Posted by JenCA on 2/14/08 11:45am
Msg #235263

Tax Cut

I know this has been asked a couple of times... but I did a search and never found a definitive answer... if there is one. Trying to figure out which NAICS number to use...being that 541199 isnt listed... has anyone figured it out? TIA

Reply by Glenn Strickler on 2/14/08 12:06pm
Msg #235266

Tax cut enters it automatically when you get to the part where it asks if any of your income was due to being a minister or a notary. Do the question and answer part of the program. Don't try to fill in the forms yourself. Just answer the questions and fill in the requested info.

Reply by docs1954CA on 2/14/08 12:13pm
Msg #235269

Here's what my accountant used

Principal business code for a Notary Public-561490.

Reply by PAW on 2/14/08 2:50pm
Msg #235303

Your accountant is incorrect

That business code is for Business Support Services, such as Doc Prep business, call centers and credit bureaus. See http://www.bls.gov/oes/current/naics4_561400.htm or http://www.naics.com/censusfiles/ND561410.HTM

Go to http://www.naics.com/search.htm and enter "notary public" in the keyword search and see what you get. You should see that "Notary Public" NAICS code is 541199.

Reply by docs1954CA on 2/14/08 4:05pm
Msg #235315

Thanks Paul, I'll pass that along..

What are the ramifications of using the wrong code? God forbid, I hate to even say it...an audit?

Reply by PAW on 2/14/08 8:00pm
Msg #235376

I don't know. Ask the IRS :) n/m