ForumsTaxes and Payroll

Pizza. Good luck as a new business owner. I am a Quickbooks Consultant in New York and have
clients all over the county. I would be very happy to talk to you (FREE at no charge).
I feel that every business person should have an Accountant, A lawyer and maybe even an Insurance Agent. Sometimes you have to spend money to make money (and sleep peacefully at night).
If you want to talk about Quickbooks e mail me at " pdeig@juno.com " and include a phone number.
LUCKIEST

I have a mult-owner LLC, my wife and I. I have kept pretty good record of all my sales and expense and paid all my taxes (sales, payroll, etc.) with help from Bank of America. I am also pretty good with taxes, have been doing my personal taxes. I am also familar with certain types of deductions. I guess I can buy the TurboTax and try it out. If it gets too confusing I can always find a CPA.

Thanks for the response guys.

This answer may be a little late since you posted your question in January, but if you are still wondering about the answer to your question, read on. I didn't see any comments about your LLC question, so here are some things to consider. First an LLC on its own is not acknowledged by the IRS. Based on ownership and other factors, it can be taxed as a disregarded entity, which means it will show up on your individual tax return. It can be taxed as a partnership, and it can be taxed as a Corporation or an S Corporation. Typically LLC's are taxed as either a partnership or a disregarded entity. Regardless, you will need to file a California form 568, and you must review the California minimum $800 tax and LLC fee based on gross income. LLC's taxed as either a disregarded entity or partnership generally trigger self employment income and thus self employment tax, if you have an operating business.

Anyway, there are some basic points to consider and things to watch out for. We service clients through out the US and we are located in Southern California. Let me know if you still have any questions.