Taxes are due!

[katdaddy]

Im wondering what software do u use? Do u file online? anybody balling enough to have there own tax accountant! boy oh boy Im going through my files now just trying to get stuff organized so I can start inputting! JOY!

[maurice]

Depending on how you have you business set up depends on should you use an accountant or not. That software is cool if your not making much money. But I would suggest an accountant , its better to pay him than pay uncle sam. Also that software will not help you if you get audited and the accountant will.




M

[katdaddy]

thanks maurice what exactly do u do in the adult insdustry? U seem to have knowledge please advise...

[RedShoe]

We use a CPA. She's pretty kick ***. She told us, (I have no idea where she heard this, but fuck it, it sounded legit to me) she said that some tax fillings throw up red flags and so they are immediately Audited. Then she said that the Gov't likes to meet a quota. It's not a real quota because that is illegal, it's sort of a "guide line", as in "a good tax auditor can pull 15 audits a day" So what do they do? They just randomly pull their quota after April 15th, until they meet their annual quota.

I'm not sure if it's 15 a day, I'm just using that as an example.

But after hearing that, we always file an extension. We go in around June or July, 2 years ago we waited until October. We have never been harrased, nor do we fell like we will.

Agina I don't know if that's true or not, but it sounded good at the time.

[maurice]

Originally posted by katdaddy
thanks maurice what exactly do u do in the adult insdustry? U seem to have knowledge please advise...


i run a bunch of sites adult and clean

[Gman]

I have to pay taxes quarterly, so April 15th really doesn't mean much more to me than the 15th of any other tax month.

If you're making more than $100k a year, get yourself a CPA fo sho. Not only saves you major headaches, but keeps your *** out of the fire if there's a mistake. Which there shouldn't be if your accountant is worth his grain.

We're currently using Quicken 2003 and Quickbooks Delux to manage finances. Very easy, and worth every penny. Whenever taxes are due, simply print out the income/expenses documented for that quarter, and send it off to your accountant. Done. No worries.

PS: In my opinon, financial management software can benefit you no matter how much you make. If you have an accountant or not. Our accountant insisted we use it. Just makes his life easier too. ;)

:D

[james_cmm]

I agree with Gman that an accountant / CPA is a must. Especially is you are a corp. or llc.
We use QuickBooks also to do all our accounting and payroll.
We pay our CPA a monthly retainer and each month send him an accountants copy of our QB file. That way he can correct any errors we have made when classifying expenses etc.
Also when it comes to the end of the year we don't have any huge payments to make because we have made quarterly federal tax deposits throughout the year.