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
rare-sapphire•4mo 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
harsh-harlequin•4mo 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?