Q: I just became an independent contractor. I read somewhere I only file state taxes if my income is minimum $400?
What about sales tax reporting? When and how do I do that? Read about reporting something quarterly. Is that if I make more than $400 yearly. I'm purchasing baby equipment to rent to traveling families. I use the company BabyQuip as platform and use their insurance. They only give a 1099 form to those that make min 20k profit.
A: The empty feeling you are experiencing is caused by fear of making big mistakes that will adversely affect your new business.
Why not contract with an experienced Florida lawyer to be general counsel to your small business NOW-before the state taxing authorities come calling?
Investing a few hundred dollars (tax deductible) in competent counsel will reduce the likelihood of errors and also give you some peace of mind as you focus on selling your products or services.
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