LadyK8 11:06 AM 09-28-2014
I've only had my license since February of this year, and I'm extremely confused about the whole business taxes deal. Do I follow them quarterly or yearly?
TomCopeland 11:48 AM 10-02-2014
Originally Posted by LadyK8:
I've only had my license since February of this year, and I'm extremely confused about the whole business taxes deal. Do I follow them quarterly or yearly?
Most provider who are married don't file quarterly, because their spouse has enough withheld to cover taxes for both. Here's an article I wrote on this:
http://www.tomcopelandblog.com/2014/...-business.html
LadyK8 04:05 PM 10-02-2014
I'm not married. Is this a problem? I clearly missed the deadline.
Thank you, Tom.
284878 09:20 PM 10-02-2014
My sis has her own Housekeeping business and is single. She gets a return, how ever she still pays into social security. (Her client provides the supplies and she opts out of extra insurance, so she has less to deduct than you would think)
TomCopeland 01:02 PM 10-03-2014
Originally Posted by LadyK8:
I'm not married. Is this a problem? I clearly missed the deadline.
Thank you, Tom.
You will probably pay a penalty for not paying in at least 90% of the taxes you owe each quarter of the year. Go ahead and send in the 3rd quarter form (Form 1040ES) that was due September 15th. Paying late is better than not paying at all. You will owe about 20% of your gross income in taxes.
LadyK8 07:34 PM 10-03-2014
Thank you!
Is it okay if I message you if I need help with the form? This would be my first time filing my taxes by myself.
TomCopeland 02:35 PM 10-04-2014
Originally Posted by LadyK8:
Thank you!
Is it okay if I message you if I need help with the form? This would be my first time filing my taxes by myself.
The quickest way to get a response from me is to send me an email at:
tomcopeland@live.com