The Small Business Tax Help Blog

Posts Tagged ‘invoice’

Question: How do I back file for Self Employment – 2006 taxes (just the paperwork, I already paid the tax)?

I was self-employed, paid the estimated tax I owed, but forgot to send in my tax form.

Do I need to prove I sent in payment? I am unsure if I need to send in any verification that a payment was made with my late 2006 tax forms -

Any insight would be awesome!

THANKS!

Answer: Just file the return. If you owe any additional money and don’t pay it, IRS will send a bill. If you have an over payment, IRS will send a check.

Don’t panic — You have until midnight Monday to file taxes

Don’t panic. That’s advice from tax experts.

How to Complete a 1040A Tax Form : 1040A Tax Credit & Payment Tips

Question: Peachtree, Quicken, or Quick Books?

Which of these software packages would be best for me? I have a small garden design business, I work solo (no employees), I carry no inventory, and have few expenses. I invoice in excel now, and my terms are net due on receipt (so no A/R). I just need something basic to track income, expenses, sales tax, and my bank account. Which would you recommend and why? Also which version of each if possible, they all have different levels and versions. Thanks!!!

Answer: I don’t have any knowledge of Peachtree, but I have used Quicken Home & Business since 2001, which I think would be a good fit for you. For what I know of QuickBooks, it’s good if you have payroll to handle and checks to cut, among other things, but that’s where it differentiates itself from Quicken Home & Business.

Plus, I believe QuickBooks (I’m not an accountant, so I may be off base here) uses a double booking accounting system where every transaction shows up in 2 different accounts and every transaction is logged so you can’t just erase something.

For invoicing, tracking expenses, bank accounts, sales tax, income, Quicken Home & Business is the way to go from personal experience.

Good luck!

50 Must-Have Small Business iPhone and iPad Apps

Editor’s Note: Last year one of our most popular articles of the year was written by Shara Karasic, who pointed out 10 small-business apps for the iPhone.

Small Business Expenses, Accounting and Bookkeeping

Question: How do I pay and file taxes if I am an Independent Contractor?

I just got a job as an Independent Contractor.

How do I pay and file taxes if I am an Independent Contractor?

Can I pay my Taxes, Social Security, and Medicare per week?

How to file them per year?

Thanks

Answer: Excellent answer ^. I thought it was $400, though, not $600. Years back, I would have advised you to deposit into a savings account what you’d be paying to the IRS and just pay them at the end of the year to collect the interest, but in this day and age that wouldn’t be all that much. Don’t forget as an independent to save ALL receipts for gas, tools, anything business related, up to and including a portion of your phone expenses.

Candidates in primary election introduced

With the primary elections right around the corner on Aug. 24, the Yuma Sun will run a mini-series on the races and candidates that residents will decide on later this month.

1099 MISCLASSIFICATION: It’s Time to Play by the Rules

Question: I need “free” small business software to keep up with tracking sales,purchases,etc….?

My small business that I started this year hs sold about $20,000 and currently I only have my sales/costs/expenses on an Excel spreadsheet and need an actual way to input and keep up with sales/purchases/freight/taxes/expenses,etc…. anybody have any ideas?

Answer: GnuCash is one I really like.

Workplace Productivity at an All-Time Low; Pandora Corp. Releases The Office Software (theOS) to Combat Cyberslacking ...

Bad news for employers: social networks are destroying employee productivity. Time and money are being wasted at a higher rate than most employers think, as statistics show 64% of employees use company time to browse sites like Facebook. The Office Software (theOS) is the best network-based productivity tool to help managers monitor employees and achieve increased productivity and enhanced ...