Hello Me and my wife just bought a tiny convenience store in Los angeles California. The store sells groceries, beer and wines and lottery. This is our first business and we would like to do our own taxes and accounting. What kind of forms need to be filled out every quarter? What need to be sent to IRS? Any other advice?
Thank you very much in advance.
If you have never done this before, then it is best if you hire a local accountant to show you how to do your paperwork.
This is our first business and we would like to do our own taxes and
big mistake. At a minimum you should have professional help in setting up your accounting records. If you start out incorrectly with bookkeeping you will lose tax advantages as well as ways to spot business mistakes (and opportunities)
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