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Lissi
Joined: 18 Aug 2008
Posts: 1
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| Posted: Mon Aug 18, 2008 4:15 pm Post subject: hello, new here with question |
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Hello everyone,
Please assist me, I just got an ein# and then changed my mind about starting a business. Do I have to still file taxes with the fed for ever?
Thank you all for any helpful information. |
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stasia2003
Joined: 25 Feb 2008
Posts: 199
Location: FL
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| Posted: Mon Aug 18, 2008 7:57 pm Post subject: Re: hello, new here with question |
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Lissi wrote: Hello everyone,
Please assist me, I just got an ein# and then changed my mind about starting a business. Do I have to still file taxes with the fed for ever?
Thank you all for any helpful information.
Uh no. Just write a letter to the IRS with that EIN and tell them to cancel the number. :D |
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jdet
Joined: 06 Sep 2008
Posts: 6
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| Posted: Sat Sep 06, 2008 3:45 am Post subject: Re: hello, new here with question |
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| :) You can clarify this with your accountant simply. |
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Richard Noot
Joined: 20 Aug 2005
Posts: 912
Location: Minnesota
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| Posted: Mon Sep 08, 2008 11:47 am Post subject: Re: hello, new here with question |
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Lissi wrote: Hello everyone,
Please assist me, I just got an ein# and then changed my mind about starting a business. Do I have to still file taxes with the fed for ever?
Thank you all for any helpful information. Forever?? NO. Once you die you can PERSONALLY stop filing. |
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stasia2003
Joined: 25 Feb 2008
Posts: 199
Location: FL
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| Posted: Mon Sep 08, 2008 12:22 pm Post subject: Re: hello, new here with question |
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Richard Noot wrote: Lissi wrote: Hello everyone,
Please assist me, I just got an ein# and then changed my mind about starting a business. Do I have to still file taxes with the fed for ever?
Thank you all for any helpful information. Forever?? NO. Once you die you can PERSONALLY stop filing.
What's with the one-liners Richard? Are you bored today and need a good laugh to stay awake? :lol: |
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Richard Noot
Joined: 20 Aug 2005
Posts: 912
Location: Minnesota
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| Posted: Mon Sep 08, 2008 3:10 pm Post subject: Re: hello, new here with question |
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stasia2003 wrote: Richard Noot wrote: Lissi wrote: Hello everyone,
Please assist me, I just got an ein# and then changed my mind about starting a business. Do I have to still file taxes with the fed for ever?
Thank you all for any helpful information. Forever?? NO. Once you die you can PERSONALLY stop filing.
What's with the one-liners Richard? Are you bored today and need a good laugh to stay awake? :lol: Actually it is depression. It is my wifes turn to drive to work and I am stuck at home. That plus we are expected to get our first frost tonight. I HATE MN WINTERS. |
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stasia2003
Joined: 25 Feb 2008
Posts: 199
Location: FL
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| Posted: Mon Sep 08, 2008 3:22 pm Post subject: Re: hello, new here with question |
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Richard Noot wrote: stasia2003 wrote: Richard Noot wrote: Lissi wrote: Hello everyone,
Please assist me, I just got an ein# and then changed my mind about starting a business. Do I have to still file taxes with the fed for ever?
Thank you all for any helpful information. Forever?? NO. Once you die you can PERSONALLY stop filing.
What's with the one-liners Richard? Are you bored today and need a good laugh to stay awake? :lol: Actually it is depression. It is my wifes turn to drive to work and I am stuck at home. That plus we are expected to get our first frost tonight. I HATE MN WINTERS.
Hey you think that's bad. We're trying to negotiate with a Category 4 hurricane named IKE. Ike needs to go find Tina and leave us alone. I think it's going to miss us though, unfortunately it will probably go through Louisiana. |
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accounting-software
Joined: 10 Sep 2008
Posts: 4
Location: United Kingdom
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| Posted: Wed Sep 10, 2008 7:52 am Post subject: Re: hello, new here with question |
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jdet wrote: :) You can clarify this with your accountant simply.
Not everybody has an accountant :wink: |
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dp1903
Joined: 23 Sep 2005
Posts: 170
Location: Wichita Falls, Texas
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| Posted: Thu Sep 11, 2008 1:21 pm Post subject: |
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Quote: jdet wrote:
You can clarify this with your accountant simply.
Not everybody has an accountant
No joke. The last company I worked for had a business consultant set up their books. They didn't have an accountant review their books monthly, quarterly, or annually. Just had a CPA prepare their taxes, but he did not review their books. When I was hired I found tons of improperly recorded transactions going back to the start of the business in 2002 with Cost of Goods Sold overstated by over $250,000 on $700,000 of revenue, bogus accounts payable in excess of $30,000, and understated equity by who knows how much, at least in excess of $100,000.
These folks thought QuickBooks would do the accounting for them. lol. Garbage in, garbage out. Software does not replace the need for someone competent in accounting running the software. QuickBooks or any other accounting software does not run itself or catch your incompetence.
Bottom line: If you own a business of any size you need someone in the kitchen doing the accounting who knows what they are doing. Otherwise you'll wind up "cooking" the books, flying without instruments and will probably crash and burn. |
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