E-Cigs, E-Cigs everywhere, and not an end in sight!

E-Cigarette Industry

Over the past few months, I am noticing more and more signs referencing

E-CIGS or WE SELL E CIGARETTES or FOR SALE – E CIGS

These signs seem to be sprouting up everywhere.

Are you someone that is already part of this fast growing market? Are you someone who wants to be part of this market?

As a CPA who is eager to assist those individuals starting a small business, I may be able to provide you with proper guidance BEFORE you begin to spin out of control.  

Here’s how I may help:

Obtaining Business Name and Identification Numbers 

With the power of the internet, it is very easy for someone to register a business name and apply for the necessary identification numbers….and, just like that, they are off and running.

I DON’T ADVISE THIS!  An hour discussion with me could prevent a few future headaches.

Minnesota Sales and Use Tax

Location, customers, resellers, online sales, online purchases, and more will play a factor in these types of taxes.  Did I forget to mention, you’ll most likely be filing a report MONTHLY!

Minnesota Tobacco Tax

You think Sales & Use Tax is complicated…well the Minnesota Tobacco Tax is no picnic.  And yes, you’ll most likely be filing this report EACH and EVERY MONTH!

Employees

Form W4, Form I9, Wages, Salary, Payroll checks, Direct Deposit, Payroll tax deposits, Payroll tax quarterly reporting, Form W2…do you have a handle on this???

Annual Income Tax Preparation

Do you realize that if you start a business on your own that your individual tax return (Form 1040) just received a turbo boost?  You will have a minimum of two additional tax schedules….do you know what they are?  I DO!

Give me a call at 763-786-7899 or send me an email at sriley@cpafirm.cc to discuss further.