Salt Lake City, UT asked in Business Law and Tax Law for Utah

Q: Do I need a to get a EIN number from business's who I am paying rent to every month in order to take it as a tax writoff

I own a windshield repair business and i rent parking lots from business's. I pay thousands a month. How can i take it as a write off? Do i need to get their EIN or have them fill out a 1099 document?

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1 Lawyer Answer
Wesley Winsor
Wesley Winsor
Answered
  • Tax Law Lawyer
  • Saint George, UT
  • Licensed in Utah

A: If you are running it as a sole proprietorship, then you don't need to get a separate EIN, you can just use your own Social Security number when you report your taxes. If your company is an LLC then you will already have an EIN and you will u se the EIN when you do your taxes.

Can you write off the expense of renting parking lots as business expenses? Yes absolutely. It is a cost of doing business. I may classify it as a marketing expense. All of your expenses including this one should be counted against your sales/revenues in order for you figure out what profit you are making. Absolutely include this whether you are a sole proprietor using your own SS# as your ein or whether your company already has an EIN.

I hope this helps.

Wes

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