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Taxes


General Business Discussions

A place to talk about general business discussions.
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  #1  
Old 01-04-2007, 10:47 PM
tiedeman
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How long does it take for you to get around and get your annual taxes done? Do you get it done as soon as possible or wait until the last minute?
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Old 01-05-2007, 04:01 PM
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I like to get it done asap. It's funny you should bring this up. The other day I was talking to a friend of mine who is so far behind he hasn't paid the 2005 year yet.

It made me wonder how many tax extensions can one have?
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Old 01-05-2007, 06:20 PM
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Wow! 2005 that is horrible.

I also try to get my taxes done by the end of January. My accountant makes it really user friendly as well. They send me every year a booklet to just fill in the spaces. Takes me maybe 30 mins. I then go in for a 10-15 min meeting, and everything is done. The only thing that I am waiting on right now is my wifes W-2.
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Old 01-05-2007, 10:00 PM
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When you put it off too long, it can eat at you and then it starts piling up with everything else.
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Old 01-05-2007, 11:22 PM
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I totally agree.

I also find that by getting them done earlier, the accountant has more time to spend with me in regards to my questions and concerns
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Old 01-08-2007, 04:34 PM
southernslang
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this would be my first year fileing, being self employed.
was i suposed to save money to pay uncle same or what how dose it work.haven't really colected taxes eather.
i save all my recipts for gas equipment and uniforms, but will i have to pay?
im just confused about the whole thing.
i have a relitive thats an accountent , but is kinda hard to catch up with these days,so i may be going to someone else to get them done.but just looking for some heads up on how it works.
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Old 01-08-2007, 05:56 PM
tiedeman
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Here is Michigan, with the federal and state taxes I always expect to pay in 35% of my net


Always prepare yourself to pay in taxes. Talk to an accountant as soon as possible in case you have to start putting money aside to pay



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