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Small business taxes help?

Question: Small business taxes help?

(Posted by: Sm on 2009-06-16 19:23:08)

We have recently started a small business plumbing company which is an LLC. We don’t have any employees other than the two owners. As far as taxes are concered we are currently using all of the money we bring in to put back into the company. NOw that we are off the ground we would like to quit our “real ” jobs and start paying ourselves. My question is how do we go about handling the taxes? Should we pay an accountant or invest in a tax software program to take care of it all?


Posted by: T E on 2009-06-16, 19:40:26

Buy a tax software if one of you, or wives, are good at figures or have certain knowledge of taxes; otherwise, pay an accountant


Posted by: prescientone on 2009-06-16, 19:49:55

Use an accountant….they will provide far more advice and guidance and help you comply with all of the regulatory agencies….do the right thing


Posted by: Big Woof on 2009-06-16, 22:48:06

An accountant would be the way to go. Also, you should hire a good tax professional. You want to make sure the LLC is handled correctly before you start paying out cash to yourselves.


Posted by: Clarence G on 2009-06-16, 23:04:16

I have to confer with the previous answers already given. You would be wise to enlist the services of a Certified Public Accountant. Interview several and request references. Select one that knows his stuff and is there to help you, rather than just there to make money off you. Find one with experience and that is more interested in your welfare, and you will benefit from his experience and expertise.


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