If you don't know anything about taxes then I would definitely get help. A business tax return is more complicated than a simple personal return.

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Rebecka Melson ~ Virtual Business Services

Originally Posted by wlugo

Thank you so much for the post! I have started my business last year and this will be my first time doing the taxes. Do you think I should do it alone or get help? I should mention that I have no clue about taxes, but I am willing to learn. Wendy

Just a thought for others that may happen upon this topic and have just started a new business:
It is best to get tax advice as soon as you start a business. This allows you to set a chart of accounts (if you use a bookkeeping software) or just learn what items are deductible to keep receipts or records in an organized manner so when tax time comes around you are prepared with the proper information.

Is this only entitled to people working in the states? or if I work for someone from the states it still applies?

I only work with U.S. contractors, so I'm not sure about all the rules, but maybe this link from the IRS website will help you.

http://www.irs.gov/govt/tribes/artic...185467,00.html

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Rebecka Melson ~ Virtual Business Services

Thanks Rebecka:

This is good information to know.

Brenda M. Violette
VBS Virtual Assist, LLC

Thanks Rebecka. I haven't actually started working yet, so these types of tax issues contribute greatly to being prepared!

Deanna

Great info, thanks.
Had no idea about the W-9 form

Gennia

Rebecka, you write such excellent posts! I enjoy reading them.

I have found that the IRS Form W-9 is so confusing for some contractors that I designed a Letter "in lieu" of form W-9. This is permissible if you capture all of the requested info from the IRS form.

I have found that people fill these in more accurately than the actual form W-9.
I have a sample on my website. Clients can also add their logo at the top, which looks really nice.

http://tools.asbinc.net/v/instructio...orm Letter.doc


Another A/P trick when collecting W-9s is to write 'Holding Check # 123 for $$$" at the top and unless they want 28% withheld, they will get fill out the W9!

thanks this very helpful information