Taxes - What Business Activity Code and Busines Type?

[jrstephens]

How do you describe you principal business type? Just say "direct sales"

What Business Activity Code do you use? I have NO IDEA about that and there is SO MANY to choose from!

I NEED HELP FROM YOU CHEFFERS!

I think I can do everything else, notice I said think.

 

[jrstephens]

Just bumping up - I NEED HELP!get your thinking caps on cheffers!

 

[jenniferlynne]

Hey, I know what you are talking about! I've been doing my own taxes for a few years now. The code for Direct Sales is 454390.

Here is the piece that I copied:

454390 Other direct selling establishments (including door-to-door retailing, frozen food plan providers, party plan merchandisers & coffee-break service providers)

 

[dannyzmom]

Are you using one of those online tax programs? How are you doin git w/o th epaperwork from PC yet?

 

[jrstephens]

Are you using one of those online tax programs? How are you doin git w/o th epaperwork from PC yet?

I am using www.taxactonline.com I am not doing it completely just filling in the information I can while I wait for my documents. I always do this each year when my documents start coming in I go ahead and put them in and get as far as I can while I am waiting on the rest of them. That's what I love about this online program (they may all let you do this I have not tried any other) as you enter your information in in the top right corner it tells you how much your refund is at each step. Of course it gets your hopes up in the beginning before all of your income if put in b/c it looks like you are getting the "earned income credit" and get lots back! ha!

 

[jrstephens]

Hey, I know what you are talking about! I've been doing my own taxes for a few years now. The code for Direct Sales is 45390.

Here is the piece that I copied:

454390 Other direct selling establishments (including door-to-door retailing, frozen food plan providers, party plan merchandisers & coffee-break service providers)

Thanks, Jennifer!! I knew yall would know without me having to look through everyone of those codes!

 

[dannyzmom]

I am using www.taxactonline.com I am not doing it completely just filling in the information I can while I wait for my documents. I always do this each year when my documents start coming in I go ahead and put them in and get as far as I can while I am waiting on the rest of them. That's what I love about this online program (they may all let you do this I have not tried any other) as you enter your information in in the top right corner it tells you how much your refund is at each step. Of course it gets your hopes up in the beginning before all of your income if put in b/c it looks like you are getting the "earned income credit" and get lots back! ha!

Does it do state AND federal? Is it free?

 

[jrstephens]

Does it do state AND federal? Is it free?

It is $15.95 for State and Federal and that includes e-filing.

 

[dannyzmom]

It is $15.95 for State and Federal and that includes e-filing.

dang!!!
That's great!!
Where do you get the program?

 

[jrstephens]

It's all online at www.taxactonline.com They walk you through each step of your return and do check points at the end for accuracy. I have used them for 5 or 6 years now. You can even choose for them to keep general information stored and not have to enter it from year to year - I love that! I think I found it via the IRS website one year, but I cannot remember how I discovered them.

They have different levels that you can choose from. $15.95 is the highest. I love it b/c they are accurate and less than I could ever buy a cd program for.

You can do your whole return and they do not charge you until you submit. So, basically it is free to see if it does all you want it to do. They never charge until you hit the ok button to submit.

They have even found errors in mine and sent it back for correction before they filed it before!! Which I think it awesome.

 

[kat29]

Tax Act is awesome I've used it for 5 years and never had a problem with them. I love it. I'm just not sure how to fill out the information for the 1099 stuff on it. This is my first year doing it so I'm learning. I don't want to go to someone else and let them do it but it looks like I may.

 

[jrstephens]

Tax Act is awesome I've used it for 5 years and never had a problem with them. I love it. I'm just not sure how to fill out the information for the 1099 stuff on it. This is my first year doing it so I'm learning. I don't want to go to someone else and let them do it but it looks like I may.

You wil not have any trouble. I have been looking at it today and it walks you through it. You just have to add a Schedule C in the Business Income Section.

 

[Jennie4PC]

I will have to tell my DH about this he loves turbo tax but this program is much cheaper

 

[ljcole7469]

I have always used H/R Block turbotax, but this year Im not sure if I should get an accountant because we moved, and I have lived in 2 states. I have never had an accountant...anybody have experience either way?

 

[Jennie4PC]

we moved to a different state last yr I believe the only problem my DH had was he had to call his company that he works for and they had to send a different w-2 form 1 for what we made and paid in state 1 and another for what we paid in state 2 we dont pay state taxes here and we filed with turbo tax

 

[kat29]

Okay I have a question...I wrote the code down and all for the direct sells stuff but what exactly do you put in the box that says "describe the general business activity and the type of product or service for this business." Do I just put Independent Consultant for selling Kitchen Tools or what??? I'm not sure what to type in.

 

[jrstephens]

Okay I have a question...I wrote the code down and all for the direct sells stuff but what exactly do you put in the box that says "describe the general business activity and the type of product or service for this business." Do I just put Independent Consultant for selling Kitchen Tools or what??? I'm not sure what to type in.

I just put "direct sales"

 

[kat29]

what accounting method did you select? I just left it at Cash but it's not Cash or the other one. Thanks for your help Jennifer.

 

[jrstephens]

I put Cash b/c I know it is not the other one, ha! I hope it is help, this is my first year and I am learning as I go and hope neither one of us gets in trouble! ha!

 

[kat29]

Okay I'll leave it on that. I have no idea. It's my first year of doing this too, don't really want to go to an accountant. Rather do it myself and get it back faster. LOL!! I think I pretty much got everything else, it was just them asking the stupid questions on how you would describe it and the accounting method. I was thinking Other on the accounting method but wouldn't know what to put down in the blank. I'll have to do some more research on it and see. If i come across anything I'll let you know. Thanks again for your help. I do appreciate it.

 

[strasfamily]

Turbo TAxFor those of you using Turbo Tax, which one did you buy, the Deluxe or Premier version?

 

[melissakc]

Have you got your 1099 yet? Just wondering!
Melissa

 

[Shonda1107]

What about LLC? Are we?

 

[jrstephens]

What about LLC? Are we?

Not to my knowledge. I have never seen LLC behind anything anyway.

 

[klsnyder]

No we are not LLC.

 

[Kanne]

For those of you using Turbo Tax, which one did you buy, the Deluxe or Premier version?

I was planning to get TurboTax Home & Business. It costs the most (around $90, including state) but it has all the questions for small business AND the deduction maximizer. I don't know if this is the best software, but I've been using the basic TurboTax for years and I really trust it. Since this is my first year filing with PC, I want to make sure I do everything right!

Since it's free until you submit it, maybe I'll try a few different ones online and see if they come out the same. It's time consuming but I want to get back the most that I can.

 

[sailortena]

I plan on doing the same ... we used TaxAct online last year ... and I am going to try their Ultimate bundle and at the same time use the Turbo Tax Home and Business, and whichever program gives me the most return for the least amount of money, I will use them to file. It's $22.95 (fed and state filing) with the TaxAct ultimate and $75 plus $26.95 for Turbo Tax to file both state and federal. I am hoping TaxAct will be better because I don't want to spend a lot of money.