MikeMaupin
LawnSite Member
- Location
- zone 6 eastern kentucky
I have been doing this line of work to make extra money and just this year invested 2 k into this business. I have not paid taxes in the past and have really not been legit as a business.I have grown and it has become a business instead of just some extra money.Noiw you guys can call me a scrub or low baller or whatever and I do want to do the right thing.I just want some help here.I talked to a friend about this who has and runs a heating and air business and he says he just keeps taxes out and then at the end of the year pays this and takes his earnings and tax money to his tax person.My question is is this right and can you do it this way or do you need a tax ID # ? How do I go about the paying of taxes ? Do I pay this quarterly or at the end of the year ? Please give me some advise and ways to do this. I really dont think I need an accountant, and cant afford one for that matter.What steps do I have to take from A to Z.Before it was no big deal because I was small, didnt make to much money and I wasnt about to pay taxes or anything on something that small, but now I am bigger and growing and its become a job now.The last thing I want is the tax man coming to my door or following me around spying on me. I want to do the right thing and be a legit business.Thanks