Make Connections

Network, Get Answers, Find Members in Your Area, and More!

Forums » Accounting & Financial Management

Handling Sales Tax on Home-Based Business Sales

    • 22 posts
    December 1, 2007 6:23 PM EST
    Check out your STATE BOARD OF EQUALIZATION site.

    I agree with LizardWisdom you NEED an accountant.  There are certain paths you can`t cut across and taxes is one of them.  If you get a good one they will be glad to answer your questions regarding any issue at any time.

    ---
    Louis Kiss
    http://www.grabitpack.com
    the ULTIMATE Gadget Holster
    http://www.clinchwallet.com
    The most PRACTICAL wallet available

    • 3 posts
    November 29, 2007 9:35 AM EST
    I`m starting a business out of my basement selling customized videos to people.  How do I handle reporting sales tax to my state (Kentucky - I don`t have to worry about local sales tax)?  Is it as simple as filing a sales tax return?  Should I just hire an accountant?
     
    Thanks.
    • 79 posts
    November 29, 2007 10:01 AM EST
    Often it`s just a form you fill out online. My monthly Illinois form takes about 8-10 minutes, so it really isn`t too bad. Honest truth, I wouldn`t hire an accountant just to handle that for you. (Though finding a good accountant is probably a good idea anyway.)

    ---
    Accounting Made Simple | Sole Proprietor Tax Guide

    • 31 posts
    November 29, 2007 1:06 PM EST
    Honest truth, I wouldn`t hire an accountant just to handle that for you. (Though finding a good accountant is probably a good idea anyway.)


    We can`t agree with PiperTax enough on this one! You should hire an accountant if you are going to be in business. It will take a load off of your mind knowing that the taxes/accounting is being handled properly.

    We have both a state and city sales tax we deal with. State is filed online. City is done via a two page form which we just copy the state stuff onto. VERY easy, once you do it a few times.