Anyone know which tax code to use for Form Schedule C?

The closest I can figure is 541990: all other professional, scientific, & technical services.

The tax code you are looking for is 713900. That is the code number my tax person used.

I also used 713900. Don't forget to file the self-employment tax too (unfortunately)...

And all this time I've been using 999999
HMMMMM!

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Ron
Seattle Officials - Women's Basketball

I've been using 666. At least for the SE portion of my taxes.

Pizanno:

And I've used 711300, so go figure. If you ever get an answer from a true tax preparer, let us know would you??

Mine said to use all nines.

I've used 711210 since 1980 and think the IRS will accept almost anything since we describe what we do in another block.
One thing is good about this post it shows that a lot of people do use Schedule C for their taxes. A lot of people say they do not file or do not take advantage of this tax allowance. I tell them they are missing out on significant savings, but are daunted by the paperwork.

What does 711210 designate?

bsilliman -

Please enighten me on Sched C.

Thanks.

Jack

I believe that 711210 most closely resembles what we do. For those that don't know, Schedule C is the schedule that accompanies Form 1040, used to report income and expenses associated with businesses operated as a sole proprietorship. Unless you are incorporated or a partner in a refereeing partnership (both highly unlikely), you should be filing this form to take advantages of all of the deductions to help offset your income. The net business income from the Schedule C should be reported on Schedule SE - where you compute the self employment taxes due on your net earnings.

I am a CPA with several years of tax experience. Feel free to E-mail me if you have any specific questions regarding your referee income and deductions. I would be glad to assist one of my brothers in stripes.

With all of the sue happy parents out there, would it make sense for officials to incorporate? Would this limit our liability if a kid gets hurt and we are sued?

Every time a kid goes down in my games I think of those poor guys who called that hockey game in Chicago where the kid got paralyzed. They may lose everything over what is probably their hobby.

Brian Watson--711210 is for "Spectator sports including professional sports clubs & racetrack operations."

Thanks Barry Morris for the words on Schedule C. Here is a questions which may apply to other people who are fully retired and only officiate sports.
"Since I am fully retired can I deduct mileage to and from my personal home without declaring my home (or a portion of it) as my place of business?"
In defense of your answer I put this question to a fellow basketball referee here in Las Vegas who also works for the IRS. He is one who would go to court and defend you against the IRS. He stated that it was "perfectly legal, despite the IRS saying that they would consider it commuting", which is not deductable.
Since I retired here in 1992 I have always used every mile I drive to games and meetings.
We do appreciate your offer of help.

Brian Watson, incorporation brings costs to incorporate and the problem of double taxation (don't ask). There's another solution for the liability problem. It's called insurance. Your state association should cover you during HS games. If you join NASO, you're provided 3 million dollars (I think) of liability insurance for all sanctioned games of any organization (rec league, church, HS) and, lastly, check with your personal agent regarding umbrella insurance if you're still feeling antsy.

bsilliman- Like many tax questions, there are some grey areas but I think your IRS buddy is correct. I think you could consider your home your place of business even though I wouldn't depreciate anything.For tax years after 1998, the phrase "principal place of business" includes a place of business used by the taxpayer for the administrative or management activities of any trade or business of the taxpayer if there is no other fixed location of such trade or business where the taxpayer conducts substantial administrative or management activities of the trade or business.

I am sure you do all of your scheduling and accounting at home. The only thing you do in your business as a R is to go to a gym and officiate. All the rest of the administrative and management activities occur in your home office.

Isnt there a minimum income from officiating before you are required to report on your income tax returns? Schools don't report to IRS unless over a certain amount is paid by the school to an official. Don't recall the amount.

There is no minimum for an individual to report his/her income. Businesses are not required to report that they paid you money to the IRS until they have paid you at least $600 in a year but you are still legally required to report all of your income on your annual return. You won't have to pay self employment taxes, however, if your net earnings from self employment don't exceed $400.

What about social security?
 

Sorry, I know this is an old thread, but....

I have always reported my small amount of income from officiating as income on 1040. Do I need to send the IRS and/or social security money in addition to what I pay annually in taxes and bi-weekly in social security from my full-time place of employment?

Is this going to get complicated?

Probably a good time to evive this thread!
 

I'm not an expert but I don't think so. But you should use Schedule C and SE to report these earnings. Also, you should use them to be able to deduct the expenses that go along with officiating. The self employment tax is paid in lieu of regular taxes and Social Security.

Since my wife works at home as an independent medical transcriptionist, our tax advisor recommended we incorporate two years ago. We are now an S-Corp and are engaged in the business of "Providing eclectic services to sports and business" (our tag line).

I get all my 1099s made out to our federal tax id number and we use a payroll service to pay us a salary once a month. Yes, we are paying employer taxes, but we are saving a lot of tax dollars by taking dividends instead of salary.

If you have a substantial chunk of your total household income being paid on 1099s, I would strongly suggest you check with your tax advisor to see if there's any advantage to you by incorporating.

In any event, I cannot stress strongly enough that you join NASO. The liability insurance coverage alone is worth the price. Go to naso.org for more info.

I've just looked at the schedules and instructions for Self Employment.

Questions:

Can I claim as expenses my uniform (whistle, shoes, pants)?
What about dues?
What about manuals and training costs?

Any help will be greatly appreciated as this is my first time filing..... I actuall got paid to do this some last year!

With the usual caveats about tax advice, yes -- you can deduct all those items.

GREAT INFO
 

Everyone this is some great information. Just wish I had this knowledge years ago. Barry standby for a e-mail.

As Bob says, yes with the usual caveats. You can also
deduct travel to games from your place of work
and travel between different game sites. It's a
good idea to keep an up to date log on this. Remember I'm
not an expert and I don't play one on TV.

Barry,

Can I deduct the cost of a gym membership on the schedule C because it is a business expense. As a referee you need to be in shape and maintain that throughout the year, so could I deduct it as a business expense? Thanks for your help

Buck