TAXES, TAXES, TAXES!

Alright, this one is going to be more of a vent…

The the journey of starting the business has been going well so far. I have learned a lot and have successfully balanced out my day job, family and Moon Door. One thing about jumping into something and thinking you know more than what you do. You really know less than what you thought you did going into it. The result, STRESS!

So I messed up today, a function of again a function of a day job and family more than anything. Even more frustrating is this was the one thing I kept reminding myself and scheduling my day around. This was the conversation for my taxes. Not just normal taxes, when you start a business you have to figure out what is the best filing method for you. If you are a LLC, is it better to be a S Corp or a C Corp? If you need to buy items for the business how do you write them off? Depending on what type of business you own how do you properly pay yourself?

I wrote about 50 questions I needed answers to today. Mostly because I need to take the next step in the business. Also, I need to file my Business Licenses, in order to do that I need to decide how Moon Door will file taxes. Again, critically important stuff.

I meet with a customer.

I go to the store on the way home.

I check the clock and make a work call.

Then I got a call I had been waiting for all week.

You guessed it, minutes before my tax call and the sheer urgency of needing to answer that call made me forget about the other important call.

After the call I look at my personal phone, two missed calls. Sheer dread at first, a frantic call back with no answer. That soon became me cussing myself out for being dumb.

Now panic is setting in.

One note, I used LegalZoom to start the business. I also paid extra for some bells and whistles, one of them was the tax professional. I figured with my schedule it was best to have a one stop shop for what I need as I start the business. And yes, I will be writing a separate post about LegalZoom, the good the bad the ugly.

The next available appointment is March 5th, which is too late.

Here’s hoping LegalZoom can pull some strings…