Hi! I have been starting a small business (microgreens, aka sprout cousins if that helps) It has been so much fun and I’ve learned a lot, but I obviously know very little about business.

I know kind of what taxes are, but have NO idea how to do them. My state doesn’t have sales tax which is all I know. I’ve been keeping okay track of everything I am buying and making.

But is anyone willing to make a step by step on how to do taxes? I COMPLETELY understand if not, because I know how much that would be. I tried looking on the Small business government website and a few other places but there is just so much jargon that I don’t understand (it’s above my reading level AND I don’t know lots of jargon)

I also have gotten an LLC and business license but am just stuck from there. I’m worried i’m going to do something wrong and will end up in jail, or owe a BUNCH of money. What if I’m missing something else big?

  • Naive_Ad3026@alien.topBEnglish
    1·
    1 year ago

    not having state sales tax makes things easier. The best route for paying taxes will probably be quarterly payments to the IRS (that’s what I do). But overall - the single best advice that you can have would be to make an appointment and sit down with a CPA who is familiar with your specific locality and state taxes.