# how do I figure out how much money I need to pay in taxes?



## moneymadness (Dec 3, 2009)

when i get a tax id number once i get my t-shirt business off the ground and start making money how do the irs determine how much money i need to pay in tax's off my t-shirts. also is there a book out there that tells you everything thats a tax write off. if so where can i get it


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## splathead (Dec 4, 2005)

Your tax question has nothing to do with permits and licensing. Those are separate issues. 

Regarding taxes, the IRS has a lot of free publications on their website Internal Revenue Service

There are also tax books you can buy in a bookstore, or software like quickbooks you can purchase.

Generally, anything spent to conduct your business is a write-off. Examples include shop rent, supplies, equipment, advertising, business telephone, letterhead, postage, etc. Some types of expenses have limitations, like entertainment, vehicles, etc.

I would strongly consider having an accountant set you up, walk you through what is deductible, and file at least your first year's tax return.


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## drudalton (Dec 3, 2009)

The state should give you your sales tax rate for your state and county with your resale certificate. I know it can be a nightmare figuring all this out, so as splathead mentioned, I'd get help from an accountant.


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## taricp35 (Dec 10, 2008)

Ditto Splathead. Get a CPA and let them handle that. It will save you a lot of time and headaches.


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## flattop (Nov 7, 2007)

taricp35 said:


> Ditto Splathead. Get a CPA and let them handle that. It will save you a lot of time and headaches.


How much is it for a good CPA and how did you find yours?


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## turboinferno (Dec 15, 2009)

I would like to know the answer to this question also . Im guessing H and R block isnt gonna cut it?


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