Thursday, November 18, 2010

Good Tax News

י״א בכסלו תשע"א
Shamash 14

My stress level has just plummeted. I just finished talking to a very nice lady agent at the Illinois Dept. of Revenue and found out I only have to collect and pay sales taxes on sales shipped to customers living in Illinois! That makes things so much easier. My tax bill is also going to be so much cheaper than I thought as I have had only a handful of Illinois customers at most for all of 2009 and 2010 to date! The rest of my sales receipts (the vast majority) can be deducted via the interstate commerce deduction allowance. I'll probably owe less than $5 in sales tax when it get it all figured.


I've also ordered Deduct It! Lower Your Small Business Taxes for use when figuring my income taxes for 2010.

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