Taxes, forms, regulations for new small business

[kokopoko]

I decided to hire an employee and got myself a federal tax id#. I'd like recommendations on payroll software, accounting software or how you keep the books. Any book recommendations on small business regulations, laws to abide by, etc.

[Calumet]

Why not subcontract out your work? It is much cheaper and easier in the end.

I would recommend Acemoney for bookkeeping, it is a relatively simple and inexpensive package, but I find it much more user friendly than the other big packages.

[vkaryl]

QuickBooks is about as simple as you can get. All the screens look like your paper stuff: invoices, receipts, checks, drafts, deposits.... QB handles all the double-entry in the background as you complete the "paper on screen" stuff. It's easy to update/upgrade, and will export to Excel without a hitch. Your tax accountant/CPA might even use it, in which case you simply export your year-end to cd and hand it to him....

[Edit: if you need superb inventory control, you'll need QuickBooks Pro.... AND there's now a version for contractors of the build-a-house type, but which is what I use for my web business.]

[percentages]

QuickBooks works for me also!

There are two distinct issues:

1. How to abide by the regulations

2. How to make the most of the regulations.

For me QuickBooks will satisfy the first, no question about it!

For the second you need a very good tax attorney. Not easy to find!

Either way, QB is now the accepted standard for accounting, especially if you are USA based :)

[tictoc]

Has anyone tried the Quickbooks Online edition? I am thinking of trying that... It has all the features of the Quickbooks Pro edition but its all online.. seems so much easier to me than syncing between computers.

[tictoc]

I am thinking Quickbooks may be better... everyone seems to interact with it!