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Returning Member
posted Oct 30, 2019 5:46:15 AM

Can you have a related brand name under a sole proprietorship?

I have a multimedia services sole proprietorship company and just started a side business selling products such as coloring books and t-shirts for my cat's social media.

Can I file his income as a product within the same company or do I have to create a new sole proprietorship company? Since I'm basically using my services from that company, I wonder if I can file the income from my cat's products under that same company.

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1 Replies
New Member
Oct 30, 2019 5:46:17 AM

There may be a couple of issues depending on how significant the income is.  If it is not significant, you can probably use the same industry code.  Normally a service industry has a different industry code from sales.  Service industries also do not require a cost of goods section whereas a sales business could make use of cost of goods.