How do you all handle taxes for c2c?

I've seen the high level checklist shared: 1. create llc 2. open checking 3. use invoicing platform But I am wondering specifically, how are taxes managed? how do you track expenses or know what qualifies as an expense? just generally how does it work? Thanks in advance for the feedback.
2 Replies
deep-jade2mo ago
ideally, you'd use a business checking account and a business credit card, but not required. it's just there to segregate business purchases and profits in one statement i can't imagine any small business raw dogging their taxes by themselves, many use a CPA and they're not that expensive and a CPA will tell you what qualifies as an expense
other-emerald2mo ago
ok. makes sense. So you would just put normal business expenses on the credit card and CPAs can usually deduce what is a reasonable business expense and what is not? And how often do you report taxes?
Want results from more Discord servers?
Add your server
More Posts