I am a redneck man, with an old truck, who knows how to fix or make just about anything. I was recently laid off from my hydraulics mechanic position, so I started this business to make money to pay the bills. I did a lot of work for Ron Jackson, the meteorologist on channel 4 news in Dallas, TX, and since then I have become some what successful, kinda.
I went and opened a business account and my bank made me file for a EIN # from the IRS. Now I am freaking out about taxes, and what to do, and when. When do I pay federal taxes? On what do I pay? I barely make enough to cover operating expenses... Do I pay state taxes to Texas? On what? When?
I do not have an employee, and I barely make enough to keep the lights on and food on the table. I am contemplating buying Quickbooks or something, but I just do not understand what to do and when, and I bet I can not afford to hire a CPA. I tried to read the IRS web site to under stand what to do and when, and that made no sense to me. I'm just a redneck.
Anyone out there to who knows enough to help me understand what I need to do? Are there any resources for people like me with an old truck with a bad transmission, trying to make enough to feed his familly? Any help would be appreciated....
