How to prepare and get your taxes done.
1. Do regular bookkeeping or have a CPA do it for you.
2. Separate your personal and business. expenses. Super important and less messy
3. Pay as you. Pay taxes quarterly. You can be hit with a fine when your do your taxes if you don’t when you are making a lot of money.
4. Hire a CPA
5. Ask your account what deductions can you quality for.
- Employee payments
- Professional legal expenses
- Advertising expenses. The can include websites and travel
- Property: Home office, Supplies, Equipment, Phone
- Mileage and vehicle
- Startup costs
- Charitable contributions
Avoid audit traps
- Home office deduction
- Label each deduction
- Don’t touch payroll taxes
We are a LLC and tax as an s-corp
Keep tax related docs on file for 7 years