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How do you frame multiple bus. endeavors as a sole proprietor?

megan
(@megan)
New Member Registered

Hello,

I'm confused about whether I would use one umbrella name and claim all income and expenses under that one heading, or if I need a separate tax ID and business category for each distinct service.

For example, if I were doing both gardening work and consulting with people about herbs for health, which could work (in my mind anyway) under one umbrella name, like "Good Earth" or whatever I come up with.

But legal and tax-wise, do I need to 1) register separate names with the county 2) get separate tax ID numbers and 3) list income and expenses for each category separately? And what if I do more than two things, like if I also do some tutoring with children? How do people work in multiple areas for themselves and keep it easy and sane as possible with paperwork and taxes?

Thanks so much in advance for any knowledge anyone has about this!

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Topic starter Posted : 01/02/2010 8:45 pm
wanbi84
(@wanbi84)
Active Member Registered

Re: How do you frame multiple bus. endeavors as a sole proprietor?

But legal and tax-wise, do I need to 1) register separate names with the county 2) get separate tax ID numbers and 3) list income and expenses for each category separately? And what if I do more than two things, like if I also do some tutoring with children? How do people work in multiple areas for themselves and keep it easy and sane as possible with paperwork and taxes?
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Posted : 12/11/2012 1:11 am
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