Your Questions About Doing Business Online Taxes
Betty asks…
What is the fastest and easyist way for me to do my taxes and my small business taxes online?
I need to do my personal taxes, as well as my taxes for my small business taxes.
Note: Yes, I know I missed the Deadline.
Jere answers:
Go to http://finance.yahoo.com/taxes
Here your will find lots of info about tips, dates, guides.
I made it my homepage, and never mist another deadline.
Use tax Act (is free) or Turbo tax and dont miss the deadline next time.
Hope you find this site as helpful as it was to me!
Susan asks…
I would like to start on online business, what taxes do I have to pay?
I will be linking with businesses in other countries, and people can get online, lets say in the US and shop, their family in their home country could go to the participating store and pick up their product. I will charge a fee for that service.
Jere answers:
The Income earned from an online business is taxable. The operating structure of your business determines how much and when you pay taxes to the IRS. You may pay taxes electronically or use deposit coupons.
You pay self-employment tax for Social Security and Medicare tax payments and employment taxes if you have employees. Finally, you pay excise taxes if you are involved in certain types of businesses.
Thomas asks…
Online Business Taxes?
I am setting up an online clothing store.
I need help with Tax information
any general advice/info would be great
where would i be able to find FAQs about this kinda stuff?
:::For the state of TEXAS:::
how do I file my income/sales taxes?
how do I get a new tax ID?
is there a certain age you have to be?
Jere answers:
Here is a site from the chamber of commerce in Brownsville, TX that has useful information about new business including links for tax information.
Http://www.brownsvillechamber.com/business/startUp.htm
Hope this helps.
Good luck on your new venture !!
Tex
Ken asks…
How do I know how much I have to file taxes for an online business?
I sell things over the internet but I have no employee. I just want to know how much I have to file on my taxes in regards to my sales? I mean, do is there a sales tax charge on my online clients? Or I dont have to file these? Where can I get some information about this? Just any info in regards to online business taxation. thabks
Jere answers:
Sales to people in your state are subject to your state’s sales tax and you are required to collect it and render it to the state. Contact your state’s tax authorities for more information.
Any income generated is taxable as self-employment income at both the Federal and State levels.
Steven asks…
Question about Sales Taxes and Online Business?
I saw on the paypal website a checkout form today saying California residents pay a 9.5% sales tax rate. Why does california residents have to pay this rate?
Does a customer paying a sales tax rate depend on where the customer is located or where the business owner’s company is registered? How do I figure out the sales tax to charge my customers? Is there a sales tax applied if a person is purchasing a service–ex. hiring someone to type papers for them?
Jere answers:
Online businesses are supposed to charge tax on sales to customers in any state in which they have a physical presence. In your example, the seller must have been in California so they must charge sales tax to their customers in California.
The tax-ability of services varies by state.
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Superb blog you have here but I was curious if you knew of any forums that cover
the same topics discussed here? I’d really love to be a part of community where I can get suggestions from other knowledgeable people that share the same interest. If you have any recommendations, please let me know. Thank you!