I have an automotive sole proprietorship, but now freelance copywriting. Do I start another sole pro?
Posted on January 30, 2009
Filed Under Small Business | 1 Comment
Matthew T asked:
I have had my own automotive consulting sole proprietorship for almost 3 yrs now, but I have recently started a freelance copywriting career. The automotive consulting has a business name, but the copywriting will just be under my name. Should I lump all my expenses and profits together on one Schedule C, or do I need to start a second sole proprietorship and fill out two? Thanks.
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I have had my own automotive consulting sole proprietorship for almost 3 yrs now, but I have recently started a freelance copywriting career. The automotive consulting has a business name, but the copywriting will just be under my name. Should I lump all my expenses and profits together on one Schedule C, or do I need to start a second sole proprietorship and fill out two? Thanks.
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One Response to “I have an automotive sole proprietorship, but now freelance copywriting. Do I start another sole pro?”
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It depends on whether you view your consulting and writing business as one or as two separate businesses. There is nothing wrong with combining your revenues and expenses on a single Schedules C.
However, since one is operating under a separate business name, and you don’t use that name for the other business, you should file separate forms. Hopefully, you are also keeping separate records for the two enterprises.