The Impressive Empress
New member
activity code? Accounting method? A question on Tax Act asks for Principal Business. It says, "Describe the general business activity and the type of product or service for this business."
I was a freelance writer for Demand Studios which means I was self employed. What would I put here? "Internet Freelance Writing?" Also, would the Business Activity Code be the one that says "Independent writers, artists, etc.?"
Last but not least, it asks me to identify the accounting method used to record the results for the business. It says, "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."
I didn't have any inventories. I calculated my payments using the Demand Studios website and a calculator. I didn't keep books. I mean, I only wrote articles for a website. I am so confused. I filed with Tax Act last year but I don't know if it's just me but this year seems more confusing.
I was a freelance writer for Demand Studios which means I was self employed. What would I put here? "Internet Freelance Writing?" Also, would the Business Activity Code be the one that says "Independent writers, artists, etc.?"
Last but not least, it asks me to identify the accounting method used to record the results for the business. It says, "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."
I didn't have any inventories. I calculated my payments using the Demand Studios website and a calculator. I didn't keep books. I mean, I only wrote articles for a website. I am so confused. I filed with Tax Act last year but I don't know if it's just me but this year seems more confusing.