Texas Sales Tax Filing Q&A with Loma Risper

Hi everyone, I apologize for the issues that I was having. I'm still— this is my first time trying to go live. Clearly I don't— haven't figured this out yet. The software I was using just wasn't working, but I do want to try to answer any questions you guys have regarding filing sales tax. I'm not sure if any of you have watched my video already that I have on YouTube, and it— where I go step by step on showing you how to file your sales tax. Let's see. There we go. That's great. Okay, so a lot of things, I'm gonna pull up my Q&A I had prepared for this live, and that way I can kind of go over those. And as you guys have questions, if you can just put them in the chat, I'll do my best to try to answer them. I prefer doing show and tell where I can show you on the screen, what it is that— oh, that's great. I'm glad you watched it. I prefer to be able to do like show and tell where I can actually show you what it is that I'm talking about and also try to connect the dots between what you're seeing and what it might be that I need to do to help kind of help you understand what it is that's happening for the filing that you're doing. Or if you're just trying to, you know, if it's your first time or if you've been doing it, but, or you've had somebody else do it. I've had that happen where Somebody actually made a comment and said that, that they had somebody else filing for them, a third party, probably their previous accountant or whatever, and then they needed to start filing for themselves. And so they had to go through the whole process of setting up an account. They had to connect the tax filing, the tax filing option for like sales tax or franchise tax to their personal profile. And so they had to do everything, but they were stuck on the part about getting their Webfile number. And if you ever, guys, you guys ever hear about needing like your Webfile number, you only need it once. I know that was a misconception that I heard about. Somebody emailed me and let me know that they were just like, they didn't get one for the next quarter. And I was like, well, you only get one Webfile number per year. Per tax account that you need to set up online. And so once you have that, that's how you connect. It's kind of like your secret code to connect you, the owner, to your tax filing account. And it gets mailed to you when you first open up your account. So you only get it that one time. But if you need it again or you can't find it, or you know, you've got that situation where somebody else was filing for you and now you've got to do it yourself, All you do is you can call the 800 number for the Comptroller. And in their automation, if you have the information for the last tax return that was filed, then they'll just automatically send you the Webfile number. In fact, if you've never filed before, that's another situation that people are in and have to deal with. If you've never filed before, then all you have to do is when you call that automation, as long as your address is up to date, you're okay because the that what they'll do is the automation will send that web file information to the last address on file. So where you might have an issue is if your address has changed and you've got to get that updated in order to be able to get the web file sent to the right address. But those are like the two ways to do it. And when you talk to a customer service representative, they can walk you through if there's any other steps that they can help you with as far as like verifying you to be able to mail out a copy of your Webfile number or even possibly give it to you over the phone. I know they're kind of stickler about that because again, this is about your tax account and they wanna make sure they secure your account and don't give your information to the wrong person. So it's important that they follow the rules when it comes to how you can get that Webfile number. I know our due date is coming up here on the 22nd. So I'm wondering, has, has everybody already filed, or are you still working on filing? Because normally it's due on the 20th, but because the 20th, I think, is on a Saturday— let's see, of course it doesn't want to show me that. So today is Wednesday, Thursday, Friday, Saturday, Yeah, so it's going to be on the weekend, and so they pushed it back to the 22nd to be able to file your tax return. But if you have your information, it's important that you go ahead and file as soon as you can, because what happens is that everybody that's waiting for the, for the last number— I'm sorry, everybody that's waiting for the last minute to file their tax return If you've ever noticed, when you go to the front page of the Comptroller's website, it's going to show you right there on the home page how many people are currently trying to file at the exact same time. And so their software on their website does get jammed up sometimes, especially if you're waiting till like the last day where people like all day are trying to get into the system. I know, I think it was, uh, it It was, I don't know if it was the last quarter where their system, or, oh no, I think it was the middle of the year, in the middle of the year. And I don't know if it was for sales tax or fran— it must've been for franchise tax. They were so slammed that they literally, they, the system could not pull up anymore because there were just too many people trying to file at the same time. It crashed. They literally gave us 2 extra days to file the franchise taxes. And I know this video isn't about that, but it's the same system that you're using to file your sales tax and your your franchise taxes. So it gets kind of, you know, it gets a little sticky over there when everybody, you know, Texas is huge and we have tons of small business owners. And so, and I believe that there's a good portion of the small business owners that are all trying to like, you know, do it yourself, and more power to you. And that's why I do what I do, is I try to explain, you know, what it is that might be like a missing piece out of the what you do understand and what And I'm just gonna be frank and blunt here. The government, when they, you know, let you apply for the accounts and all that, they do their best to explain things, but they have it on their website and not everybody knows, okay, I signed up for this new account, now let me go read their entire website to figure out how this works and what my responsibilities are. I see right here, use Says, I applied for my number using your video. It was my very— it was my first time. Oh, so you did like the full like sales tax application online and by watching my video? Or was that your, um, or was that just for your profile, like to be able to e-file? Let me know. I'm kind of curious because I have actually recorded a video where I did like a full Oh wow, I did a full video already. And, and forgive me, I have so many tutorials that I have screenshot and I need to go back in, edit them, and then do like the voiceover where I talk to you guys and explain to you what's happening from one step to the other. Oh well, the full application, more power to you, you did that. Because, um, I, I think I've only done like the online version once. for applying for a new sales tax number. And there were some parts where that, like, the questions where it asked to qualify you about, like, they want to know, okay, so here's their thing. On the application, what they're trying to find out is where do you sell what you sell. And if there's more than one place, like, say if you were going to different events and selling your product, they want to know, like, which events you go to how often you go to these events to sell. They're trying to make sure they can track what would match as far as like when you file. Does it sound like they filed what they said that they put in their application, like that they go to different events and everything? Yes, you must have been determined. There was like, there were some other questions in there that were like really weird. So I think I had to kind of work go back to the application when I got an error just to kind of work out, you know, exactly what were they asking for. So they could do, they could do a little bit better on their wording for what they're asking for in that application. But yeah, I'm glad that you got that. So did they already mail you your sales tax permit and that Webfile number and everything? And you know what, I think I'm going to try to make more of a point to when people are setting up their sales tax account or if they filed for an LLC, just making sure, okay. Okay, so for the— when they get their— when they first file that for their permit, for their sales tax permit or for their franchise, or when they— I'm sorry, when they first set up their LLC with the state, and they are supposed to expect that letter with the Webfile number. I'm going to make sure that people know, as soon as you get that Webfile number, go ahead and set up your online account. If you're going to file your own franchise taxes or your own sales taxes, go ahead and set up your profile. Go ahead and assign that tax to it as soon as that, you know, that information, those paperwork comes back to you. It's best to set it up then because Uh, like for example, when you set up an LLC, you don't have to file sometimes. It's almost, you know, it's almost a year later, like especially if you open one up at the beginning of, um, let me see, I think they would go by— so if it's in 2023, you wouldn't have to file till May of 2024. And so who's going to keep up with that number? You know, who could keep up with that number unless you're really good about keeping up with paperwork, whether you scan it and keep it in, uh, like a Google Drive folder, or if you type it up into like your notes in Google Docs. I use Google a lot for organizing my information and my clients' information. So like, if you don't already have a way to organize your information and keep up with notes and stuff, that the things that you know you're just not going to remember what it is or where to put it, that's a good place to put it, is to start typing up notes in like Google Docs. For like one free one, make one document like for each account that you have. Since I don't want to pay taxes, I know I don't think anybody does. My coaching is all audio. I wanted to see if I can avoid tax because it's education. At least that's what I want them to think. Okay, so categorically-wise, I'm not sure if there's an exemption for education. Because then I would imagine they would go into the sticky subject of, you know, whether or not you're accredited and all of that, and going through all those accreditation processes that they have. Overall, the rule of thumb is like, if you have a product, even if it's digital, if it can be turned into a physical or like resellable physical type of product, that it is taxable. And if you ever have like questions about like the— like if you wanted to see exactly if there's any instances— so the question you would do, you would call the Comptroller. I know it'll take a while to get to the, the reps because they take forever to get on the phone. I know they're busy, but when you do get somebody on the phone, what you do is you just, you just casually ask the question. I was wondering, are there any instances in which an audio file, if it's being sold, is— would it make it— would it not be taxable? And if you get somebody kind of nice where they're like, they're— you're not really trying to tell them that you're trying to avoid paying taxes, but you're just curious. So if you're curious, they're really apt to answer the questions and, and give you a good answer and even give you answers based on their experience, or they'll even go ask, you know, one of their co-workers to try to find out, you know, what's a good answer to give you while you're on the phone. So when I've talked to them on the phone, they're pretty nice about, you know, what it is that I'm asking them. And, and I'm almost always asking for other people, so I always have to phrase things the right way so that they don't say, okay, well, what's that person's account number? And what's the— you know, because I'm not trying to get anybody in trouble. I mean, I'm usually— what I'm trying to do is I'm trying to get people on track to do things the right way, or as right as possible, so that, you know, they can continue the business. Because, you know, who wants to— who wants to keep— who wants to do business and then all of a sudden, uh, somebody, you know, from the— from the government says, oh, you haven't been doing this and you haven't do that, we're shutting you down? And then your whole world crashes at that point because guess who's feeding the family? You, you and your business is feeding the family. If they go and say they're going to shut you down, you and your whole family's got an issue. So trying to get on the right track is really where I live in what I do and what I teach because I understand. Heck, I started out with my husband 30 years ago. Okay. So we've been married for almost 30 years. We've got 4 beautiful children. They're all grown-ups. I got 2 grandkids and everything. Uh, but my husband has always been an entrepreneur. Now me, I didn't start out that way. Um, I was more like, okay, I'll get a job because, you know, I haven't gone to college yet. And yeah, I, I've not gone to college yet, but trust me, life has been my college because every time my husband wanted to do something else in his business, I had to figure it out. And of course he would help me too, because he is a brilliant man, he really is. Uh, but everything that he wants to do, because he's so creative, I would have to sit there and go and look it up, make the phone calls, call all these different government entities, uh, call, you know, just read. I was in the library all the time. I— and, you know, okay, so I'm gonna tell on myself. I'm about to be 48. I'm about to be 48. And so I've been in that age where there was no internet. I've been in the age where there wasn't like the computer you use. I've been in the age where cell phones all of a sudden popped, you know. I've been through a lot of stuff. So I'm trying to take you all the way back to when my husband and I first started out. We were 18, 19 years old, and he's, you know, he's starting his business, and I'm having to go to the library because that's like practically the only source of information. And, you know, it took some years to figure it out, but then I realized, you know, like all these books in here— because we still didn't have the internet, uh, as, as one of the options that we had to really like get into because it just wasn't— it wasn't here yet. But, um, we had to— we were in the library and then I learned, you know, like every book You can't really just go off of what the book says because ultimately the book was written by a person and it was written from their perspective. And then when you read like the legal— when you read the legal stuff, it's confusing as can be, especially if you didn't learn all of the vocabulary involved. So it's a combination of using whatever resources you have at the end of the day, and I am so grateful So grateful for the internet now because now I can look things up that you would think that— I've been mistaken for being a CPA so many times. I mean, I mean, constantly. I've told people I am not a CPA, I'm an accountant, but I'm also like a business administrative professional. So anything that has to do with like, like administrative stuff, taking care of filings, applications, um, just anything that has to do with like compliance, things like that. There's a lot of that type stuff. I even learned how to do web designing, e-commerce. Um, I manage my husband's e-commerce website and manufacturing. I do a lot of stuff, but everything I've learned definitely builds me up. And I'm— what I'm looking to do now, I've kind of, kind of adjusted from being like a regular service provider where I just do like people's tax and stuff like that. I'm transitioning to where what I'm doing is I'm trying to get everything on courses, like capturing everything on courses. And then I've got a membership that I have right now on my website. It's at lomarisper.com. And you can see on the membership is, uh, when you sign up for it, what you do is you'll get full access to any courses that I ever create. And that way, no matter what you're trying to do, there's a good chance that I've got a course on it that'll show you step by step, screen by screen, exactly what to do. You get access to everything as far as the courses. You also get access to this private community that I have. And in the private community, what I do is I've got different categories set up and you're able to go in there and ask questions anytime you have a question about any type of business stuff. And what I'll do is I check it on a daily basis and I'll go in and I'll reply. And if your question, you know, requires like some research or something, I'll go in there and I'll even add the links to where I got the information from. So that way, you have something to go off of. And when you're looking at my response to what you were asking, and we kind of just go back and forth there. And that way, whatever questions you ask and how I answer it, the other members that are in there can also benefit from it. But that's all inside the private community. And you get like access to I'm like, you can ask questions anytime, literally anytime. And then on top of that, on a monthly basis, I do like a video call. I do like Google Meets. And what we do is we can— once a— for 1 hour every month, I'll sit down and I'll talk to all the members and answer any questions that they've come up with. And that way they can, you know, it's sometimes it's easier just to be able to say what is on that's on your mind, because once you ask the question, you're able to hear it yourself. And then when I reply, it normally starts you to have another question in your mind. And then when you ask that next question, it kind of just builds up to where, where you finally have that complete understanding versus just like typing it and asking the question. I mean, both ways work. But I think that is really valuable that like my members are able to like actually ask the questions verbally as well as in writing in that way, you know, I can support you, you know, as my members the best that I can. And like I said, you get access to all the courses, which kind of takes you step by step. You can, you know, watch them over again. I've already got one course on there that shows you how to file a regular, like W-2 income taxes. And then I've got the one for sole proprietors and business owners coming out very soon. Like I said, I've got so much of this stuff recorded. I just need to edit it and put it in that, like in an organized manner so that it's easy to understand. And that way you can go go through it. But did you have any sales tax questions while you've got me here? Just let me know. And just to kind of put this out there, at the end of this video I do have a— yes, ADP is expensive. I do have a little goodie I've got for everybody that's here on this live. What I'm going to do is I'm going to post it in the chat right before we kind of sign off. And I'll tell you about it when we get a little bit closer to the end, but I'm pretty sure you're going to be able to use it, whether you can use it now or you might need it later in the future. I think it's going to be very helpful. But let's see your question. ADP is pretty expensive. What payroll processor would you recommend that gives legit pay stubs "Some payment processors' pay stubs look janky." Yeah, and I would say that happens— the janky ones are because people are out there looking for ways, like especially entrepreneurs or even people that are not working, and they need like a check stub to show their— show whatever they're trying to do, whether they're trying to get into an apartment, a car, or whatever they're trying to do. And so there's, there's been like a whole bunch of processors that have come out that are not really like— they're trying to fulfill that market of people that want the stubs to get approved for stuff. But that set aside, uh, there is a, uh, let me see, I wonder if I can, uh, because I'm trying to figure out how do I, um How do I post in the chat at the same time? Let's see, that way I can send you— I can put the link in there for what it is that, that you're needing. I have this payroll company that I've been using now. They have two different services. The one that I've used, the only one that I've had experience with, is the one where they, they will do everything for you. They've got, they've got two levels of service on this, this website that I'm, that I'm about to share with you. And that service, the first one, the cheap one, and I know this is gonna blow your mind, I think it's like $6 a month. Now that one is not the one I sign up for because I want for them to do a little bit more than just do the calculations. I signed up for the $12 a month one. Still an amazing price. For, for, uh, for $12 a month, you can run your own payroll. The only cat— well, the only issue that I kind of have with them on that particular plan is that they won't, um, they won't do direct deposit for you. So you would have to either— you can print your check from their software, from their website. You'd have to go and buy the paper from like Staples or Office Depot to run your own payroll, or you could just go and get a bank check, like order checks and then write yourself a check whenever you need to write, or write a check to whoever you're trying to do the payroll for. But they'll, they'll have like the stub for you. They'll— and it'll be, uh, like a, a, a proper stub with all the, the deductions showing and everything. Let's see. Okay, so I'm going to copy the URL. Now they do have another service, and I'll have to— I'd have to look that up, um, for where they do the direct depositing, which is something that I'm I'm gonna check out at some point soon because I do have a client that I'm doing payroll for, but I'm sure it would make life so much easier if I was able to just set it up with a direct deposit as well. But for right now, they're just— they're writing checks to themselves. I'm running the payroll. It's all getting e-filed automatically. The payments to the state and to the federal government are all being paid on time. They're being filed on time. Everything is being done, and it's for $12 a month. Oh my gosh. Oh, you know what, I need to turn this other software off because it is killing my computer. It's having trouble functioning because it, it just uses up all the CPU, all the RAM, all of that good stuff is just being ate up. Okay. Oh, there we go. Okay, so now I'm gonna pull up my channel. Let's see. Okay, so the chat, I'm gonna paste it in there. Sorry, reverb. There we go. So Paycheck Manager, that's the payroll company. But $12 a month, yeah, you cannot beat it. They had, I think it's like a $10 startup for that particular plan. But if you go to their website, and I will definitely, the next time I go live, I'll have this whole thing where the software worked out to where I can actually show the screen and everything. I just This other one, it sucks. I probably suck because I don't know how to use it, but I'll do better next time. So I hope that helps you as far as your payroll question on which company to use. Yeah, ADP and even QuickBooks, I've used them before. It's a good, good software, but it can get expensive. I'm just not, not for, you know, if you, if you don't have a lot of payroll to run, it doesn't make sense to to spend more money on like more software, you know. Um, so that's why I've been with, uh, with Paycheck Manager for, uh, for a little while now. I think I've— I tried them out like back in 2019 for the first time. Excuse me for a second. Yeah, I tried them out in 2019 before and they did a good job. And I'd have to do some research to find a company because I wasn't happy with like the other standard companies that are out there and their prices just weren't hitting. I didn't want to pay as much as they wanted to charge. Okay, Mr. Anime Seeker, I believe that is. If you're behind on filing business taxes, the 1040— are you saying Schedule C? Do you file multiple 1040s by quarter, or do you file those late business taxes by the years missed? Okay, I think I'm a little bit confused. Are you talking about federal IRS income taxes, or are you talking about Texas sales tax? Can you let me know which one that we're talking about? Because, um, I'm not sure. When you say 1040, there's like a 10— a Form 1040 Schedule C for sole proprietors. Uh, the 1040 is just a regular tax return form for anybody, whether you're— you've got an individual or a business tax return. The Schedule C goes with that if you have a sole proprietor or a a single-member LLC, but that's just a once-a-year filing with the IRS. The only quarterly requirement is like if you, if you made a lot of money and you need to, and you think that you'll owe $1,000 or more when it, when April comes, you're supposed to pay quarterly taxes. And I'm not sure if that's what you're asking about if it's quarterly taxes, because there's kind of some rules that you have to deal with when it comes to paying your estimated quarterly taxes, especially if you pay late, because like the last deadline just passed literally yesterday. The 16th was the last day for estimated payroll— I mean, estimated income tax. Now, if you're talking about sales tax, because sales tax can be annual, quarterly, or monthly depending on how much tax that you're having to report, those can be— you'll be assigned how, how often you have to file. So say if you start out with quarterly, which is what most people have to file, then if when you start making more sales and they see that, that you file that, then they'll then they'll go ahead and bump you up to having to file monthly. So, um, yeah, let me know which one are we talking about. We talking about Texas sales tax on the state side, or are we talking about the IRS and the federal tax return? Because that one's only once a year except for the quarterly payments if you need to pay quarterly payments. Um, but the answer to The question I think is still going to be the same. So if you miss years of federal IRS tax returns, you have to file each one. So if you miss any, you've got to go back in and you've got to file every year that you've missed. Same goes with quarterly taxes, or if you were doing like Texas sales tax and you miss any, every one that you were supposed to file, you have to go back in and file it. And then my company files as an S corp. I pay myself, but I'm also looking to work for a company. Okay, would I have to file my personal and business? I'll need to be super savvy with write-offs. Okay, so you're gonna be okay. Mr. Anime Seeker, Texas sales tax or both, I guess. Okay, so yeah, that regardless of the tax return that you missed, whether it was supposed to be filed quarterly or annually, whichever one it is, you're gonna have to go back and file each one. And when it comes to— when it comes to the federal ones, you'll want to do those in order if you are missing any actual like annual federal IRS tax returns, like regular income tax. If you're, if you're missing any of those, you'll want to get those done in order. Just know that, say, if you were due a refund in, let's say, 2020— let's say you missed 2020 all the way up to now, right? So you got 2020, 2021, '22, and '23. Well, '23 is not late yet, so let's, let's focus on the old three. So in 2020, say if you're— you've got a refund in 2020, but then you owe in 2021, they're going to— they— if you file them all at the same time, what they'll do is they'll take out the taxes that you owe for the year that you owe for 2021 out of the 2020, or vice versa. Like, say if you owed for 2020 and then you got a refund for 2021, if you file them kind of around the same time, like you mailed— and you have to mail those in. If you file them all kind of at the same time, you're going to end up having to— what they'll do is they'll take out the difference of whatever you owed, and it's going to include your penalties and interest and all that good stuff. But there's a way to request once everything is filed and caught up, then you can do like a one-time request to get the penalty like refunded or waived. And then they'll send you the difference if they still owe you, or they'll send you a bill for the balance that you owe. But yeah, it's on the sales tax stuff. Yeah, you want to keep up with that. Remember, Texas is— Texas is harsher with what they do to people that don't take care of their compliance. Like, if you don't file or if you don't pay, they're harsher on you than that, than the IRS is. They're worse because Texas is gonna put liens against your stuff and start doing other stuff to your, to your assets and stuff faster than the IRS will. The IRS gives you like a lot of chances when they're— when you're dealing with them, they'll, they'll mail you a letter, and Texas will too, but the IRS will give you more chances to get right before they take action. And they usually only take action if you're just like not communicating with them at all. So they're actually not as bad when it comes to that part. You just have to kind of catch up and start working with them on that. Let me see. My company files as an S corp. I pay myself, but I'm looking to work for a company that file under my personal and business. I'll need to be super, super savvy with write-offs. Okay, so real important for the S corps. You do have to still file your— your 1040 is your personal tax return, right? And when you— if you were ever a single-member LLC, then you were filing pretty much like a sole prop, and that would be on the Schedule C. But now that you have the S corp, you're having to run payroll for yourself. And so you're withholding taxes from yourself and those are getting submitted and then you're matching it because you're your own employer. And then the rest of it that you don't pay out in payroll is going to come, that you're going to pay yourself in distributions, right? But when it comes to filing, the S-corp has a filing that's due March 15th where you have to file the 1120-S. Um, and I'll just double-check that. Let's see, so the 1120-S is due— yeah, March 15th. Okay, so March 15th is your due date for that, uh, for the S-Corp's 1120-S and for the Schedule K. The Schedule K— so you, when you file your 1120-S, there's a section that shows, okay, this is what the profit was that was left over, and that's what's going to end up on your K-1, and then your K-1 is going to get filed with your personal tax return. So when you do your 1040 for your personal tax return, it's going to be the W-2s that you got from your job. It's also going to be the Schedule K-1 that you got. And so all that income has to be filed together, uh, in the same return that you submit. Then that one is not— is the one that's due in April. So you'll have the, the one that's due in March, March 15th, and then you'll have the regular one that's due April 15th. And so yes, you, you, bookkeeping is going to be your friend. You're going to want to keep up with everything you possibly can. Um, I, it definitely helps to have, uh, either if you're not keeping up with it, make sure that you've got somebody else that you work with that you can, they can help you, um keep up with it. Um, like I said before, I— as far as, uh, persons, you asked, do I do personal taxes as well? I— yeah, I, I've been doing all of it for years. Um, now what I'm focused on is trying to teach people how to do it themselves. Um, and because I want to be able to, to be able to help more people, as many people as possible. And, and I found the only way I really can do that is instead of doing a one-on-one, I do it through the courses and like through YouTube and stuff. And that's why, you know, I set up my YouTube is so I could kind of start sharing what I know. And I know that, you know, I'm not the only person that need to know how to do it. But yeah, personal, uh, personal taxes is technically a sole proprietor is considered, is, is almost not even considered a business, but the IRS will still, then that's why the IRS has you file like that income. With your W-2s or any other income that you get. So yeah, it goes all together. But that 1120-S is technically your business tax return, but you don't— with an S corp, you're not paying any taxes there. You're just— it's basically just a report to let them know, okay, how much money did the company make and how much did you pay in salary, how much did you have in expenses, and how much did did you pay in distributions, like what was the profit left over? And then the profit left over ends up going on that Schedule K, and that Schedule K gets filed with your W-2s and any other income that you had to file on your personal tax return. So I hope that, hope that makes sense. And let me see, for, for The payroll taxes, yeah, you want to make sure you keep up with that too because that is— payroll taxes can be pretty wild. But if you're, if you're keeping up with, um, you're gonna have to keep like a, a spreadsheet that lets you know, okay, so how much money did you make, and making sure you're putting things in the right box. I'm going to share with you, um, a YouTube channel that I found recently that gives really good information on, on the different things that S corps have to deal with when it comes to filings. See, it's a CPA. It's a CPI, a recent found on YouTube, and I've been watching his stuff, and he does a pretty good job of explaining how this stuff works. And so I'm learning from him, I'm learning from, you know, various other, various other YouTubers out here, like, and I'm glad, you know, he's actually sharing things that people need to know. I think he's even got a course that if you were ever to— actually, I'm gonna share with you two different CPAs. I think he's a CPA too. One second, I'm sorry, give me just a second. I want to give you guys the right, like, sources of information. All right. Oh, I know why it's not showing up. Okay, so I feel like I'm not spelling his name right because I'm having trouble finding it. There we go, Naveen Maharaj. Okay, so I'm gonna, I'm gonna post two in the chat, and the first one, Naveen Maharaj He gives good information about explaining how stuff works. The second one, uh, is Boris Mushai. I'm not saying his name right, I'm sure, um, at all. I'm sorry. But, um, this second one gives a lot of good tips when it comes to deductions. So you, you'll want to check out what they have on their channels because I'm still going through their videos. I know this is really— it's tax season right now, so it's crazy busy. But, uh, yeah, Navee is, is really good with just kind of just telling you what it is that he's trying to explain. And he is taking complex issues and he's doing a good job of making them simple enough to, to understand. Like, I think I'm watching one of them right now. I've got one that I'm currently going through where he's teaching about the bookkeeping part for an S corp. And so you'll, you'll want to watch that one too, because that's, that's going to be like the— it's like when you go, when you first go to school and they start teaching you like numbers and letters and all that, that's like your base that you have to understand before you can start getting better understanding about how everything affects each other, right? So the bookkeeping is really important, and that's I'm going to get deeper into that. I've, I've done, uh, like I was doing bookkeeping for my services as well, for nonprofits, you know, for-profits. I've done bookkeeping, but I know, uh, QuickBooks is, is great. I mean, that is, that's the software that I use, but I don't know QuickBooks well enough like I would like to know. All right, I don't know bookkeeping well enough like I would like to know, but I am planning to get better versed in it because, um, even though I've managed to go all these years without needing to know like the nitty-gritty, now that I'm starting to, um, go deeper into like S-corps and C-corps and all of that, this is where I feel like it's going to be really important that I understand it like really clearly to where I would be able to explain it. So until I can explain it to you guys, I'm going to keep studying it so that I can make sure I understand what it is that, that's the most important parts that you guys need to know. Yeah, those are two really good channels, uh, and I think at some point I'll probably end up even taking that course. Like, Naveed has a course that, uh, he's selling a course. I think it I think it's like, it says like $1,500, but then he also puts like right next to it that he's got a coupon discount right next to it. So it ends up being like $500. I would bet anything that that's going to be a great course to go through considering the way he does his YouTube. So I will let you guys know, uh, once I purchase it and actually go through it. I've got a lot on my plate, so I'm not sure how soon I'll get to it, but definitely on my, uh, I want to get done list. QuickBooks has a deep learning curve, and I don't like their pay stubs, but they're legit. They are legit. So I can't fault them. There was a restaurant— I had a restaurant client years back. I can't even remember how many years back it was. Because my kids were still in school at that point. But, uh, he had a, he had a small restaurant, and then he decided to get like a bigger restaurant in addition to the small one. And the bigger restaurant, he had like 22 employees and stuff. And so I had to, because I was, I was working with his company a bit on a deeper level than, um, than I do, than I do with clients at this point, um, I was, I was close to being an employee, which is, which is not great because I wasn't supposed to be an employee, but there was just so much that he needed help with that I ended up, you know, spending a lot of time working on his business and payroll was one of them. Um, and to do the 22 employees' paychecks, I use QuickBooks. I use their online QuickBooks and I printed the checks myself. Um, right there at their restaurant, you know, on the printer that they had set up for me to be able to use. So I ran the full payroll. I never had any issues. There were times where, where he would hire somebody who say they were— and this is another thing. So when you set up, when you, when you hire employees, right, you set up your TWC account Setting up the TWC account with Texas unemployment, that's only one account you have to set up. You also have to set up with the Attorney General. I'm not sure if you know that, but when you have payroll, you're supposed to— and you start hiring employees, you're supposed to report to the Attorney General all of the people that you hire. And I think you also have to report when you let them go, or if they quit, or whatever as well, because the Attorney General in general is keeping up with who owes tax— who owes, sorry, child support. And so when I was doing this restaurant client's payroll, you know, he had, he had an employee that owed child support. And so because I was following the rules and I was reporting each employee as they got hired, they— the state of Louisiana sent us a letter or sent the restaurant a letter saying, please deduct XYZ amount of dollars out of this person's check, uh, for pay— I mean, for child support, and then submit it to us. So I had to set all of that stuff up. And because I was using QuickBooks, you know, because they're such a big company, they're already used to having all the, like, right connections to where it's, it's kind of like just at a click you're able to complete those type of tasks and be in compliance. So they got their pros for sure, but if you're running a small operation, I wouldn't necessarily just jump up and say, yeah, go get, go, go get QuickBooks for payroll. And their bookkeeping, uh, service, you know, everybody, you know, everybody who's— all these big companies that have good software, they've kind of moved to the subscription model. And so it can get— it, you know, it's, it's just gonna be another cost of doing business because the only way to really get their services is to use their subscription option. You know, it is what it is. If that's the level of service you need, then that's what you end up doing. I myself, you know, I have like my own subscription of Adobe, like to do these video YouTube videos and to like edit my courses and all that stuff. So I've learned how to use Adobe, but I ended up just getting like the whole cloud, and it's subscription-based, but I just pay for it by the year so I get a good discount and buy it during Black Friday because that's when you get a decent deal. Now, I don't know if QuickBooks does any Black Friday deals, but it'd be worth a, you know, a look to see whether or not you can get a discount on it if you end up needing them for that. But, you know, they are the, the one of the leaders when it comes to the bookkeeping, using them for bookkeeping. Does anybody have any other questions for me? I know I kind of go on it in some points, but I'd love to answer any questions that you have. Like I said, anybody who's got their sales tax that is due, make sure you hurry up and get those in. It's Wednesday right now. The sooner the better. You know, everybody's going to be just hitting that website. When it comes to the 22nd, you can always see how busy they are because remember, when you file, you can't just start and then stop and save where you're at. Once you file, you have to just keep going until you finish filing the whole thing. I mean, it doesn't take but a few minutes to file, but just know that, you know, if you're not able to— if you don't have all your information when you're filing, you're going to get you're gonna end up having to start over because it'll time you out. But you can check on the website, on the Comptroller's website, on the front, on the homepage, you'll be able to see where it says how many people are in there trying to file something right now at that moment that you look at it. So that's a pretty cool feature there. Let me see, question: Can I use business expenses to reduce the amount I enter for total Texas sales and taxable sales? That was one of my questions. I'm sorry, that is literally one of the questions I was supposed to be going over today. Okay, let me answer your question real quick, and then I'm going to pull up my list because I don't want to miss, uh, some of the questions that I wrote up that I felt like people would be asking, because this is one of them. Okay, so, um, Texas doesn't care about the expenses. They want the gross amount, so not the amount with the tax, the amount without the tax part. So say if you sell a $100 product and then you charge sales tax on that, they just need for you to put the $100. Oh, oh great, yes, the email has those, those questions. That's exactly what I need to plug. Yep, that's right. So on there, yeah, let me pull that up while I'm thinking about this. Do you want me to go live? Frequently asked questions. There we go. Okay, so the, the gross amount is what they want. They're not concerned with how much it costs you to produce that product. They want that top number that you charged Don't include the tax because the software is going to automatically calculate how much tax you should have, you should have collected. What you're going to add in though is if you had to ship it and you charge for shipping, shipping is taxable as well. So it'd be the price of the product, the $100, plus the shipping, and then those two amounts would have— was supposed to be what you would have taxed on. And again, this is— you would have been taxing if it's a Texas customer, that's who you would be collecting for. But the total Texas sales, that's where you'll enter that gross amount without any expenses. And then in the taxable sales, if— as long as— so let me, let me rewind this back. So if you sell on Amazon or eBay, those amounts, even though they're not being sold to people in Texas, All of those sales are supposed to be added to the total Texas sales. They shouldn't even write Texas sales because what they want is they want the full amount. They just want total sales. And then after that, the next box for taxable sales, they want the amount that you were responsible for collecting tax on. So say if eBay sold $1,000 worth of product for you and they collected the tax, they're going to turn that in for you. But the $1,000 of sales needs to be added to the $100 in product that you sold. So you'll have $1,100 in the taxable sales, and then in the— I'm not in— not in the taxable sales, in the total Texas sales. So Amazon sales, eBay sales, your sales from your website, or even if you were just selling hand-to-hand, all those sales, the gross amount goes inside the Texas— the total Texas sales. And then the taxable sales is only going to be the part that you were responsible for collecting. So if you only I sold $100 of product and everything else was sold on the other websites where they already did all this, collected all the taxes for you, then you're going to be, uh, only writing— you're only going to write the amount that you sold, which is that $100. And then that way they're only going to expect tax for the $100 from you because that's what all the— well, that's the only tax that you were responsible for, for charging. Um, Mr. Anime Seeker, does a Texas sales tax reduction involve a 1040 form. Okay, so you mentioned 1040-C, so wrap my mind around that. I'm not familiar with a 1040-C when it comes to sales tax, so I'm trying to look up and see if maybe I'm missing something. No, all the references I'm seeing, um, Texas, Texas, uh, yeah, the 1040. So when you file your personal tax return with the IRS, remember there's the IRS and then there's Texas, right? The state, federal. 2 separate things. Um, this video— I mean, this, uh, live was really supposed to be like to help, uh, answer questions about sales tax, but I can answer your question about the IRS return too. For the IRS side, the form when you file your personal tax return is, is a 1040, right? It's just plain 1-0-4-0, a 1040, right? And then inside of it, if you're a sole proprietor or a single-member LLC, there's a Schedule C. It's— the form is actually called a Schedule C, and you'll— that's where you'll write your income that you made for your business and all the expenses there. And then at the bottom, you'll come up with the net profit or loss, and then that amount will get put on page 1 of your 1040. So like, it's, it's all when you file at the same time. If— and I don't know if you're using a software. I hope you're not doing this by paper. I haven't done paper tax returns in years. I used to way back in the day, but once I learned that software was competent enough to know the laws for me so I don't have to memorize all the laws or know them all ahead of time, they would, they would ask the right questions so that you can answer. Software is definitely the best way to go. I use Express 1040. Free.com. That's a really good website. In fact, a lot of my videos are about using that software, so I definitely recommend it. It's free and you're able to file, you know, your tax returns for free using that software. But yeah, they'll have the 1040 in there, they'll have the Schedule C, because they'll ask you if you have a business, they'll ask you about what your expenses are, and they'll, they'll calculate everything. They'll move the numbers to the right forms, so you don't have to do any of that technical stuff. All you have to do is answer their questions. Let's see, was there another question? I'm gonna jump to that email. Let's see. So I did go over one of the questions I get asked frequently is, do I have to report my sales from other platforms that like Amazon, eBay, Etsy, etc., that collect the tax for me? So the answer is yes to that one. Remember, that total, whatever you sell on the other platforms, it goes in the total Texas sales box along with anything that you did like anywhere else, like if you sold it on your own hand-to-hand or on your own website, however you sold your product or your services. And then you just don't include the sales from there on the next box, which is the taxable sales. And that way you're not— they're not going to be looking at you to provide the taxes for all the sales you made on Amazon or Etsy or eBay. Let's see, the next question is, is what happens if I miss the deadline to file? If you miss any deadlines to file, the first thing that happens is you'll automatically be charged a late fee. Like, your account will be assessed that you're going to owe $50, and that's the normal, like, late fee for filing late. And if you paid late, right? If you take too long after you're late to file, I've been hearing a lot of I've been hearing a lot of business owners say that they got a bill in the mail, a letter from the Comptroller saying that they owed a $1,500 penalty of estimated taxes. They were freaking out, and rightly so, because if I got a bill for $1,500 out of nowhere just because I was late to filing a tax return, I I would be going crazy. But so here's the thing, all they had to do to fix that, to avoid having to pay that $1,500 penalty— like, they already got the bill, they don't have to pay it. What they do have to do— so that's the comptroller's way of saying, hey, hello, go file your tax return. That's literally what it's for. If after you get a letter like that, you go and file your sales tax return or even your franchise tax return, because I think both of them were getting these types of letters. If you go and file, like, it'll be in the— in your account, it'll say, okay, you can still file this tax return and this one, like, if you have more than one, and you just go through each one and file, it's going to say at the end of it, it's going to say you're going to owe $50 for your late fee, right, for your late fee penalty. Fee. And then you, you know, once you're finished filing all of them, and you know, you can choose to go ahead and pay, go ahead and pay at the same time you're filing. That way it's all done and over with. That way you're done and back in compliance. But that $1,500, you won't have to pay it. It literally is to scare the mess out of you if you don't file like you're supposed to on time, and to try to encourage you. This is not something that I saw them doing, like, for the— like, I think it just recently is happening, and then maybe in the last year or so. But yeah, $1,500 is about what I've seen several people tell me that they had to deal with, um, and they were so worried they were going to have to pay that. But yeah, uh, let me, uh, go back through these chats just a little bit. Um, let's see, who's on— So this— Mr. Anime Seeker, you said, so for Texas sales tax, you're just reporting the gross and whatever is taxable? Yes. So sales from everywhere, the gross amount goes inside the Texas sales tax, but the taxable part is only the part that you're responsible for collecting taxes on. So only your sales, because like nowadays going to sell— selling your product on other platforms is very normal. Like it's, it's happening way more now than it used to. And so to adjust for that reality, they, they still want to know— the, the comptroller still wants to know how much in sales are they making. Because, um, let's say if you're an LLC, then they'll also expect to see, okay, this type of like the information matching up to when you're filing your franchise taxes. I mean, granted— oh, then there's so many changes on the franchise taxes. I, I'm sure I'm going to do a YouTube about that too because, um, I know the old, um, the old rule is like $1.2 million before you have to pay it. You still have to file it, you know, you're filing that you don't owe anything even if you make sales because until you hit $1.2 $2 million or whatever, you're not gonna have to pay. But they've changed the amount and they've changed some filing requirements, so you'll have to stay tuned to one of my next YouTube videos. I'm not sure how long it'll be before I can get a chance to do that, but I've got to get to it soon because that information is very new and people need to be aware of what they need to do when it comes to their LLC and filing their franchise tax return. Okay, um, you're asking about why don't you have to pay the sales tax on the sales for the other platforms, because the other platforms— yep, it increased to 2.4 million. That's right. Um, the— okay, going back to the, the question of why don't you have to pay So you're only having to pay— let me, let me go back just a little bit. So when I'm talking to, um, to you guys like on YouTube and, and even my clients and stuff like that, or my members, um, when you sign up for a sales tax permit, the purpose of it is just to get permission to do business in Texas, right? You have to have permission from the state saying that you're going to conduct business in Texas, and you're going to be selling a product or a service that's taxable, right? So that's just like the agreement. You get a permit to work in Texas and run your business in there. Now, one of the requirements they have is that you have to charge your customer sales tax. And when you charge your customer sales tax, you also have to file the tax return and turn in money. So a lot of business owners kind of get this a little bit confused, or, or it's just they're just so used to getting hit by fees and taxes and all that. The sales tax is not something that the business owner is paying. The business owner only collected the sales tax from the customer and then turned it in, right? So it's not your out-of-pocket cost. Now it is your out-of-pocket cost if you accidentally decided you were going to spend the money that you were supposed to put away to the side so that you could turn it in when it was time to file your sales tax return. You're not supposed to spend the money. I highly recommend that you go and open up a new bank account, like a separate bank account, you know, do it at a credit union if you have to where they don't charge you any monthly fees, and put the tax money in there so you're not, you know, you can just go go like this. When it's time to file, you can finally open your eyes, look what's in the account, and hey, I can pay the tax, the sales tax, because I put all the money in the account like I'm supposed to. Don't spend that money, guys. Oh, let's see. Oh, I'm sorry. Okay, so the $1,500, right, you don't have to pay that. It So it's called an estimated tax penalty. Anytime you don't file your tax return— and this happens with Texas as well as the IRS, right— if you don't file, they're gonna go in after a certain amount of time and, uh, make an estimate of what they think that you made, right? And then they're going to charge you They're going to expect you to pay the sales tax for what they think you made based on your industry, maybe based on your previous, uh, reports that you filed, just based on, uh, other businesses that have the same type of business. They're going to estimate what they think that you made and send you a bill. But ultimately, the estimate is— it's Purpose is to scare you into filing your tax return. So once you file, it overrides what they estimated, right? You don't even have to worry about the estimate anymore. So filing on time is great, and then you won't even get one of these estimated letters because the IRS will do the same thing where if you don't file for years and they have proof— because remember, when you work for a job Your W-2 information is being reported to them. They— though, at the same time that they have to get it to you, that by January— by February 1st, January 31st, those things have to go out. They're sending it to you and they sent it to the IRS. So you can't hide from W-2 income, you can't hide from 1099 NEC income because those reports are being sent straight to the IRS. So the IRS has a list of everything that somebody else said that they paid you. So you're going to have to make sure you file your income tax to make sure that stuff's included on it. So yeah, you, you just, you don't want for the IRS to go around trying to make assumptions either because, uh, they on the other hand, when they do an estimate, they're gonna make you come up with— you're gonna have to show like paperwork and stuff. You might even end up in an audit, uh, when it comes to the IRS making an estimate of what they think that you made because you didn't file your own tax return, right? And they're not going to, they're not going to put in any expenses or any of that. So if you're a business owner, then you really don't want them to estimate your tax return because the IRS is just going to put the income and not the expenses. And then you're going to end up having to do like an amendment to override the estimated tax return or the one that they came up with. With, right? Y'all have any other questions for me? I think we, we've been on here for about an hour. Um, I'm hoping I'm, I'm getting you guys, uh, questions answered correctly. Let's see. Uh, so that's the part I'm confused on because I got that $1.5K letter in the mail. So what exactly am I reporting? That's where I'm lost. Okay, so, um, that letter is about a specific tax period that you didn't file, um, all you have to do is log into your account and file the late tax return. Like, as soon as you file, the website will update and say, okay, you owe $50 for the late fee, right? And then you won't get charged. It's, it's going to make that 1.5 disappear. Because that— in fact, the website's not even going to say anything to you about the 1.5. You got that letter, but your account, when you log in, is— there's never nothing in there that says anything about the 1.5. The 1.5 is going to stand if you fail to file, right? If you just keep not being compliant and you don't file your tax— taxes, then you're going to end up Uh, you're gonna, you're gonna end up getting hit with that, and then they're gonna go after your assets, like your bank account and stuff. So all you have to do is file, and that solves that problem. Does that answer your question? Um, also, I think we, I think we, I don't know if I've gotten kind of everybody's, uh, questions again. I think this is a pretty decent— despite all the tech issues, and I do apologize, I will do better. And I'll probably— you might even accidentally see me live, uh, and I'm— and I didn't announce it. It's probably going to be because I'm practicing and trying to figure out how all this stuff works to make sure I do it right. Um, my husband goes live all the time, so— but he— and he uses another software, so I'm probably going to use what he uses because He, he goes on a live on all the platforms. I don't know if I'm gonna go that big. YouTube's my main one, but yeah, I'm gonna have this better for you guys next time. That way I can show you what I'm talking about at the same time. Oh, I forgot the questions. Let me make sure I didn't— let me make sure I didn't miss anything that was really important. Thank you. I appreciate you. You're saying if this was the best, and thank you. I really do appreciate it. Doesn't show your name, or unless Let's Go Viral is your name, because that's pretty cool. Uh, can I use, uh, business? Okay, okay. Um, just in case, uh, one of the questions I, I put on there that I get asked a lot are what are taxable purchases. Okay, so when you're, uh, Nancy It's good to meet you, Nancy. I think I saw you signed up for my, or my email, um, and subscribing as well. Um, the taxable purchases, okay, in case you don't know what that is. So say if you, let's, let's say you have a t-shirt company, um, and you bought wholesale, um, Yes, Mr. Anime Seeker, when you, when you log into the Comptroller's website, answer the questions about your sales for that, for that quarter or that month, whichever one that you, you haven't filled out yet, whichever return you haven't filed, and just file it. When you submit it, it's gonna tell you that you owe like the late fee plus whatever your sales tax is, and then It'll be all good. And then, I'm sorry, going back to the taxable purchase question. Okay, so say if you have a t-shirt company, just real quick, and you, you bought wholesale from another company, so you didn't pay tax when you bought those shirts, right? And then you resold the shirts. Now, when you sold the shirts, you took 2 of them out to give to your, your daughter because she wanted some of the shirts, right? Those 2 shirts you took out, you're gonna have to pay the tax on those 2 shirts. So in taxable purchases, you have to put the value of those 2 shirts, what you paid the wholesaler for it, you've got to put it there so that you can pay tax on that amount just for the 2 shirts because they were taken out of the business use and turned into personal use. So that's what taxable purchases are. Um, then we talked about charging tax on shipping. Um, the tax— total sales with the taxes. Um, I didn't go over the resale certificate. Uh, does any— anybody have any questions about a resale certificate? Um, That is basically just a form that you can download off the internet from the Comptroller's website. A resale certificate is what you would give the wholesaler that you're trying to buy from, where you want to buy without paying taxes because you plan to resell the shirts that you're gonna, you know, that you're buying from them. So instead of you paying the wholesaler tax, you're gonna pay with, uh, pay for the product by itself and no tax, and then you're going to be responsible for charging the customer tax. Now, the wholesaler has you fill out a resale certificate. So if you don't— it normally they have it there, you know, at the location, and they have you just fill it out, and they have you show your sales tax permit, and then they go ahead. As long as it, it makes sense, like you're, you're— if you're buying t-shirts, you you're going to a t-shirt wholesaler, not a— you, you buy— you're buying purses, but you're supposed to be a t-shirt reseller or something, you know, where, where your permit doesn't match what you're trying to buy tax-free, right? So that's kind of their only responsibility. But having that— having you fill out that resale certificate, that keeps them from getting in trouble with the comptroller, because the comptroller can always go back and say, why didn't you charge charge this person tax because this permit doesn't cover this purchase, you know. And then they would be on the hook for paying the taxes for what you didn't pay. So, um, that's what— how the resale certificate works. It's just a form. It's really simple. If you need to get it yourself, you can always, uh, Google it online or go to the comptroller's website. They'll have it there to download, and you just fill it out and you take it in. And like, same goes for like if you were buying, uh, equipment. Like say if you were a t-shirt printer, that printer you buy, you can buy it tax-free because you're going to use it in manufacturing your product, right? And if you're buying a big printer, like say if you had a, a direct-to-print garment printer, those things cost like 10, 15, 20 grand and, and even more than that. And so imagine the amount of tax that you would have had to pay if you don't fill out a resale certificate and use your permit to avoid having to pay that tax, right? So that's how the resale certificate works. Somebody asked, if you don't have any sales, do I still have to file, and how do you file zero income? So if you have a quarter, like say if you're not doing a lot of business or you're just starting out and you don't have any sales at all, like from nowhere, You're going to— you're still going to log into your account and you're going to choose the quarter that you need to say, okay, I didn't have any sales for this quarter. There's going to be a box that you check and just check that box on there that says zero sales to report. When you click that, it's just going to have you keep going through the next steps to finish the tax return. But ultimately you'll be filing a zero tax, zero sales tax return. That's what it's called. But it's, it's basically just letting them know that you didn't have any sales, but you're still filing because you have to. Because if you don't, you still get charged the $50 penalty, or you might get one of those 1.5K letters for estimated taxes owed. So you don't want either of those. If you don't have any sales, go report it and let them know for this quarter or this month or this whenever, even if it's you file on an annual basis. Like if you really are not doing business at all, or you put your business on pause, uh, one year and you don't want to have to keep filing like so frequently, you can always call the Comptroller and let them know that, uh, what's going on in your business, that you're not really trying to close your account, uh, and you, you'll keep filing, but you want to know, can you switch to like a monthly, or I mean, to a quarterly or annual filing so that you don't have to file so frequently, you know, because that, that's like an administrative cost to have to do that paperwork, you know, so frequently, especially if you're not making any sales. So yeah, so yes, you do have to file even if it's zero, but make sure you file on time so you don't get hit with a $50 penalty. So I did promise you guys a goodie at the end. I'm gonna put the link in the chat. Second. Okay, I did save it over here. I know multiple times through this video I did talk about the $50 penalty. Wouldn't it be great if you didn't have to pay it, or if you can get your money back if you already paid it? If you think that's cool, let me know. Give me a one or something. Let me know that you that you'd like to get your penalty waived, or you would like to get a refund if you've already paid it. All righty, let's go. Um, they have a form, um, that you can get, and I put it on my website. All you have to do is enter your email, um, and click the download button. It's going to send you an email. It's going to give you the form you fill out, and it's a very simple, super simple form to fill out. In fact, it's so simple, I— when you, when you add your email to that, that website, when you go in there and you add in your email and you download the form, I also provided a sample filled out version of the form. All you have to do is follow along what I put in the sample for what applies to your company. So in company, in where it says the company name, you know, you just replace it with your information. Um, with this form, and this is a cool form here because what happens is that, um, they have their rules, but their rules are pretty good because what it is is that with this one form, when you fill it out, um, it lets you It lets you get— and this, this form, whether you paid penalties or late fees or have some that you need waived, whether it was for sales tax or franchise tax, is still the same form. And you can fill it like whether you're asking for franchise late fees waived or if you need sales tax late fees waived, you can put it all in the same form at the same time. Like it's kind of like a bulk request, right? So you can list out each fee that you want waived or, or refunded, and they'll actually refund you the money that you paid, right? So it'll ask you like, which, which one is it for? Is it for franchise or sales tax? It'll ask you what's the end period So if it's an annual return, the end period would be December 31st, 2023, or whatever, you know, applies to your situation, because it could be from a previous year too. Um, and then it'll ask you, uh, let me see, what was the other question? The year the report was due. Okay, so what year it applies to. So say if you— if it was like an end-of-year one and you're filing it in January, or it was supposed to be filed in January, you would still write that it was for the previous year because that's the tax year that it's about. And then it'll ask you what's the amount for the penalty that you're asking to get waived. So that's either going to be the $50, or if there's some other penalty that you end up seeing when you file your tax return, um, whatever that amount is, put that there in that last box. They've got it, um, the form automatically calculates the total for you. Um, so it's a, like I said, it's a super simple form. Uh, they've got one box in here they want you to explain briefly why should they do it, why should they waive it or give you a refund. And, um, I gave you a sample, uh, in that when you download this, uh, this form you'll be able to see the sample, and I put a sample explanation of why, right? Um, as long as you don't say things that make you look like you were doing it on purpose, I'm pretty sure any general explanation will work. But check out the form. I hope you like the sample, and then make sure you fill out the contact information at the bottom. It doesn't require a signature. Or anything. But after you finish filling it out, you can email it to the email address they have at the bottom. And when they finish processing, they'll, they'll send you a letter in the mail or even a check in the mail if you— if they're refunding you money. So that's pretty cool. And, um, you're with this form, um, let's see, it says their maximum waiver is 6 6 monthly returns. So say if you're— you were supposed to file your sales tax monthly, you can do up to 6 of those, or 2 quarterly reports. So say if you missed 2 quarterly or you got 2 fees, 2 quarterly returns weren't filed on time, you got hit with 2 $50 fees, then you can get that refunded. And then you've got another one, or if you had like an annual period. So, and that's like a maximum waiver per taxpayer. So it says you can ask for more than one period, but just make sure you list each one separately, like for each tax return, each tax period that you're responsible for. So that's pretty good. Um, Mr. Anime Seeker says, so if your business isn't making money at all that quarter and you file on time, you're good for that quarter in terms of late fees or that $1K. As long as you file, you still have to file, and you have to click that box that says zero sales. That's the only way that you're gonna be okay. All right, I hope that, uh, I hope that this has been an entertaining and educational experience experience. I'm definitely gonna work to make this an even more productive live the next time. I'm not sure when I'll go on live next. Like I said, it's a— it is tax season, there's a lot of stuff going on. But I know I want to get my courses done, I know I want to get more YouTubes done to share more information and more goodies, because I have so many more, trust me. And I want to share them with you guys. So definitely check out my membership because, you know, those, those are the folks that are definitely going to get the tea on anything that I can find for them and especially help them with your, your individual situations. Because, you know, there's no cookie cutter business type out here in the world. So usually, you know, being able to ask somebody your specific question is where you get most, the most value out of I feel like out of my membership is being able to ask me, so what do you think about this? Or what about this situation? You know, you're able to ask in the membership anytime because like the community is always open and I just go in and I check and see if does anybody ask any new questions and I go in and I answer them. We're kind of in the beginning stages, so you'll probably get more of my attention now. And hopefully at some point my veterans in the membership, we'll be able to answer questions as well. And you guys, I think you guys are right on point with, with picking up everything that I've been saying. And I'm glad that we could share today together. This again, this is my first live, so, you know, I'm glad you guys were here to join me. You guys take care, and until next time. And I'll try to send out a reminder if, even if you don't sign up for the membership or like for my coaching program or anything, at least sign up for my weekly tips on the front of my webpage, which is lomorispa.com, and that way you can keep up with some of the other stuff that I put out. And I also do send out an email whenever I do— thank you, thank you so much— I also do send out an email whenever I do plan to go live next. So I was super nervous, but yeah, we'll do better, we'll do better. I'm glad. Hope everybody enjoyed it. Until next time, guys, I'll see y'all later. Bye.