cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

How do you set up your quarterly taxes if you don't have payroll or sales tax

 
1 Comment
Highlighted
Level 15

How do you set up your quarterly taxes if you don't have payroll or sales tax

Quarterly estimated taxes are a personal event, sole proprietors, and partners in a partnership, use estimated quarterly taxes.  Other than maybe taking funds as an equity draw, there is no business accounting entries for that event.

 

Sales tax is another issue, if you do not have to collect sales taxes at all on sales, then you do not have to worry about quarterly sales taxes.   But if you have a sales tax number, meaning you are supposed to be collecting sales tax,  most states require you file a no-tax due report.

Need to get in touch?

Contact us