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Hi Tom, do you mind answering these questions... I had them in my other post... sorry. Finances have to be completely separate. You can't take money of the corporation whenever you need cash. I understand I would need a personal checking/business account. How would I withdraw money to pay...

Ok Thanks! So this year I will just have to file taxes as a sole proprietor and add my business earnings and losses to my W2's from my old job? Couldn't I just be a sole proprietor for 2017 and file my taxes in April of the following year. I will have no 9-5 job just this business as a income...

Thank you! Do S-Corp save you taxes more then LLC? I'm trying to figure out how do I take money from my business (my only income) for my cost of living without getting in trouble. I know you have to keep personal and business separate but I have to live.

I sound stupid but when can I withdraw that money from Paypal... only business expenses? Thank you!

I agree. I just don't trust accountants and I operate my own online business with my own brand products. I guess I'm paranoid. When I check accountants near my area they all have no reviews or satisfactory reviews. Some of them have side business selling products themselves. They could see my...

Thanks again Tom! Just a few more questions if you don't mind. I think the easiest thing for me to do is register my business as a LLC. It will be just me running the business and it will generate about 100K-150K in gross sales a year. I'm not going to use an accountant and use quicken books to...

Thanks so much for the advice. So for this year I can just add my online income to my regular job W2's and still deduct business expenses I paid for? Let say I decide I want to keep track of my own taxes using quickbooks self employed. I will be the only one operating my business and will...

I understand what you're saying. Some people in this forum I think I can trust with their opinions. Yes, I most likely will see an accountant the first of the year. I would love to use a software to do it myself and pay quarterly taxes. What should I bring to the accountant? I'm sure they do...

Hello black hat world! I hope everyone had a great Holiday:) I was hoping for some guidance on my online business I really have grown over the last 3 years before the start of the New Years! For the last 3 years I have been full time doing a desk job making a decent salary of 50K a year. I...