As a sole proprietor, do bills have to be in my business name in order for me to write them off or can they be in my personal name?
I am renting a building to operate my small business. I am a sole proprietor, Subsequently I will be setting up an account for internet and telephone access at the business location. I was just going to open a new account with the provider using my personal name rather than my registered business name. The internet provider has informed me that the account must be registered in my business name in order for me to use it a write-off...of course the "business" accounts are twice the price. Is this really necessary? The account will be completely separate from my personal account at home and will have reference to the business address location. Will this be an issue if it ever comes to light in an audit situation?