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Topic: Tax question  (Read 1091 times)
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roundhouseknitter
« on: February 28, 2008 11:47:08 AM »

I'm gonna toss this question up and see what I get in reply. It's simply this: how does a person go about getting a tax # and what happens after that? I really get nervous about this because its nothing go fool around with! Back in the day (lol) my husband got a tax number, I guess you'd say, to work construction on his own. He hadn't really started any work but we got some kinda paper that was like a bill! We kinda looked at it and was like Huh  Huh !!! We were young and not brave enough to figure it out. Just decided we were in over our heads, you know how it can be. Or maybe not but anyway. How do I figure out what I'm gonna make before I know how much that is so I can tell the IRS so I can pay the taxes before I know even how much I might make!!!! Ohmygawd am I making more of this than I outta? (this is sooo scarey to me!) I've read some books on home based businesses but there's not to much info about this. Some personal experience and hindsight or simple common sense (my lacking thereof!) would be super! Any input would be great. There is something spooky about asking the IRS for anything. It's not like I've ever tried to stiff the gov but I got what I call "scared of my boss" syndrome! Goofy, I know. Throw me some ideas and purls of wisdom, thanks!
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hippydaze
« Reply #1 on: March 26, 2008 08:12:25 AM »

You should be able to go to your state tax & finance site and sign up for a tax license. I signed up for one in NY, it was pretty easy, i went on their site, they had different options depending on what you're selling and where you're selling it (craft fairs, stores, etc), and I got my tax license with my company name on it a few weeks later. Mine was more simple tho, because I only sell at craft fairs, but it wasn't as hard to get as i thought. Then, I just keep track of my sales and tax collected, and report & pay it on a quarterly tax return. Hope this helps!
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roundhouseknitter
« Reply #2 on: March 27, 2008 04:00:09 AM »

thanks hippy daze (great name!)

i finally called the secretary of the state, got passed on two or three times and received my forms in the mail. one thing about the state of WV the folks here are super nice and super helpful. now i got to remove the "nerves" so's i can read and understand what the dickens i'm reading! is gov speak a different language? no, but seriously, i put the forms down and will get back to 'em when i am ready to flex my brain!  Shocked

have a good one!
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