I am starting a business making gift baskets out of my rented home. I have permission from owner and am applying for all the necessary permits and licenses.
I plan to be a sole proprietor and have a fictitious business name. I have already applied for a business loan and credit card at my local credit union where I have a savings account. I wont have any employees and I plan to make about $5,000 a month gross.
I have been trying to find more information on how to file taxes and how much to withhold and how much and when to pay?
Say I make $60,000 the entire year-how much would I withhold? Would I have to pay quarterly? I'm just so confused on the taxes part. Any help would be greatly appreciated!
Submitted April 30, 2017 at 11:34AM by startingbasket http://ift.tt/2oY8ARd
