Actually the owner is an attorney. We talked about when she only owned one, but she bought this 2nd one during the year.
I will bring it up again when she comes in today.
Thanks for the input.
cris
From: taxchat@yahoogroups
Sent: Wednesday, October 01, 2008 11:31 AM
To: taxchat@yahoogroups
Subject: Re: [taxchat] 2 residential home facilities
It would be advisable to advise your client to protect their assets better as a Corp or LLC. They have assets that they could lose in a sole proprietorship. I offer Incorp and LLC services through a legal business that I go through that does all the leg work setting these entities up. They are located near the State Capital. If I fax them the info before 10 am, my client will be an new entity before the day is over. These are the same companies that lawyers go thru. Difference lawyers charge around $600 here and I charge $395. Its a good marketing tool to get new accounting, bookkeeping and tax clients by saving them a couple hundred bucks.
Arnie
----- Original Message -----
From: Robert Lukey
Sent: 10/01/2008 2:05 PM
Subject: Re: [taxchat] 2 residential home facilities
If she is operating them both under one name and federal ID then she can use one schedule C.
On Wed, Oct 1, 2008 at 10:20 AM, Cris Kelly <ckelship@yahoo.
com > wrote:I have a client that is operating as a sole prop.
In 2007 she purchased a 2nd location, so now she has 2 residential care homes.
Am I correct that I can combine all the income / expenses on one Schedule C? Or do I need to have two separate 'C's since they are not located together?
I believe that I can combine them, I just want to verify with the experts.
Thanks for the help.
Cris
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch format to Traditional
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
__,_._,___
