How To Do Your Small Business Taxes | What are right offs, TurboTax, New Small Business Owners

[@brennamandco]

Hi guys!! I just want to let you know that you do have to pay to file your taxes with Turbo Tax just like any other accountant. On Turbo Tax you can choose if you want help from one of their accountants or if you'd like to do it on your own which in my case, I did it all on my own. I personally did my state and federal taxes through them which was a fee. So please keep in mind that when filing your business taxes, you may have to pay Turbo Tax to file them. xoxo, Brenna

[@lindouglass4115]

I dont own a business, but I do my own taxes as well as my brothers. When I first started doing them I would use 3 different services and if they all matched I would continue with the cheapest. I just have a sinple return so I cant justify paying over $100 for someone to do what I can do for under $20 lol ... now if I had a business that would be another story. Thanks for sharing. Im sure this will help others. ❤

[@ShaQuinaStanley]

Such a good and informative video. Thank you for sharing your process!!!

[@Ms_Complexion_V]

Omg I thank you for making this video

[@ChantelleArts]

It's really interesting hearing about all the things that could be a tax write-off! taxes are something I'm a little scared to do, when you had an accountant, did you start contact with them at the beginning of the tax year or near the end? ❤

[@brennamandco]

My old accountant has always done my dads taxes so I already knew her but I personally got in contact with her in the beginning of the new year

[@ChantelleArts]

@@brennamandco ah cool, thanks!

[@vickig3465]

This video was helpful cause I just started my small business and I’m wondering what type of stuff can be a write off.

[@truedownmexican]

Do you use a specific turbo tax package?

[@monicamoss375]

Hi Brenna, Question, when you first started, should you collect taxes for items you sell initially or is there a threshold ?

[@brennamandco]

I collected taxes on all my items! I hope that answers your question

[@monicamoss375]

Yes! Thank you.

[@kathleenbigsmoke-mitchell4898]

❤ Turbo Tax 😊

[@simonsayzcreations9140]

How would you incorporate any cash app purchases? Or would you only use that to collect payments at fairs and than transfer it over to a bank account?

[@brennamandco]

I don't use any other form of payment besides card transactions through Shopify POS & cash! Even when I receive cash I put it through my shopify POS system! Hope that helps.

[@simonsayzcreations9140]

@@brennamandco yes it did. Thank you. Can you do a video on what is needed/ the process to open a business credit card?

[@brennamandco]

I personally just opened a card in my own name but I only use the card for my business to keep thing separate! Heres the link to the one i use! americanexpress.com/en-us/referral/BRENNMGeKs?XL=MIANS

[@simonsayzcreations9140]

@@brennamandco thank you. I will look into it. You really are a gem like people say. I've watched other yt videos from other people and they shouted you all the time

[@blueeyedbraniac]

Do you pay quarterly taxes?

[@brennamandco]

no I do mine annually!