as the preparer printing a check. If you get a check then what happens is instead of the IRS direct depositing the funds directly into your bank account they deposit into the preparer's account and then the preparer prints you a check through the bank they have contracted with, the bank fees for this are steep. If you do a direct deposit directly into your account and the preparer charges you a fee then they are ripping you off because the money is being deposited by the IRS and they do not charge a fee.
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Old 12-26-2007
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Default Re: How and when will you file your taxes this year?
Yes will take everything to the account. I have several write-offs from the notary business and other ventures. I hate the fact that I have to organize everything. Well, I don't but it makes it simplier for the account.
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