GagesVending Posted January 18, 2013 Share Posted January 18, 2013 I don't exactly want to hire someone to do my taxes for me...I'm thinking about using Turbo Tax Home and Business. Would this work well for vending? It's inexpensive but I'm not sure if it would find all of the deductions and whatnot that apply to vending. I'm in Oregon, so there's no sales tax, but still business income tax. What should I do? Link to comment Share on other sites More sharing options...
shepherdsflock Posted January 18, 2013 Share Posted January 18, 2013 No sales tax would be awesome! I just do my taxes myself. However, depending on your route size and your business structure, doing it yourself might not be a good idea. My route is small and it's a sole proprietorship. Link to comment Share on other sites More sharing options...
sherlock Posted January 18, 2013 Share Posted January 18, 2013 However, depending on your route size and your business structure, doing it yourself might not be a good idea. I agree 100%. Much depends on your route size and/or what other things you may have in your life that affect your tax requirements. Personally, I've checked out turbo tax in the past and was wholly unsatisfied. I think those programs may be better suited for those with less difficult tax-preparation needs than some business owners have. Link to comment Share on other sites More sharing options...
GagesVending Posted January 18, 2013 Author Share Posted January 18, 2013 Thanks for the advice guys! My route consists of 29 locations, but some of the best locations have more than one stand of machines in them. I'm going to gather my sales receipts, purchase receipts, etc. and ask my brother-in-law, who does his own taxes for advice for how to go about preparing my taxes. Link to comment Share on other sites More sharing options...
mission vending Posted January 20, 2013 Share Posted January 20, 2013 I don't exactly want to hire someone to do my taxes for me...I'm thinking about using Turbo Tax Home and Business. Would this work well for vending? It's inexpensive but I'm not sure if it would find all of the deductions and whatnot that apply to vending. I'm in Oregon, so there's no sales tax, but still business income tax. What should I do? I personally have a CPA do my taxes every year. In your case, unless you have other things that complicate your taxes, I'd find a good tax preparer and let them do this years taxes for you and then you can use it as a guide in the following years. Link to comment Share on other sites More sharing options...
TKK Posted January 26, 2013 Share Posted January 26, 2013 Do you guys usually get a return or have to pay? Link to comment Share on other sites More sharing options...
treadmill Posted February 13, 2013 Share Posted February 13, 2013 I use a CPA. I go into his office and come out ln about an hour and all my taxes are done (personal, truck business and vending business) all done and no worries because if I get audited he's right there when it happens. Best money I can spend. Also the cost of the CPA is a tax deduction. Link to comment Share on other sites More sharing options...
Hillbilly Posted February 13, 2013 Share Posted February 13, 2013 I use a CPA. I go into his office and come out ln about an hour and all my taxes are done (personal, truck business and vending business) all done and no worries because if I get audited he's right there when it happens. Best money I can spend. Also the cost of the CPA is a tax deduction. This is very good advice. I use a CPA as well. It is worth it to have peace of mind. And when you start depreciating vending machines it can get complicated. Link to comment Share on other sites More sharing options...
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