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baybbuttrkup302 09:14 AM 11-16-2011
I bought Tom's Recording Keeping Guide Book. It does talk about filing quarterly taxes and also has SO much wonderful information! Buy this book. I read the entire thing again last night and make notations to changes I need to make for my filing system. I have been LOST the entire year so far with my files as far as having one place to put it all together so it makes sense to someone else, like the IRS. Although I've kept all receipts since March the first three months I have minimal other then the basics, food/utilities/checks/etc, plus I switched banks in March so I don't have a lot of expenses the first part of the year for that account. Although I have all my payment information. Out of anything I knew that was important.

Anyway, there are some exceptions to the quarterly/yearly taxes rule. Look on the IRS website but it's also in Tom's book. I had no idea about quarterly taxes until I read the book and saw some info on here about it. This is my first year in business and I do have an exception so I will be fine (SHOULD!) filing at the end of the year since I held another job and withheld taxes from that job for 4 months and I will also unfortunately have a loss for this year for my business, as far as I can see. So far my taxes won't be horrible unless there are penalties and I need to finish my inputting before I know what % tax bracket I fall under. We'll see how that goes. This was a real learning year for me! Next year it will be SO much better. Which I am so grateful for because in 21 days or less (I have a feeling it will be less, )I'm having my daughter (plus my 4yr old son) and know I won't have hours to spend every day working on paperwork and tax information on top of regular working!
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