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Tax Question

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  • Tax Question

    Here is a tax question that came in from here.

    Ask the CPA.

    Q: Do you have to file taxes quarterly or yearly for lawn care?

    A: What type of tax are you referring to?

    If you are referring to payroll taxes, you have to file these taxes quarterly regardless

    of what type of business you have. If you are talking about estimated taxes, it just

    depends on how much of a profit you feel like your business is going to have at the

    end of the year. If you feel like your business is going to have a loss then you won’t

    pay any quarterly estimated taxes. If your business is showing a profit then you

    should pay estimated taxes on a quarterly basis.

    Thanks to Jackie Ralls for taking the time to answer it.
    Patrick Accounting and Tax Services
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