How do i pay massachusetts sales tax to the dor for my small computer business?
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ive been repairing computers since the 90s and tired of working for someone else i decided to start my own business in Massachusetts i have a business certificate a tax payer id and a state id so i'm almost ready to go i just need to know what else i need to do to, like how do i pay the state (is there some form i need to fill out every month or quarterly) and do i really need an accountant i have quickboks pos and quickbooks pro how useful are they it's a small business with me being the only employee.. thanks
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Answer:
Go here: https://wfb.dor.state.ma.us/webfile/business/Public/Webforms/Login/Login.aspx Register as Master Business Account. When you pick the types of tax you will be reporting, pick the Sales Tax. Once approved, you will be able to file your sales tax online. The DOR will determine whether you should file monthly or quarterly. Go here to read up on sales tax http://www.mass.gov/dor/individuals/taxpayer-help-and-resources/tax-guides/salesuse-tax-guide.html Make sure you do it right because if the DOR audits you and you don't do something right, they will get kinda pissy. Also, download this http://www.mass.gov/dor/docs/dor/forms/wage-rpt/pdfs/st-4.pdf and fill it out. Give it to all of your vendors so you don't pay the sales tax. Sales tax isn't supposed to be paid until the Consumer. As for QBooks, i don't like the program but it'll definitely do the job if you know what you're doing. Most people don't. So either hire someone to teach you or read up on how to keep a good set of books or hire a bookkeeper to do it for you. If you're fairly good with data entry (trained monkey work) then you can hire a bookkeeper to check your work and reconcile your books.
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Other answers
Go here: https://wfb.dor.state.ma.us/webfile/business/Public/Webforms/Login/Login.aspx Register as Master Business Account. When you pick the types of tax you will be reporting, pick the Sales Tax. Once approved, you will be able to file your sales tax online. The DOR will determine whether you should file monthly or quarterly. Go here to read up on sales tax http://www.mass.gov/dor/individuals/taxpayer-help-and-resources/tax-guides/salesuse-tax-guide.html Make sure you do it right because if the DOR audits you and you don't do something right, they will get kinda pissy. Also, download this http://www.mass.gov/dor/docs/dor/forms/wage-rpt/pdfs/st-4.pdf and fill it out. Give it to all of your vendors so you don't pay the sales tax. Sales tax isn't supposed to be paid until the Consumer. As for QBooks, i don't like the program but it'll definitely do the job if you know what you're doing. Most people don't. So either hire someone to teach you or read up on how to keep a good set of books or hire a bookkeeper to do it for you. If you're fairly good with data entry (trained monkey work) then you can hire a bookkeeper to check your work and reconcile your books.
Fred
if your business will be charging sales tax you need to register with the state's sales tax agency, you will get a state resale number and yes, you will file and pay sales tax on a schedule they determine for you as to your income tax, yes you will need to have some idea of your net profit each quarter to file forms 1040ES and pay your anticipated taxes in April, June, Sept and next Jan.
tro
if your business will be charging sales tax you need to register with the state's sales tax agency, you will get a state resale number and yes, you will file and pay sales tax on a schedule they determine for you as to your income tax, yes you will need to have some idea of your net profit each quarter to file forms 1040ES and pay your anticipated taxes in April, June, Sept and next Jan.
tro
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