conversation: User (steefkeef): "Student here with absolutely no financial experience. Reaching out here first before I speak to a professional in hopes of clearing a few things up. \n\nI started a social media company back in 2012. I have made 100% of my revenue through PayPal, and have yet to hear anything from them requiring that I pay taxes (they have my social). I am currently under a verbal commitment to sell my company in March and have tracked ALL of my business related expenses on one card. I have had no employees and I am currently the only owner. I also live in Florida. \n\nMy yearly revenues are as follows:\n\n* 2013: $1,379\n* 2014: $24,295\n* 2015: $55,490\n* 2016: $20,645\n\nThis year I have made around $4,000. The company is set to be sold  for $208k, with the closing being within the first half of March. \n\nI have had many expenses for the company. Mostly travel and film gear. I haven't done the math, but I estimate it to be somewhere within the $20,000-$30,000 range.\n\nI think I should also add that the company became "official" when it became an LLC in late 2015. I also filed for an EIN in late 2015.\n\nWhat advice can you guys give me? What kind of lawyer or professional deals with these types of things? Should I even look into speaking to a lawyer or go straight to an accountant? \n\nYou guys rock, thanks in advance! "
  Self: "A CPA will be able to help you sort out the financial aspects including properly recording income and expenses, filing previous year taxes and payment of amounts owed and any penalties.  A lawyer can help you understand the sale process, including anything you've already agreed to (which you should have had reviewed by a lawyer prior to signing, a few hundred dollars is more than worth it on a $200k deal), and also help you understand what impact the outstanding tax liability has on that deal.  I would start calling around for both on Monday and prioritize speaking to the lawyer.  Whatever sales contract you've made may include assurances from you about outstanding debts and tax compliance, if those statements aren't true you may have a problem."
  