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    2 Replies Latest reply on Feb 1, 2009 6:16 AM by dublincpa

    Florida SMLLC Tax Question

    Davecore Wayfarer
      I was wondering if I start my business this February "2009" will I have to put the business tax info on this years Schedule C with my 1040 for 2008? I hope this makes since


      Also can anyone suggest a good program that will keep track of my personal and business budget and another program that will help me file my personal and Single member llc tax info and estimated taxes (taxed as a sole pro.).

      I wont need to file a state return only a federal right? for Florida/

      I was thinking Quicken Home and Business and TurboTax Home and Business? Anyone.
        • Re: Florida SMLLC Tax Question
          Davecore Wayfarer
          Well, I guess there is no answer for this?? Let me try to explain mor maybe?

          I start the business today, do I report anything about my business for my taxes I file in April? Or would I wait to file until next year?
            • Re: Florida SMLLC Tax Question
              dublincpa Scout

              You will not file Sched C until 2009 taxes are filed if you start business in 2009.

              The Quicken H&B is a good idea. I recommend getting some help to set it up correctly. Quicken and QuickBooks are easy to use once they are set up, but setting them up efficiently and correctly is not as easy.

              Well I don't want to sound like a jerk, but I don't see a way around it. This is probably one of the most basic questions there is with respect to taxes. I would say that TurboTax tax is not a good idea for you if you had to ask the above question. I am not trying to be condescending. Similarly if I intended to work on my car and asked a similar question on an automotive board, I would hope that someone knowledgeable would give me that kind of advice.

              There is a wide range of affordable tax and accounting service providers. This is an area where I would spend a little to get off on the right foot. Most business owners don't have time to learn enough to do a good job for themselves. I don't doubt your ability, but be please realistic about the time and energy you will be able to devote on top of your new business.