SOMETHING VERY INTERESTING POPPED UP ON MY FORUM

[Fkatz]

THE ARTICLE WRITTEN BY JACIE.
HE/SHE ASKED WHAT BUSINESS CODE WAS THE CORRECT ONE TO PUT ON THE SCHEDULE C, PROFIT/LOSS FROM BUSINESS
IT SEEMS THAT IF THE INCORRECT CODE WAS WRITTEN IN AS ONE OF THE FOLLOWING #'S IT MIGHT OF SET YOU UP FOR THE AUDIT AND DISALLOWANCE THE STANDARD MILEAGE DEDUCTION ON YOUR RETURN.

THE CORRECT CODE FOR OUR BUSINESS OR ANY OTHER OTR COMPANY OR O/O DRIVER IS
1ST- 484120 GENERAL FREIGHT TRUCKING -LONG DISTANCE OR
2ND- 484110 GENERAL FREIGHT TRUCKING- LOCAL
3RD- 484200 SPECIALIZED FREIGHT

THE OTHERS ARE
-
492110- COURIER
492210- LOCAL MESSENGER/ LOCAL DELIVERY
485300- TAXI & LIMO SERVICE(FOR HIRE)
481000- AIR TRANSPORTATION
488490- OTHER SUPPORT FOR ROAD TRANSPORTATION
488510- FREIGHT TRANSPORTATION ARRANGEMENT
488990- OTHER SUPPORT ACTIVITIES FOR TRANSPORTATION

SO I WOULD CHECK AND SEE ON YOUR SCHEDULE C, PROFIT/LOSS, FORM 1120, AND 1120S UNDER BUSINESS CODE AND SEE WHAT YOUR PREPARER PUT IN FOR THE TYPE OF BUSINESS THAT YOU ARE. IT COULD BE THE REASON THAT YOU WERE AUDITED AND THE STANDARD MILEAGE DEDUCTION WAS DISALLOWED IN A "B' UNIT.

FRANK KATZ
FRANK'S TAX & BUSINESS SERVICE
308 E. KING ST
KINGS MOUNTAIN, NC 28086

NEW ADDRESS AFTER 4/20 WILL BE
226 CHEROKEE ST
KINGS MOUNTAIN,NC 28086
PHONE # SHOULD BE THE SAME
704-739-4039

 

[Dkalasz]

RE: SOMETHING VERY INTERESTING POPPED UP ON MY FOR

my head isnt working right today i guess which codes give you a problem taking the mileage deduction one of the first set or the second?

 

[Fkatz]

RE: SOMETHING VERY INTERESTING POPPED UP ON MY FOR

HI ALL AGAIN,

USE ONLY 484120, 484110, OR 484200 ONLY

fRANK