I am trying to avoid hiring an accountant. How can I figure out what tax bracket I will be in?
If I am a sole propriotor and I run my business out of my home. How can I figure out how much taxes I will have to pay (or which tax bracket)? I am trying to skip hiring an accountant but it may be enevitable. Also, If I only deal in cash, how will anyone know how much sales I actually do? I have a business bank account set up. Do they use that at the end of the year? The account is setup with my SS number as the Tax ID number. So does this mean I will file everything together? Any help is appreciated..
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Call a local college and ask if they have any accounting students who would like a very part-time job. Like an Internship. They could just give you 4 hours a month or something, for an agreed upon price. Maybe you could even barter something you sell in your business in exchange for 4 hours of his time. I just see my tax man at the end of every year to do my taxes but I can call him for free advice all year long even though he only gets that one check each year for doing my taxes. Good Luck.