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Posts by djbookkeeper

Thanks for all of your replies.Mcaulir - that's exactly what I was going for. In my bookkeeping forums, there are lots of exciting spreadsheets and forms that we all share to help each other out.Just so everyone can sleep tonight, I am not spoon feeding my daughter, nor will I ever be taking orders. She actually has her own cell phone and email address! I'm simply trying to help her learn a little organization since the creative types sometimes need a little help from...
She does cakes, cupcakes and bouquets. No weddings, yet, so mostly birthdays and office parties. I'm a bookkeeper so I'm just trying to help her get organized. I can create a list but if someone has one that's been posted already, I love to save time! Do all of y'all just ask questions off the cuff?
My daughter is just getting started and I thought it would be helpful for her to have a list of questions to ask when she gets calls from customers. Does anyone have a list to share?Thanks!Darlene
I know this is all very confusing. I really recommend you get someone to help you with your books.IRS has absolutely nothing to do with sales tax. If you ever have any sales tax to pay, you'll pay the TX State Comptroller. The Comptroller will the one doing any sales tax audits which are different than income tax audits.If you purchase a cake board online and don't pay sales tax, you should report it to the Comptroller on your quarterly sales tax report and pay a use tax....
Yes, either way you should pay sales tax on the materials you purchase to make your baked goods as a home baker.
Keep in mind the big picture - home bakers won't need to charge sales tax on baked goods. My understanding is sales tax is only charged upon immediate consumption, i.e. a restaurant.Ideally, I would suggest just using the sales tax ID to gain access to a wholesaler. When you do purchase, pay sales tax if you can. If the wholesaler won't collect sales tax, you do need to pay the Comptroller for whatever sales tax you should have paid. You need to pay sales tax on whatever...
Cupcake trucks are cute! We have several here in Austin.Keep in mind the fuel costs when you're creating your business plan. I did the books for a food truck and the fuel cost for them was equivalent to 20% of what they spent on product!
Be aware that there are different types of tax ID's. Wholesalers will either require a FEIN or a sales tax permit. Check with the wholesaler you want to do business with and see what they require.
I've explained to several people the steps to go through on setting up a business (FEIN, DBA, sales tax, etc.) and decided to just type up the steps and include the links. It's a couple pages long so I'll just include a link. Hope it helps! Setting up TX business
When you're looking at whether or not to do payroll, remember to calculate the employer taxes into your budget. The employer taxes range from 8-12% depending on the state you're in. I would also recommend paying those taxes monthly, even if they aren't due. Or, at least put the money in a savings account. And, check the regulations carefully if you have someone working for you as contract labor. Be extra sure they can't be considered an employee because IRS is cracking...
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