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Tax questions

1490 Views 4 Replies 3 Participants Last post by  Fenrir
Well I got my state and federal tax id. I was talking to my boss of my current position at a sign shop. He said he made the mistake of throwing away a forum that came in the mail every month. He thought he didnt need to fill it out since he wasnt selling anything for the first 6months. He got fined a lot he said. I really dont know the first thing about taxes and want to make sure I do everything right.

What do I need to be doing??
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Bend over.

Sales tax
Local business tax
federal income tax
state sales tax
state and fed unemployment
fuel tax (if diesel interstete)
boiler inspections
certificates of occupancy (local muni)
cpsia compliance
workmans comp

If you are unfamiliar with these, hire a cpa firm.
It sucks and is getting worse:mad:
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If you don't sell anything you still have to fill out and return (or go online) your tax forms. You write down zero. Of course, this opens you up to audits if they don't quite believe you're not selling anything.

This is why I wish FL had a temp sales tax/vendor's license. I plan on doing 4 conventions in FL a year. I'm still so far behind on my planning that I don't want to start up a full blown business until next year. But there's a convention in July and in October that I want to hit. But I can't. If I fill out sales tax forms and report sales for July, then 0, 0, October, 0, and 0, that would look mighty suspicious to me if I were observing incoming tax forms.
yeah i just figured that out actually. I just filed the past 3 months and the first month said the status was delinquent. idk what that means. but just filed it. hopefully i dont get fined
When you sign up for a tax ID (at least here in FL) you have to file your reports by a specific date. No "due on X and late after Y", there is one date and that's all there is to it. Supposedly, you sign up for email reminders, but my boss told me that he only gets them once in awhile, randomly (he has a heavy duty spam filter though and I don't use one at all).

One thing the website hammers into your head is that sales tax is not something you pay. You never own the money at all. You are acting as a handler for the money. So you're not just "late with a payment", it's outright theft in the eyes of the law.
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