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Tax Help!

John2020

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Dec 4, 2019
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Hello, so I am ready to start my social media marketing agency,

I just have one important question before I start taking clients, and it has to do with taxes.

I will be operating as a sole proprietorship, working as a self-employed individual. This will only be for the first few year or so as I scale my agency.

My one big question is, how do I go about taxes in this case?
I just want to make sure I know everything I should know so I don't make this kind of mistake.
I know I must sign up as a sole proprietor, how exactly do I go about doing that?
Anything else I may be missing that I should know would be helpful


**(It is important to note for tax purposes I am from the United States)**
Any advice is much appreciated! Thanks
 
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Mikkel

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My one big question is, how do I go about taxes in this case?
I suggest speaking with a CPA, as it may be different in each state. Taxes are confusing. In my opinion, trying to figure out taxes on your own especially when you are starting up is too much of a headache.
I know I must sign up as a sole proprietor, how exactly do I go about doing that?
Usually, you just register your business with the state you are doing business in.

Anything else I may be missing that I should know would be helpful
If you are serious about making this work, getting all your ducks in a row is important. Personally, I spoke with a lawyer and a CPA before starting my business. I don't pretend to be an expert in the field of taxes or business law, so speaking to someone who knows their shit is beneficial.

Move fast, and speak with the right people so you don't drag your feet figuring out all the steps on your own.
 

jdm667

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Hello, so I am ready to start my social media marketing agency,

I just have one important question before I start taking clients, and it has to do with taxes.

I will be operating as a sole proprietorship, working as a self-employed individual. This will only be for the first few year or so as I scale my agency.

My one big question is, how do I go about taxes in this case?
I just want to make sure I know everything I should know so I don't make this kind of mistake.
I know I must sign up as a sole proprietor, how exactly do I go about doing that?
Anything else I may be missing that I should know would be helpful


**(It is important to note for tax purposes I am from the United States)**
Any advice is much appreciated! Thanks
You need to pay quarterly estimated taxes: federal income, state income, and social security/Medicare.

The Q2 due date is June 15th, so you might want to set aside money or get tax help if you have already made money this year.
 

John2020

New Contributor
User Power
Value/Post Ratio
53%
Dec 4, 2019
30
16
I suggest speaking with a CPA, as it may be different in each state. Taxes are confusing. In my opinion, trying to figure out taxes on your own especially when you are starting up is too much of a headache.

Usually, you just register your business with the state you are doing business in.


If you are serious about making this work, getting all your ducks in a row is important. Personally, I spoke with a lawyer and a CPA before starting my business. I don't pretend to be an expert in the field of taxes or business law, so speaking to someone who knows their shit is beneficial.

Move fast, and speak with the right people so you don't drag your feet figuring out all the steps on your own.
Thank you!
 
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