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business code

Tiger5
Level 4

I couldn't find a business code that would be best for used tire sales and repair? do you add the tire tax on the schedule c? 

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9 Comments 9
abctax55
Level 15

Most software has a drop down menu to select from... what software are you using?

HumanKind... Be Both
George4Tacks
Level 15

Call these guys, they will know

Tire Taxes 3.jpg


Answers are easy. Questions are hard!
George4Tacks
Level 15

Code 441300

I don't know what a tire tax is, but my guess is you add it to your gross receipts because you collect it from the consumer and then you add it to your COGS since you pay it out to some gov't agency.

 


Answers are easy. Questions are hard!
itonewbie
Level 15

You may like to bookmark this site for lookup next time, in case your tax product is not user-friendly when it comes to business code lookup (like PTO).

https://www.naics.com/code-search/?naicstrms=Tire

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Still an AllStar
Tiger5
Level 4

Proseries, I looked but was unsure which to chose. they had one for auto and repair?

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itonewbie
Level 15

The codes are tiered by categories and drill down to a few more levels with more precise descriptions.  If the exact code you want to use is not on the list, settle with the higher level.  The first three digits followed by 000 and, ideally, first four digits followed by 00 would be what you should aim for.

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Still an AllStar
qbteachmt
Level 15

"The codes are tired by categories"

 

Sorry, I just had to Quote that before you see it and fix it, since you posted it in this Tire topic.

🙂

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itonewbie
Level 15

Lol, it's the dreaded auto-correction on cell phone.  Can't live with it yet can't live without it. 😂

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Still an AllStar
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George4Tacks
Level 15

For this particular thread, I really think tired by category is more appropriate.

 


Answers are easy. Questions are hard!