Business plans vs family plans?

JAJameson2010 · December 5th, 2012, 01:43 PM

My random question for the day (google didn't give easy to understand info)

Is it cheaper to do the business plan? My credit union gives 15% off to business plans and only 10% to personal plans. Would it be worth the savings to get a business phone plan? I would only need a Tax ID #, right? I think I could, in theory, sign my blog up as a business, even though it's not really making any money...

I have a family plan with 2 lines

Rigmaster · December 5th, 2012, 04:07 PM

I believe the biggest difference is that business plans can be written off as operating expenses, thus the reason for Tax ID. If your blog truly is a business and you're filing taxes for it, go ahead. But if not, why do something that could trigger an audit?

JAJameson2010 · December 6th, 2012, 01:00 PM

I thought there might be more of a difference... Ok I'll behave myself

Thanks

Rigmaster · December 6th, 2012, 01:03 PM

Quote:

Originally Posted by JAJameson2010

I thought there might be more of a difference... Ok I'll behave myself

Thanks

If you're a large business with IT, there are some customizations and other tech things that can be done, as well as some volume pricing and special features. Not likely something smaller biz can take full advantage of.

Again if you run a blog and want to use it as your primary source of communication, just be prepared to justify the expense if you write it off.