Amy's web design business as a sole proprietorship

…In this video, we'll explore Amy's business,…one set as a sole proprietorship.…If Amy's Floral Business is a sole proprietorship, these are the forms and…fees she will have to file and pay in 2013.…The year is divided in four quarters.…Each quarter, she will have to pay estimated taxes by filing form 1040-ES.…And she will have to pay estimated Federal self-employment taxes using form 1040-SE.…The payments are due 15 days after the end of each quarter.…

This means that the payments for…the last quarter in 2013 will be due on January 31st of 2014.…On the third quarter Amy will have to renew her city and…state business tax receipts before April 15, 2014.…She will report income, losses, and expenses with a Schedule C.…These schedules transfer to her personal tax return, IRS Form 1040.…Now let's see how Amy's profit will be taxed as a sole proprietorship.…

As we saw in the previous video Amy's state tax is zero.…She lives in Florida where there's no state income tax or sale tax and…her company own less than $25,000 in tangible property so…