Photograher rents out studio

[BHoffman]

New client - does two things:

1. Shoots photos for local newspaper as a free-lancer, also does portraits for individuals. I'm thinking this is Sch C.

2. Has a studio, fully equipped, and rents out to other photographers on a daily or hourly basis. I thinking this is going to taxed as personal property rental subject to SE tax on Sch C?

So, appears she has two NAICS codes, and two business operations requiring two Sch C forms, right? Two SS4 forms, and two AZ transaction privilege (sales tax) licenses?

Thanks for any advice.

[ChEAr$]

New client - does two things:

1. Shoots photos for local newspaper as a free-lancer, also does portraits for individuals. I'm thinking this is Sch C.

2. Has a studio, fully equipped, and rents out to other photographers on a daily or hourly basis. I thinking this is going to taxed as personal property rental subject to SE tax on Sch C?

So, appears she has two NAICS codes, and two business operations requiring two Sch C forms, right? Two SS4 forms, and two AZ transaction privilege (sales tax) licenses?

Thanks for any advice.

Naw, I'd just use one schedule c and use the code for whichever is the predominant activity, showing "rental" income as "other income" in the case of your first named activity being principal activity.

I heard y'all had a bit of snow the other day.

[BHoffman]

We didn't get snow here in Phoenix, but did get a freeze.

I'm tempted to file only one Sch C for both activities, but believe there might be some AZ sales tax issues. She also wants to keep the activities separate, and wants her SMLLC to sign the lease with the landlord. She thinks her main source of income will come from renting out her equipment and studio space.

[ChEAr$]

We didn't get snow here in Phoenix, but did get a freeze.

I'm tempted to file only one Sch C for both activities, but believe there might be some AZ sales tax issues. She also wants to keep the activities separate, and wants her SMLLC to sign the lease with the landlord. She thinks her main source of income will come from renting out her equipment and studio space.

If that's the case, the property had better be titled in the LLC and not in her name personally. See the point?

[BHoffman]

The property is rented. The rental agreement will be under the name of the LLC. I get it

[BOB W]

I haven't seen any landlord let an "entity only" sign a lease, but that is in NY.

[taxea]

[QUOTE=ChEAr$;110835]Naw, I'd just use one schedule c and use the code for whichever is the predominant activity, showing "rental" income as "other income" in the case of your first named activity being principal activity.

QUOTE]

Me too