WE'VE MOVED!

We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

Handling Sales Tax on Home-Based Business Sales

DerekNDerekN subscriber Posts: 2
I`m starting a business out of my basement selling customized videos to people.  How do I handle reporting sales tax to my state (Kentucky - I don`t have to worry about local sales tax)?  Is it as simple as filing a sales tax return?  Should I just hire an accountant?
 
Thanks.

Comments

  • PiperTaxPiperTax subscriber Posts: 5
    Often it`s just a form you fill out online. My monthly Illinois form takes about 8-10 minutes, so it really isn`t too bad. Honest truth, I wouldn`t hire an accountant just to handle that for you. (Though finding a good accountant is probably a good idea anyway.)
  • LizardWisdomLizardWisdom subscriber Posts: 0
    Honest truth, I wouldn`t hire an accountant just to handle that for you. (Though finding a good accountant is probably a good idea anyway.)

    We can`t agree with PiperTax enough on this one! You should hire an accountant if you are going to be in business. It will take a load off of your mind knowing that the taxes/accounting is being handled properly.
    We have both a state and city sales tax we deal with. State is filed online. City is done via a two page form which we just copy the state stuff onto. VERY easy, once you do it a few times.
  • grabitpackgrabitpack subscriber Posts: 5
    Check out your STATE BOARD OF EQUALIZATION site.
    I agree with LizardWisdom you NEED an accountant.  There are certain paths you can`t cut across and taxes is one of them.  If you get a good one they will be glad to answer your questions regarding any issue at any time.
Sign In or Register to comment.