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02-03-2007, 05:00 AM #1Disabled
- Join Date
- Dec 2003
- Posts
- 1,941
Anyone here have basic knowledge about US tax for businesses?
Hello, before I contact H&R block and annoy their representatives with my new guy questions, I was curious to know if someone could talk to me via pm regarding a few basic questions regarding business tax in the US. My sites started out non profit and later grew from there and during the past year I have paid a lot of money for servers, domains, and freelance programming so I wonder if all of those business expenses can be tax deductible. Please send me a pm if you would like to help and I will not harass you with questions I only have a couple. Thanks
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02-03-2007, 01:06 PM #2Problem Solver
- Join Date
- Mar 2003
- Location
- California USA
- Posts
- 13,681
They are all deductibles. However if you have not paid estimated taxes this year and you consider yourself self employed, you are looking at a penalty added on to your taxes, because you have not paid the irs any withholding. You also have to pay income tax + self employment tax (15.3% of your income)
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02-03-2007, 02:55 PM #3Web Hosting Master
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- Feb 2002
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- Vestal, NY
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- 1,381
I hate taxes!
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