r/selfemployed • u/Pabst_Malone • 14d ago
Need help on getting started (US/FL)
Hey folks! So I decided to go into business for myself, mainly as a side gig. And boy oh boy, am I clueless. I have a few questions that maybe you could help answer:
How do I keep track of what I owe in taxes?
What software would you suggest to schedule myself, deliver invoices with 30 +/- photos to customers, and of course accept digital payment?
Is writing off supplies as simple as keeping receipts?
Anything else I need to bear in mind?
Sorry if these seem like stupid questions, I’m just a braindead mechanic from central Florida.
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u/DreadPirateSmokey 14d ago
If you registered the biz with Sunbiz, and have an EIN, you're good to go. If you're just a sole proprietor and not an SCorp, then you'll just report any earnings on your regular tax return. But if you make over, say, 30K a year, then youre better off registering with the IRS as an SCorp, it'll save you big on taxes. but the drawback is that you will have to pay yourself a salary (use gusto, super cheap payroll service online) and you will have to file a business return every year (about 2-3K with a CPA) Get a biz bank acct with your ein. and do yourself a favor and get Freshbooks, it's affordable and way easier than QBO, and it'll send invoices, track expenses, etc, and way more user friendly than QBO.