Figuring out Tax laws and paying taxes

Discussion in 'Accounting and Taxes' started by Scrubber, Nov 14, 2012.

  1. Scrubber

    Scrubber
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    So I recently started a business and am trying to figure out what exactly my responsibility is to the government as far as taxes, paying into disability, workmans comp and such. Can I do it all myself or do I need to hire an accountant? Any advice is appreciated.
     
  2. Mark T

    Mark T
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    First thing that you can do on your own is checking out the details on your local government commerce and trade department. They will surely hand you out information about how taxes are used in your area or country and why is it important or you to do it.

    Next thing is to find a financial adviser or expert to help you out in understanding more of the situation. You don't need to hire an accountant right away. Again, try consulting a financial expert first.
     
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  3. Scrubber

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    Called my Chamber of Commerce and was referred to the local college. I have a free meeting with a business/financial consultant next week. Thank you Mark T.
     
  4. Mark T

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    That's good news Scrubber. Before that, what kind of business are you into anyway? Care to share to us? :)
     
  5. Scrubber

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    Commercial cleaning. It seems like a good business to break into with low start up cost and low demands on our time. We both have regular jobs plus we have kids and we don't want to try hiring for a while. Looking at business and doctors offices. Hopefully banks and industrial buildings when we get bigger.
     
  6. Mark T

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    Goodluck to you Srcubber. :) We hope that you succeed on your business venture. If you need help, you are always free to ask here at BAF. :)

    Regards,
    Mark T
     
  7. MoneyTrack

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    One other place that may be worth looking into is SCORE from the small business administration. That program offers retired executives that will consult with you for free or on the cheap (depending on your local SBA chapter). Just google it and you will find tons of info.

    Hope that helps!
     
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