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HELP! tax question

Started by dmcc, February 09, 2004, 05:20:59 PM

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dmcc

Any of you guys who do your own taxes know what "principal business or professional activity code" you useon your schedule C? Also what is your business description for custom sawing? ???
"Still looking for that one BIG log"

Oregon_Sawyer

I have mine on my farm return.  My accountant treats custom sawing like as if I was renting a tractor or doing custom farming for someone else..

Loren
Sawing with a WM since 98. LT 70 42hp Kubota walk behind. 518 Skidder. Ramey Log Loader. Serious part-timer. Western Red Cedar and Doug Fir.  Teamster Truck Driver 4 days a week.

EZ

They put me under lawn and garden care, go figure, I hate mowing grass. ::)
EZ

dmcc

Thanks for the replies, there is nothing that exacly fits, but I'll probably go AG under timber support functions.....I think ::)
"Still looking for that one BIG log"

wiswannabe

Hope this helps all of you that are working with your taxes.
These are the business code numbers that should apply to your operation.
  
113310 Logging
423300 Lumber & Other Construction Material
321110 Sawmill & Wood Preservation

Good luck on the tax filing task 8).
wiswannabe

Kevin_H.

We have H/R block doing ours and they are using the 321000 code.

Dont know what it means, but that's it  ;D
Got my WM lt40g24, Setworks and debarker in oct. '97, been sawing part time ever since, Moving logs with a bobcat.

wiswannabe

Kevin 321000 is for Wood Products Mfg.  What is it that you are manufacturing? :P
wiswannabe

Kevin_H.

Well we make 1 1/8" boards... ;D

Our business got started as a woodshop, making outdoor furnture and some oak stuff.

We do make other items that are considered ready to use when they leave our site...in other words, no further processing is needed.
Got my WM lt40g24, Setworks and debarker in oct. '97, been sawing part time ever since, Moving logs with a bobcat.

woodmills1

I have done my own for years and use the 32------ code.  Don't forget to take the 179 expense for any equipment you bought this year it is up to $100,000.  Using it has allowed me to put off taxes to years where I made good money.  I use the business form as the farm one didn't look so good to me.  I can bring up much more, but for those of you like me who are/were employed in non SSI jobs watch out cause you will get a full hit on your sawmill income as private retirement doesnt count toward the SSI max.
James Mills,Lovely wife,collect old tools,vacuuming fool,36 bdft/hr,oak paper cutter,ebonic yooper rapper nauga seller, Blue Ox? its not fast, 2 cat family, LT70,edger, 375 bd ft/hr, we like Bob,free heat,no oil 12 years,big splitter, baked stuffed lobster, still cuttin the logs dere IAM

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