Re: Any small business owners here ?
1. Optional question, what type of business do you own and how long have you had it ?
DivaTribe is a sole proprietorship, as is the freelance business that DH runs (web development). DT started in late 2001 (but wasn't always a business). The web biz started as it exists today in 1998 (if I recall). Before that it ran under another name and also included software for teachers that DH wrote. He was doing that when we met, in 1994.
2. I'm wondering what type of business structure (Schedule C, corporation, LLC etc) most small business owners are using ? Both of ours are sole proprietorships.
3. Do you have to file Schedule C once a yr or quarterly ? Also, do you need an EIN for sole proprietership ? The web biz does quarterly taxes; DT files once a year.
4. Do you use a personal accountant or do you do the taxes yourself ? We have a CPA.
5. Anything else I need to be to consider or any other helpful hints suggestions etc ? Like others, Dh and I save money aside to cover taxes. It's easy to see the money coming in and think, wow look at that balance! But when it's time to come up with tax money, you need to have the cash available.
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