Thursday, January 3, 2008


Can an S Corp salon owner also be a booth renter sole proprietor for tax purposes for their hair styling business? Jim

Jim, yes it is possible for a person to have multiple entities. We have numerous clients with multiple entities. To answer you properly I would have to know exactly what your S corporation is doing. We do have situations where S corporations, or partnerships, or limited liability companies own booth rental operations with several booth renters and then the owner of the operation also rents a booth from the S corporation. If this is what you are referring to you can do this but there may be other options that are better for you.

Check with your tax advisor. A competent tax professional should be able to give you the advise on the best method for you to organize your operation to save taxes and limit your liability.

It is a pleasure serving you.

Larry Kopsa CPA