The parts in particular I have questions about are: Should I use my name as name of business or the name I adopted? (It hasn’t been legally registered or trademarked though) Which business code to use? Using 541510 (Computer systems design & related services) for now. Which accounting method to use? I think it’s “cash method”, but can’t quite tell. Did I play an “active role”? I think so since I’m the only one in this “business”, but it’s unclear.

M

mike60240

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I need to set up a business for sales of Android apps through the Google Play store. Has anyone done this through TurboTax?

Forum|Forum|7 years ago
June 4, 2019
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The parts in particular I have questions about are:

Should I use my name as name of business or the name I adopted? (It hasn’t been legally registered or trademarked though)
Which business code to use? Using 541510 (Computer systems design & related services) for now.
Which accounting method to use? I think it’s “cash method”, but can’t quite tell.
Did I play an “active role”? I think so since I’m the only one in this “business”, but it’s unclear.

TurboTax Premier Mac

Best answer by WillK

1. Most taxpayers who set up a new business come up with a new name and file with the IRS to get an EIN. This will give you some legal protection and is most recommended for new businesses. Click here to get started: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-n...

2. Business code 541510 is correct

3. Cash accounting is the easiest and most popular choice. I recommend cash accounting

4. Yes, you play an active role in the business.

Good luck!

W

WillKAnswer

Employee

1. Most taxpayers who set up a new business come up with a new name and file with the IRS to get an EIN. This will give you some legal protection and is most recommended for new businesses. Click here to get started: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-n...

2. Business code 541510 is correct

3. Cash accounting is the easiest and most popular choice. I recommend cash accounting

4. Yes, you play an active role in the business.

Good luck!

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M

mike60240Author

Thanks. This was really helpful. One last question. If I don't file with an EIN now, but with my SSN, would that prohibit me from filing with an EIN and business name in the future or anything like that?