Posts by neonstag5

Exactly, Karen Rodriguez3 🙂 That’s why I opted out of collecting sales tax altogether...

@Migra

Why on earth would I be working in Word? When I'm out on a job site?
I need to be able to issue an invoice right there where the work happens... I'm not exactly going to lug a laptop and a printer around to some client's house just to print out a receipt >.<

honestly, I’ve already thrown $4.00 out the window for that R2 bill, haha...

I read through that... Honestly, I just wanted to mention that I can just use I an R2 invoice, which means I don't have to deal with the sales tax section at all, nor do I need to explicitly state on the bill that I'm not registered for sales tax. That's all...

So, I’m not part of the sales tax system, and I’ll be issuing R2 invoices, whether you believe me or not... 😁

Robert Hall7 said:You know what really terrifies me? The fact that so many young people graduate from high school, college, or any degree program completely unprepared for the actual workforce or real life. It’s even worse because you're left to just figure it out on your own as you go. I have nothing more to say. No, this isn't your fault.

Yeah... we're prepared for exactly what we studied for. I mean, how am I supposed to know anything about taxes, sales tax, or bookkeeping if my degree is in electrical engineering?

That's why everyone should just stick to what they actually know. I tried finding work in my field, but honestly, in this part of the country, it's basically impossible. Out here in rural West Virginia, the wages are bottom-of-the-barrel and unemployment is through the roof compared to the rest of the States. And I'm done living off my parents... so I decided to make a small business owner decision😁
I guess we'll just see how it goes :P

brisktinker15 said:Small business owners handle the R2 designation on invoices within the sales tax system

Spot on. Those small businesses inside the sales tax net use the R2 designation... but it's not just them. Even those operating outside the tax system have to account for it, they just have to explicitly state that status right there on the invoice itself.
At least that's what my accountant told me... and she usually knows her stuff, so I assume she's right... 🙂

So, I finally went out and hired an accountant... took all your advice to heart, and honestly, I’m feeling a bit more steady about the whole mess now.

She strongly advised against registering for sales tax since I won't actually end up owing anything at the end of the fiscal year—everything should just offset against my business expenses (I don't quite have the technical jargon to explain that properly to you folks). I'm not planning on making any major purchases or stocking inventory anyway, which aligns with what $0.67 mentioned... both the accountant and the forum consensus seem to point in that direction, and things are finally starting to click...

I'll just be using a standard business checking account, and I'll make sure to clearly note on the account details that I'm not registered for sales tax. That should be enough to keep things simple.

@George Phillips

Yeah, I hear you. I dropped the ball there. I should have realized I had the option to decide whether to opt into the sales tax system or not...

Computer repair—software or hardware—I come directly to you... wherever you need me.

haha, loud and clear, auntie 😁

Yeah, that’s already printed right there on the receipt you get when you pick it up at the local CVS

What am I supposed to do if a client asks for an invoice?
Well, I'll just hand them a receipt... and since there’s no sales tax tacked on top, the total looks a lot smaller. It's cheaper, more appealing to the average consumer... keeps things simple. 🙂

Honestly, the whole concept of sales tax just feels fundamentally broken to me...

Thanks, everyone 😁

I’m just trying to figure out the timeline here... when exactly am I supposed to start buying all those business ledgers and actually getting the books in order?
Is this something I need to have squared away the second I register my LLC, or am I just waiting until the end of the month to get organized?
And who even looks at this stuff anyway... who am I supposed to be handing all these records over to?

Thanks a million
Anyway... how on earth am I supposed to prove my mileage? I know, sounds ridiculous, but how do I actually request an R1 for this... Should I be asking for an R1 receipt for every single thing?

Well, anyone starting a small business isn't automatically pulled into the VAT system... you have to clear $28 in annual revenue first, if I recall correctly. That’s when the tax man finally comes knocking...

Thanks,

but I’m still a bit stuck on one thing... why bring up sales tax when I'm not even registered for it? It just doesn't seem to apply to my situation...

And regarding the vehicle—I was actually thinking about using my own personal car for business trips, since it's really more of a family car anyway. I remember reading somewhere that you can just claim a standard mileage rate per mile...

First off, greetings to everyone else hanging out on this forum!

I have a few questions regarding my new small business. I’ve already turned in all the paperwork, so the registration from the local Secretary of State's office should be hitting my inbox in a day or two...
I'm planning on doing mobile computer repair, which means no physical storefront or office space to maintain.
Since I'm currently unemployed, I'll be responsible for covering my own Social Security, Medicare, etc. (roughly around $0.50 a month, please set me straight if my math is off), plus there's that extra payment every 3 months $133 (not entirely sure what that covers)...

The thing weighing most heavily on my mind right now is the bookkeeping side of things. I have a buddy who used to work as an accountant, and I'm hoping he can teach me the ropes so I can just handle the books myself. But honestly, I'm wondering how smart that actually is... and what kind of penalties we're looking at if I slip up and make a mistake?

Also, what kind of things can I actually write off as business expenses? For instance, could I use a car that's registered in my father's name? What about a laptop if I don't have the original receipt handy? Or maybe some old software, like an original copy of Vista or Office?

Anyway, that's pretty much everything for now... I would truly appreciate any advice or help you all might be able to offer.