I have finally taken my service business to the next level. I have filed my LLC and obtained my F-EIN #. I will be obtaining my "Business Tax Receipt" the new name for "Occupational License" this Tuesday 3/22/16. My business will be opperating in Orlando Fl. I have an equal partnership with another forum member, so it is to my understanding that we do not have to pay ourselves a salary or carry workman comp insurance either because we are the only employees. Is this true? A few more questions I have are...
-During the service there are times where we must replace parts, parts that we up charge on. Must we collect sales tax on this? If we pay sales tax on an item that we purchase for say $10.00 and we sell that item for 20.00 to the customer, if we must collect tax, is it on the $20 total sale or the $10 profit?
-Should I seek consultation from a Lawyer? What can I expect to pay for a consultation?
-I plan on using Quickbooks, is there another program that I should consider instead?
I have more questions, but lets talk about this before I go on.
Thank you for all your help.
Jeremy
-During the service there are times where we must replace parts, parts that we up charge on. Must we collect sales tax on this? If we pay sales tax on an item that we purchase for say $10.00 and we sell that item for 20.00 to the customer, if we must collect tax, is it on the $20 total sale or the $10 profit?
-Should I seek consultation from a Lawyer? What can I expect to pay for a consultation?
-I plan on using Quickbooks, is there another program that I should consider instead?
I have more questions, but lets talk about this before I go on.
Thank you for all your help.
Jeremy
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