I need Tax advice!!

Discussion in 'Business Operations' started by aflawncare, Dec 6, 2013.

  1. aflawncare

    aflawncare LawnSite Member
    Posts: 56

    I am fairly new in business. I've been thinking about taxes lately. I really don't know anything about them. I'd like to here some knowledge or advice from some more experienced business owners. Some questions I'd like answered:

    1. What is tax deductible?
    2. Should I charge tax?
    3.Employee payroll?

    Remember, I'm new so talk to me like I'm dumb. I promise I won't be offended.
     
  2. vaacutabove

    vaacutabove LawnSite Bronze Member
    Posts: 1,006

    Get a CPA every state is different. Don't trust someone one line you don't know with something that could destroy your business.
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  3. aflawncare

    aflawncare LawnSite Member
    Posts: 56

    Hey thanks! I'll look into it.
     
  4. DEPENDABLE LANDSCAPING

    DEPENDABLE LANDSCAPING LawnSite Bronze Member
    Posts: 1,343

    Your accountant is your best friend, interview possible accountants and make sure they are straight shooters.
    Don't play games, you will get caught. Maybe not now but it will come.
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  5. shane-pa

    shane-pa LawnSite Senior Member
    Posts: 337

    the IRS small business guide is good start. it can be confusing but it should help some. to answer your questions though:
    1. business expenses are tax deductible. fuel, insurance, postage, cell phone bills, equipment repairs. the list goes on. depreciation can be the tricky part.

    2. charging tax? sales tax I assume. not sure about Alabama. in PA, mowing is taxable service. i had to get a sales tax ID number. you have to read the revenue code for your state.

    3. payroll. the IRS guide can help you with what is deductible. I don't have payroll but if I did I would pay a company to do it for me. then figure out what to deduct.

    During your down time, educate yourself, or talk to someone that knows. maybe you can trade services. lawn care for tax advice.
     
  6. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Posts: 3,331

    Some of the best money you will spend in business is to hire a good accountant.
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  7. jackal

    jackal LawnSite Senior Member
    Posts: 489

    Take some college classes in accounting and business management. Best decision I ever made was to go to college.
     
  8. Efficiency

    Efficiency LawnSite Bronze Member
    from zone 6
    Posts: 1,536

    Here or hear?
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  9. Middle Tennessee Lawn

    Middle Tennessee Lawn LawnSite Member
    Posts: 220

    I have a few suggestions since your in Alabama talk to suntrust bank they will do your payroll for you and file payroll taxes and do w-2s for 50.00 per month
    In Tennessee we do not charge sales tax on services so check with AL dept of revenue on that.
    Lastly find a good local CPA and let them show you how to keep the records that you bring to them. Mine has us keep everything seperated in four categorys by us doing prelimary work saves some money.
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  10. twomancrew

    twomancrew LawnSite Senior Member
    Posts: 940

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