This is the first time I have run my own business, I just launched three months ago and I got a notification in the mail about paying quarterly taxes because I registered for a sales permit. The sales permit is more for taxable goods. I haven't made any sales of tangible goods, but have done alot of web work and other side projects just to bring in more money for my business while I get it up and running. Since I have a sellers permit I have to file quarterly. Should I be claiming all my income from everything including side projects, or just the taxes from the tangible goods? I didn't know if web design services would fall under the sellers permit taxes or not. If anyone can point me in the right direction, I'd be grateful.
I've never done so myself, but I've been told I should. My real estate business has been hit so hard and the expenses are still there that I think they all end up balancing out so that there are pretty much none due. At the end of the year I end up getting a refund some years as I have a good-sized family and a lot of deductions and such. I've never really understood how all those numbers worked though. I talk to my tax guy about those questions. Maybe you should give yours a call?