The lady was talking far too much technical stuff to me. I was trying to keep up with her, but business tax stuff is out of my league. I have an appointment with a CPA later this month, I'm going that route. Meanwhile, I filed form 4868 which is an automatic extension up to 6 months. I'm simply not qualified to try to do this myself. I want an accountant to hear all the info I have pertaining to this business startup and the 401k cash outs and house cashout - tho that is not taxable because it is considered a loan.
This takes a lot of pressure off of me for right now. Now that that's filed, I have to work on another form for estimated tax payments. I shouldn't have to make any payments for the first quarter because I took no pay. I still haven't. But I dunno how it works, the form is printed, I will be working on that pretty quick here.
I also have to file a statement with the state of Texas, another thing I am going to work on next. I have spent hours on this, literally. I just decided today was a bust and stay home and do taxes, that's that.
Meanwhile, the newbies that came in yesterday are already leaving. They had just gotten their RV out of the shop, parked it, hooked it up to electricity and baam! Half the trailer outlets including one of the AC units weren't working. Back to the shop. I suggested that if that shop - or actually it sounded like backyard style shop - doesn't work, I have the number for a man that knows his stuff that will come to you to fix whatever is wrong.
Now, I'm not saying he's free, I just know that he's worked on 2 rigs in the park and there are no complaints with his work.
Unfortunately, instead of getting $475 from them, I got $15. I just charged them less than full night's stay to try and keep them on the baited hook. Yes, please come back whenever the thing is fixed. So who knows if I'll ever see them again. ?? Your guess is as good as mine. The other people are - allegedly - set on coming to my place once they get to town. And then the dude that showed up last night at 1 am. He will be paying me some time today, he was at work when I texted him. He must not have gotten much sleep, having come in at 1:00 am, having to hook up and then gone by this morning? That will make for a long day at work.
But, he's young, you can tell by his voice. He can manage it better than - people like me that frequently have sleepless nights. I still try to get stuff done, but it's a real chore.
Basically, I'm just taking a break right now with all of this stuff. I had to snap photos of who knows how many more receipts to input to Quickbooks. And then categorize them and save them. It's been a day, I'll tell ya that. Alright. I filed the no tax due report to texas electronically. That was pretty easy, a one page form asking specific questions that were easy enough to fill out using the notice from the state they sent me a few months ago.
One more thing off of the list.
Now, to tackle this form for making payments for income tax. As I stated, since I took no money from the account for personal pay, I shouldn't have to pay anything? Lol, I don't know. It's rather confusing, because they are asking for the amount of money you think you'll make, ie: take out of the business to pay myself - for the full year and pay a quarter of it.
I think. So, do I have to pay for money I haven't even received yet? This is where a tax professional will come in. The lady from turbo tax is calling me back later after she's off work. She knew her stuff, at least, and recommended I file as an S corp. Yes, but how do I do that? Don't I have to change the whole designation of the business for that? And how is that done? And how much do I pay now even if I"ve taken nothing yet? So many questions.
I'll take a look at this form but if it's too much or I'm getting confused, I'll wait for her to call me and see if she can give me some guidance.
At least I'm tackling this garbage and I have my bookkeeping for the business up to date. I do mean, up to date as in, right now, it's all good. At least, as far as I can tell it is.
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So, I have a ride to the park early morning and a ride back. Taylor, that is. Works for both of us. She needs me to get the boys tomorrow afternoon (and today as well) and so she will take me early and pick me up. I'll have 5 hours to get stuff done, that's plenty of time to mow the lawn and get some stuff done at the shed. I have put up a question about rides in the local gossip group. If anyone is doing it in this town, someone in there will know who it is. There used to be someone giving rides for pay but they have since stopped doing it. The only thing here is a bus line that goes everywhere but where I need it to go.
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