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4/1/2020 6:58:51 AM
Posted: 1/9/2005 9:14:44 PM EDT
[Last Edit: 1/9/2005 9:17:45 PM EDT by kblagg]
I need some help figuring how tax withholding for my business.  I need to find out exactly which taxes(federal, state, self employment, medicare, etc). I'll need to withhold from each paycheck.  Any recommendations on any payroll software to make it easy to figure out and to make sure I dont screw it up.

edit:  Also any recommendations for any kind of business management software to keep up with sales, margin, etc and possibly able to do payroll that doesnt cost an arm and a leg.

I was thinking about quickbooks.
Link Posted: 1/10/2005 4:07:08 AM EDT
Link Posted: 1/10/2005 4:59:21 AM EDT
kblagg,

Well, it depends.

In order to make an informed recommendation I will need some info about the type of business you are engaged in, # of employees, ect....

The easy answer is Quickbooks. If you get the fancy package, it does payroll for you (for a fee of course), but depending on what you are doing, it's not always the best.

As always, my advise is strictly confidential and for you guys is dirt cheap.

Send me an e-mail or an IM if I can be of any more help.

Thanks,
Accountant
Link Posted: 1/10/2005 5:58:40 AM EDT
Link Posted: 1/10/2005 6:50:47 AM EDT
It's like Enron, with guns!
Link Posted: 1/10/2005 11:06:12 AM EDT
Reject,

You don't know how close to the bullseye you really are!!!

kblagg,
I will have to answer you IM tonight.

Thanks,
Accountant
Link Posted: 1/10/2005 12:44:33 PM EDT

Originally Posted By Accountant30339:
Reject,

You don't know how close to the bullseye you really are!!!

Problem is, I do!  
Link Posted: 1/10/2005 2:26:31 PM EDT
Ok can someone recommend a good CPA for my taxes this year?  Lord knows if I try to do them, I'll probably fuck em up.  The last guy I used was a crook, and I don't want to go to Hit and Run Block.
Link Posted: 1/10/2005 2:34:26 PM EDT
Delta,

Since this new firm I am with, won't give us auditors access to the tax software, I can get the wife to do them for you.

Accountant
Link Posted: 1/10/2005 4:12:27 PM EDT
Cool sounds good.
Link Posted: 1/10/2005 5:04:35 PM EDT
Not to be a dick, but unless you have some major trading income, inhertiances or have multiple sources of business income you should be able to do your own taxes in a few hours with TurboTax.  In any case if you had any of the above I would hope you're not wasting time posting here and on the high seas in a nice 60'+ sailboat.

The knowledge you gain by reading the tax laws applicable to you will allow you to invest more wisely in the future and be a better voter on tax issues.

I used to be in a real estate partnership, a C-Corp, an S-Corp and have self-employment income. I had to take over the tax reporting because the preparers were incompetent.

My 2 cents.

Link Posted: 1/10/2005 9:34:25 PM EDT

Originally Posted By JoeWang:
Not to be a dick, but unless you have some major trading income, inhertiances or have multiple sources of business income you should be able to do your own taxes in a few hours with TurboTax.  In any case if you had any of the above I would hope you're not wasting time posting here and on the high seas in a nice 60'+ sailboat.

The knowledge you gain by reading the tax laws applicable to you will allow you to invest more wisely in the future and be a better voter on tax issues.

I used to be in a real estate partnership, a C-Corp, an S-Corp and have self-employment income. I had to take over the tax reporting because the preparers were incompetent.

My 2 cents.




It seems as the more I look into all of the tax information, the more confused I get.  Ive read some places that you have to pay federal/state taxes quarterly and I've heard others that you just file normally at the end of the year.  What about the self-employment taxes?
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