Hello,
My Dad & myself are going to start a commercial cleaning business & already put a bid thats pretty much ours for 2 medical clinics. Both of us have full time jobs so we are going to split the days we do this. It pays about $2000 a month. My salary at my present job is $31000 a year
& my dad does small jobs which I don't think he files taxes for.
Now my question are as follows:
Would it be better for him to file the taxes or would it be
better to file as a partnership?
How do we take out taxes if we are billing them every 2 weeks?
I know we have to pay quarterly taxes but how much % do we pay?
I have quick books but I do not know if I take out taxes the same
way as if I were an employee or if its different as an owner.
I thought this was easy but the tax part seems frustrating. Also does anyone know where I could get cheap commercial cleaning insurance in TX?
Thank you for any help on this