Why is this dumb?
Same as a bucket Bob?
If I have to pay taxes on my business you better believe I’m hoping my competition does two otherwise they have a huge advantage over me.
I do not like my taxes don’t get me wrong but it is what it is.
Why is tax evasion dumb? I think you missed my point. I’m saying that it is dumb to evade taxes.
I understood it as “dumb” they were going after him.
There, fixed it. 
it’s how they got al capone.
27
YES
I went to a window cleaners convention a few years back. They had an accountant there as one of the speakers. He explained to us how the IRS figures out how much money you owe them even if you don’t report the income. They know income & expenses and they definitely know taxes. They are not dumb idiots. Wouldn’t it be nice if they were. Haha
PS
They don’t even need a tax return to figure out how much you owe them.
Stupid ass thought it would work out for him if he put the money in his personal account?
How do you say “paper trail”?
Dumbass.
All they have to do is look at your bank accounts.
or your stuff. a garage owner here had a breakin and the local paper reorted the stuff taken. it so happened the tax guy that was examining his current return saw the article and realized he could afford that stuff with his declared income. he went to jail after an investigation.
and what better way for a disgruntled customer or employee to back at you than report you for tax evasion!?
How soon should I get a CPA after I start?
I started like three days ago and I need to file as a business, I’m thinking about getting in contact with a CPA as soon as I do that.
We made the mistake of waiting a few years before getting a CPA.
Last year we fired 2 of them.
Sooner is better, so when the first few CPAs screw the whole thing up for you its easier to recover.
An long-ousted member of this forum was bragging in a public Facebook group yesterday about how he is purposely evading the IRS.
I guess Federal Prison is easier than homelessness.
book keeping is critical. all records organized , all money through business bank account no personal expenses mixed in.
any accountant or tax audtitor is going to want that.
And I’m def wanting that. My dad hasn’t paid taxes since the 80’s but me and my brother want to change this.
Plus paying taxes makes you look 100x more professional.
It’s best to consult with one as soon as possible just so you know what’s expected of you and what your obligations are.
Must realize now you’re responsible for your own personal taxes and business taxes. as You don’t have an employer to pay half your taxes, so now you’re paying the full 25% personal tax or what not.
Collecting sales tax and not spending it before you need to pay it in is also another issue new business owners come across. Just because it’s in your account doesn’t mean it’s yours
Also, it all depends on who you are:
Get with an accountant and explain your needs. If you’re small they may only need you there every April if you are keeping track of everything. Which trails into…
…Good bookkeeping will make your life a lot easier. Get set up with Quickbooks and keep up on it. It helps BIG time generating reports instantly. Need to know how much sales tax you owe? Two clicks away. Need an Income and Expense chart printed? Two clicks away.
I use a combination of House Call Pro and Quickbooks.
