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if you just started the business in 2007, your first tax return isn’t due until April 15, 2008 – make estimated quarterly payments if you feel you are making a profit (before paying yourself) – go to for publications, instructions and tax forms- for small businesses

If you are talking about income taxes you don’t have to file until next spring unless you are a corporation that chose a filing year different than the calendar year. If you are talking about sales taxes you don’t have to pay them unless you sell something; however, you will need to file a report showing that you didn’t sell something; especially if you have a sales tax number.

If you just started the business this year, you won’t have to file til April of 2008. The best way to file your taxes is to hire a tax adviser to help you determine what is deductible and what is depreciated/amortized. If you do not know what depreciated means, you should really really get a tax adviser. They’re your friends. It would probably be best to file a Schedule C. This will go on your personal tax return as a business. You should keep track of all your income coming in. Then keep track of all your expenses related to the business. Income minus expenses = your net. This is what you are taxed on. If it becomes a negative (you spent more money on the business than money coming in) then it’s a loss and it will lower your other income (if you had any).

Since it looks like you are doing retail work, depending on your state, you may have to file sales tax. That’s something that should be talked about to your tax adviser as well.

Go to the IRS website. All the forms, etc., that you need are there. You may have to order them, but they arrive within a couple of days. There are instructions for everything right there on the site.