dgfalk
Power Member
- Apr 26, 2010
- 687
- 95
Im doing my taxes right now and adding some 1099-MISC and have a couple questions for what you guys put down for this section:
Business Income - Principal Business
I put "Internet Marketing"
Then It asks for Business/activity type:
I selected from the drop down box "Professional, Scientific & Tech. -Other"
Then right below that for Buisness Activity Code
I put "541800 Advertising and related service"
Does this sound right and is this what you guys put down?
Then on the next page it asks this:
"Identify the accounting method used to record the results for the Internet Marketing business. If you have inventories, you must use the accrual method to record sales and purchases unless you are a qualifying taxpayer or qualifying small business taxpayer. You also must keep account books in order to use the accrual method."
-Cash
-Accural
-Other (specify)
Not to sure what to put here, any help would be greatly appreciated. Thanks!
Business Income - Principal Business
I put "Internet Marketing"
Then It asks for Business/activity type:
I selected from the drop down box "Professional, Scientific & Tech. -Other"
Then right below that for Buisness Activity Code
I put "541800 Advertising and related service"
Does this sound right and is this what you guys put down?
Then on the next page it asks this:
"Identify the accounting method used to record the results for the Internet Marketing business. If you have inventories, you must use the accrual method to record sales and purchases unless you are a qualifying taxpayer or qualifying small business taxpayer. You also must keep account books in order to use the accrual method."
-Cash
-Accural
-Other (specify)
Not to sure what to put here, any help would be greatly appreciated. Thanks!