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Taxes for first year

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Taxes for first year

Post by scgilland on Wed Sep 07, 2011 5:38 pm

I know its probably different in each state and for different business, but I was wondering if anyone knew the percentage of taxes you may have to pay a year in this kind of small business. This is my first year so I am hoping the start up costs(website, paints, gear, tables, chairs, insurance and such) will be enough to deduct most of my taxes, but I am trying to save just in case I have to pay taxes this year. If someone knows any info would be appreciated!
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scgilland

Number of posts : 279
Location : Nevada, Iowa
Registration date : 2011-06-27

http://www.princess-pirate-lucinda.com

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Re: Taxes for first year

Post by Perry Noia on Wed Sep 07, 2011 8:50 pm

I've been doing this for 3 years now (and while everywhere is going to be different), I am only now coming out in the black after all deductions that can go on my taxes (including % of mortgage, % of utilities, internet, mileage, etc)... I'm still not having to pay anything yet.
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Perry Noia

Number of posts : 3523
Age : 37
Location : In my own little world... in Windsor, Ontario
Registration date : 2008-12-12

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