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Nate R.
01-31-2011, 02:53 PM
So I just had my taxes done at H and R Block for the first time with my LLC business. The guy who did them for me told me I might have to file something quarterly but he wasnt sure with my profession (personal training) and he seemed really confused and confused me about it haha So i was wondering besides doing your taxes normally is there anything with a LLC that you have to do quarterly. Thanks in advance

Ctrainer
01-31-2011, 03:01 PM
So I just had my taxes done at H and R Block for the first time with my LLC business. The guy who did them for me told me I might have to file something quarterly but he wasnt sure with my profession (personal training) and he seemed really confused and confused me about it haha So i was wondering besides doing your taxes normally is there anything with a LLC that you have to do quarterly. Thanks in advance

Hey Nate - when we met with our tax guy he said that depending on much you are making in your business really drives when you file since you have to pay social security. I did not get the impression that you had to file quarterly...just that you would want to so you didn't have to pay a lot at the end of the year...

We used H&R block the first year we had our LLC and were very unhappy how they did it and how much it cost..I know some folks that use Turbo Tax and say that it is not that much more difficult even with your own business..

Do you have a home office for mileage purposes?

Nate R.
01-31-2011, 04:54 PM
Hey Nate - when we met with our tax guy he said that depending on much you are making in your business really drives when you file since you have to pay social security. I did not get the impression that you had to file quarterly...just that you would want to so you didn't have to pay a lot at the end of the year...

We used H&R block the first year we had our LLC and were very unhappy how they did it and how much it cost..I know some folks that use Turbo Tax and say that it is not that much more difficult even with your own business..

Do you have a home office for mileage purposes?

Hey Nicki! how are things? The guy was VERY helpful with telling me all of the things I can write off for taxes such as a home office and such. Along with mileage, buying equipment etc... But he talked about some quarterly thing but then said I do not know if you have to do it haha Was a little confusing. For some reason I feel like I do not have to file quarterly. My dad has a company that is Incorporated and I know he does not have to, so I do not know why an LLC would.

Thanks for the response :)

ErikRok
01-31-2011, 10:58 PM
In the US I believe quarterly taxes depend on the state. I have different businesses in different states and my accountant does one state differently than the other.

Oh, I would recommend a good accountant. Not bashing h&r block, but a good accountant can save you a ton of money.