Rant: Corporate tax submission time..

[The Stigenator]

First time I am running my own company and doing real accounting and having to do my real corporate taxes.. what a e'ffin nightmare.. I am not an accountant, I am an scientist and a visionary.

After slacking on it for months, I finally bought Quickbooks 2013 in November. Problem is I do not know how to use it to our application specific needs, it talks vendors and customers and what not else, in our case our vendors are also our customers. I have to spend some time setting quickbooks up correctly soon.

So what do I do, create an excel spread sheet and input all debit and credit transactions from the bank account into it. Also create other sheets for all credit card transactions.. Hoping it would be easier to import them into quickbooks through excel.

I assume all I need for my corporate taxes are the running profit / loss numbers (Credit - Debit) from the bank account. Since the credit cards arent considered expenditure (debits). I probably do need an real CPA to do the actual taxes, since I am not sure what can be deducted and what cannot be deducted.

Now I wish someone could walk me through quick books but after the tax filing is done tomorrow.

alright off to bed.

 

[BoomerD]

Take a class at a local community college.

http://www.laccd.edu/our_colleges/

 

[highland145]

Pro tip: Pay the CPA.

You will bitch and whine like a little baby when you get the bill.


2 corps, sub s, and personal taxes......$2450.

 

[Sonikku]

Step 1:Make billions, make lucrative campaign donations that will foster the creation of obscure take loopholes then hire an army of 100 accountants to exploit said loopholes.
2:??????
3: profit

 

[Slew Foot]

you can write off trips to puerto rico as a business expense

 

[blackangst1]

Pro tip: Pay the CPA.

---snipped---

THIS x1000. Do NOT do corp taxes on your own.

 

[TechAZ]

First time I am running my own company and doing real accounting and having to do my real corporate taxes.. what a e'ffin nightmare.. I am not an accountant, I am an scientist and a visionary.

After slacking on it for months, I finally bought Quickbooks 2013 in November. Problem is I do not know how to use it to our application specific needs, it talks vendors and customers and what not else, in our case our vendors are also our customers. I have to spend some time setting quickbooks up correctly soon.

So what do I do, create an excel spread sheet and input all debit and credit transactions from the bank account into it. Also create other sheets for all credit card transactions.. Hoping it would be easier to import them into quickbooks through excel.

I assume all I need for my corporate taxes are the running profit / loss numbers (Credit - Debit) from the bank account. Since the credit cards arent considered expenditure (debits). I probably do need an real CPA to do the actual taxes, since I am not sure what can be deducted and what cannot be deducted.

Now I wish someone could walk me through quick books but after the tax filing is done tomorrow.

alright off to bed.

lol

pay a CPA

lol

 

[Imp]

Find an effing accountant. My mind is being blown just from having to do taxes with stocks and distributions -- even I want an accountant.

 

[RaistlinZ]

I say do them yourself. That way we'll be entertained by the follow up "I'm being audited!" post.

 

[manimal]

I say do them yourself. That way we'll be entertained by the follow up "I'm being audited!" post.

good one!


Ya dont put all that liability on your own shoulders. There is a reason CPAs exist and its to prevent you from doing something really stupid.