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CPA's
Posted by:
Jon Meyers
(---.sta.embarqhsd.net)
Date: May 05, 2015 10:55AM
Been researching for a while on how to go about selling fishing rods. Most of my research has come back to me talking with an experienced CPA so I don't miss any tax payments or write offs. So, I started researching CPA's in MN but noticed I really don't know who to be looking for. Any one know of any CPA's with experience in Excise tax?
Thanks, Jon Re: CPA's
Posted by:
Donald R Campbell
(---.lsanca.fios.verizon.net)
Date: May 07, 2015 11:08AM
Jon,
I would be surprised if your profit margin on a new rod building business can absorb the costs of a CPA. The Federal Excise Tax, (FET), is not difficult to understand. The tax amounts to 10% of the completed rod costs, including your labor costs, to a maximum of $10 per rod. The FET is due to be paid at the end of the month following each quarter: Jan., Feb. and March FET due at the end of April, etc. Don Campbell don@sensorfishingrods.com Sorry, only registered users may post in this forum.
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