Tax Advice

Discussion in 'Business Operations' started by NCL, Feb 9, 2004.

  1. NCL

    NCL LawnSite Member
    from NJ
    Posts: 132

    This question is for Full- Time Legitimate Business owners. Do any of you ever receive a Tax Refund or do you wind up haveing to pay the gov. and increaseing your quarterly payments. It seems to me if you increase your sales without overly increaseing your write offs you get a nice big tax bill. Can you actually make a profit on paper and not get rocked by the government?? Any thoughts or advice would be extemely helpfull. Thanks.
  2. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    We just increase our quarterlies each year and pay up any difference so not to get penalties and/or interest.

    Tax refund? You're kiddin', right?
  3. NCL

    NCL LawnSite Member
    from NJ
    Posts: 132

    rodfather, Yeah I was kiddin'/hopen. Just hopen to break even or not have to pay a large amount . Last year I got crushed by the gov. How long have you been in business? Does it frustrate you that every year you have to raise your quarterlies or do you take it as part of doing business and just deal with it?
  4. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    this year I am going to have to pay in BIG time

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