California firewood business taxes

[fryeguy2]

In the last two years ive started up my firewood business again. Ive bought several pieces of equipment and have been spending quite a bit on supplies and repairs this year. I think it would be worthwhile to declare my income and be able to write off my expenses. I was wondering if anyone could tell me whats involved in setting up a legitamate firewood business, and what I would need to do in order to file taxes and write off expenses. It will not be my only source of income, I have a job also, but it will make up a large part of it.

thanks for the help.

Jerah

 

[treesurgeon]

you will have to do all the steps that everyone had to do on this site. thats if they are a registered business. just because you do firewood, if you sell enough of it, the red tape is all the same. i would call your city hall first and start there. every state is different, but i think the federal part of it is the same. no matter what, from what it sounds like, you will be paying more money to uncle sam. my advice, if your a small firewood business, just keep on doing what you are doing.

 

[04superduty]

there are 2 main types of businesses that i am familuar with, a DBA and a LLC. what i have been told is the LLC can provide more protection for your assets than a DBA.
i am sure that somone here will have more and better info to help you decide which route to go and how.
for me i have a DBA for my snow plowing business. i am a sub for a small company and to get paid i had to get the DBA for tax reasons.