Tax Questions When Opening a 'New' Business?

[Stepping]

Hello all,

I currently run a small home daycare which is incorporated (s-corp). I'm hoping to expand and open a small center in 2015. Can I use the same business name for the new business? Do I need to incorporate the new business? Or will this just be seen as an expansion of my current operation?

I will be using the same name for marketing purposes as my home daycare has a good reputation but I'm not sure what the legalities are in this situation.

Finally, when I'm making purchases for the new center, can these be written off 2014 taxes for my current business?

[Michael]

I have an s-corp. You do not sound like you are changing your corporate structure. I would think as an expansion you have no need to change it unless you were going from something like Daycare.com Inc. to Daycare.com LLC.

[TomCopeland]

name

Hello all,

I currently run a small home daycare which is incorporated (s-corp). I'm hoping to expand and open a small center in 2015. Can I use the same business name for the new business? Do I need to incorporate the new business? Or will this just be seen as an expansion of my current operation?

I will be using the same name for marketing purposes as my home daycare has a good reputation but I'm not sure what the legalities are in this situation.

Finally, when I'm making purchases for the new center, can these be written off 2014 taxes for my current business?

Since you are still in the child care business, you could use the same name. You don't need to reincorporate. It's an expansion. Since you are operating one business (child care) you can deduct expenses for the center whenever you purchase them.

[Stepping]

Thank you both for the very helpful replies!