State Tax Question

[Serenity]

Can you use Turbo Tax Home & Business with state taxes? Has anyone in other words done that and it was okay with there photography business?

[mom2aidan]

i am unsure what the question really is but my husband owns a boat repair business in his spare time and he used turbo tax last year with regular taxes and his business. this year he used tax cut

[Serenity]

Well I guess my question is can I use the Turbo Tax information to do my state taxes?

[mom2aidan]

check on your box because hubby is saying that some versions wont do state taxes and it will say on the box whether it does or does not

[Serenity]

Thanks, I know there is a version that said Turbo Tax Home and Business Federal and State So I'll look at it more closely we are headed to Office Depot I want to get Quickbooks.

[CobyPhoto]

Turbo Tax, Tax Cut etc. have nothing to do with State Sales Tax (Texas doesn't have a State Income Tax).

Do you have a State Sales Tax Certificate? You must simply figure your gross sales, and follow the directions on the Web Site or Form you are sent by the Comprtollers office.

Just an aside: mom2aidan - IF you have no idea what the question is, WHY would you suggest a solution? Offering a wrong solution for an issue like this, could result in some very serious results for a business owner. Do you even have a state sales tax exemption certificate? Are you collecting state sales tax on all your sales?

I know it is getting picky, but if you do not have first hand experience with the question, Please DO NOT offer a solution, as it could well hurt the person you answered.

Thanks,

CJ

PS - I am a CPA, have a MBA in Finance and Accounting and have run a studio for 25+ years.

[mom2aidan]

no i had an idea what the question was, it was just phrased funny...sorry for offending you Coby...just offering my 2 cents and I was talking to hubby as he was standing here while I was answering the question and he said the 2nd "solution" i offered...so if you have a piece with him...speak to him...not me...i just misunderstood the question

[CobyPhoto]

Originally Posted by mom2aidan

no i had an idea what the question was, it was just phrased funny...sorry for offending you Coby...just offering my 2 cents and I was talking to hubby as he was standing here while I was answering the question and he said the 2nd "solution" i offered...so if you have a piece with him...speak to him...not me...i just misunderstood the question

I don't have a piece with either of you. However, you and your "hubby" did suggest the software erroneously, as Texas has NO State Income Tax and those software apps do NOTHING but Income Tax. Period. That should have been the first indiciation that something is not what it seems.

My point is, if you are NOT sure of the answer to the question, in this case, it is better to NOT answer as opposed to offering a possibility or what you think may work.

CJ

[mom2aidan]

well and i did not tell hubby nor did he read TEXAS on there

Can you use Turbo Tax Home & Business with state taxes?

i know this is TEXAS photo forum but i have found photographers on here from other states and this person didnt specify what state but you can you turbo tax/tax cut can be used for state taxes.
i am young and have only done taxes for myself ONLY once. other than that i have never had a job that paid me enough to pay taxes on and/or hubby has always had me on his taxes so i dont do taxes much but hubby is 9 yrs older than me and i was offering a solution via hubby's word

[CobyPhoto]

Originally Posted by mom2aidan

well and i did not tell hubby nor did he read TEXAS on there

i know this is TEXAS photo forum but i have found photographers on here from other states and this person didnt specify what state but you can you turbo tax/tax cut can be used for state taxes.
i am young and have only done taxes for myself ONLY once. other than that i have never had a job that paid me enough to pay taxes on and/or hubby has always had me on his taxes so i dont do taxes much but hubby is 9 yrs older than me and i was offering a solution via hubby's word

Her location is listed as Hurst...that is in Texas. Secondly, in another post, (One that you posted in) she stated that it was Texas State Tax.

I guess another way of saying what I mean is, as you are so young, no extensive business experience, have only done taxes once, you really have no business answering a post of this nature.

Please think before you answer, so that the person recieving the information won't act on it and possibly make their situation worse.

A better solution would be to watch, learn and see how the thread turns out, rather than offering a solution or information that can lead a person in the wrong direction.

As your husband didn't have all the necessary details, his answer is just as misleading.

CJ

[brad]

Texas does not have a state income tax on individuals. There is one on corporations -- only they call it a "Franchise Tax" .. but same animal, different name.

[CobyPhoto]

Originally Posted by brad

Texas does not have a state income tax on individuals. There is one on corporations -- only they call it a "Franchise Tax" .. but same animal, different name.

This isn't even true anymore. As of Last January 07, Sole Proprietors, Partnerships, etc., ALL are subject to the new Margin Tax. Therefore, even small business is subject to an income tax now. Better make sure your business doesn't fall under this new tax!

CJ

[brad]

Heh.. a generic "your" in this case since I am a Class C corporation... doesn't apply to me. :)

[CobyPhoto]

Originally Posted by brad

Heh.. a generic "your" in this case since I am a Class C corporation... doesn't apply to me. :)

Absolutely correct, but the Corp payes taxes and then you pay taxes on any dividends the company pays you! So you are taxed twice! I still think this new Margin Tax is worse, thou. I will just have to see how much it costs me this year.

CJ

[brad]

Dividends? LOL I think you have me confused with a business that makes a profit.

But yea, I do get double taxed regardless... but that's a political/tax law thread that I won't get into.