Is an EIN necessary to write off business expenses?

Discussion in 'General Business' started by kingjacob, Nov 16, 2007.

  1. #1
    I am looking to write off some expenses ie server costs, advertising, etc for this tax year. Would it be better to do this as an Sole proprietor under an EIN or an Individual under my Social?
     
    kingjacob, Nov 16, 2007 IP
  2. Mia

    Mia R.I.P. STEVE JOBS

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    #2
    Talk to an accountant.. Generally if you itemize your deductions, as a corp, you could easily write off expenses for the business under the business... Even things you purchase personally, assuming again, you itemize. At least that has been my experience..

    I of course use an Accounting Firm...
     
    Mia, Nov 16, 2007 IP
  3. loopline

    loopline Well-Known Member

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    #3
    I have a sole prop and I write off my business expenses. My accountant says its fine and everyone I have talked to. From what I have read of laws in the US a sole prop is a business if you run it like one. just keep your business seperate from personal or it will make your life difficult. Keep your reciepts too. and do as Mia says and talk to your accountant.
     
    loopline, Nov 17, 2007 IP