(Denver, CO, USA)
From Ask the Expert:
My husband and I have opened a small sign company in April this year. I want to take care of the accounting system myself because it is not that complicated. The only thing i am worried about is the sales tax. Most of the services we provide includes labor but things like vinyl lettering also includes sales tax, could you kindly let me know whether i can file the sales tax myself every month or quarterly and which forms do i need to fill in. Thanks in advance.
And, yes, you can do this yourself. You live in the great state of Colorado, right? I'm assuming you already have a vendors license. Go to your state's web page as follows: www.colorado.gov.cs.Satellite/Revenue/REVX/1251608978938
This web page gives you the option to sign up to file and pay your sales tax online. Make sure you note whether you need to file monthly or quarterly, or sometimes every 6 months, depending on the info you used when you signed up for your vendors license. If you didn't get something from the state telling you how often to report, call them to find out. It's important.
It's quite easy to file online, all you need is your taxable sales, and it calculates the tax for you. Pay with your checking account. Be sure to print out the completed form for your paper records.
Thanks for the question - and good luck with your sign company!
If you have more questions, let me know. I'm glad to help.