Business Owners EFTPS

Printed From: the12volt.com
Forum Name: Car Audio
Forum Discription: Car Stereos, Amplifiers, Crossovers, Processors, Speakers, Subwoofers, etc.
URL: https://www.the12volt.com/installbay/forum_posts.asp?tid=69844
Printed Date: May 02, 2024 at 6:45 PM

Topic: Business Owners EFTPS

Posted By: ssnds
Subject: Business Owners EFTPS
Date Posted: January 02, 2006 at 12:12 PM

For those who own there own business. Do you file your federal taxes via Electronic Federal Tax Paying System (EFTPS). Or do you keep your tax money in your bank. then at the end of the year u pay the feds?

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SSounds

Replies:

Posted By: KarTuneMan
Date Posted: January 02, 2006 at 1:59 PM

I keep MY money as long as I can. I figure I need it more than THEY do

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Posted By: ssnds
Date Posted: January 02, 2006 at 2:03 PM

Yes that is always nice to keep it for as long as you can. Do you know if you are required to pay via EFTPS or is it a luxery? I'm guessing it's a luxery.

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SSounds

Posted By: forbidden
Date Posted: January 02, 2006 at 3:00 PM

Colby, clear your PM inbox.

My name is Rob Atkinson, I own Forbidden Audio Ltd. in Courtenay, BC, Canada. I have been employed for the last almost 20 years directly in car audio, for just over 10 years now at my own store. So yes <toots own horn> I would think that I seem to know my stuff.

As I am in Canada, it would not be prudent to me to offer advice as it pertains to how to conduct your business legally with the proper licenses and taxation structures. If you were in Canada, that would be something different.

Advice though is simple. Business is all about money, keep it as long as you can, pay your bills and taxes on time, every time.

Rob

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Top Secret, I can tell you but then my wife will kill me.

Posted By: tcbturbosux
Date Posted: January 05, 2006 at 10:20 AM

Personally.... its easier for me to pay it weekly. Gets it out of the way.

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Uncle Gumby