16 Mar
2003
16 Mar
'03
9:46 p.m.
I hate to rain on your parade but ...
Well, maybe not then...I don't know Penske's rules. However, as was
pointed out, being non-incorporated and doing the above scenario above
certainly is legitimate business, as long as the taxman gets his share
(Schedule C, I think? I don't do it anymore, since I incorporated. Anyway,
that is what accountants are for). No license is needed, at least in some
states.
I would think, however, that Penske would want to see some sort of
legitimate business paper if it can't have an EIN.
> If I part the computers out and sell
everything on ebay or, worse,
> for gold and scrap value, would that make me eligible for the
> business rate?
Yes.
WRONG. Getting a business license is what would make you eligible
for the business rate. Busted an axle
as I recall. Could have had an accident or even killed someone. That's how
too many a personal user would do it, and the rental company and their
insurance carrier very well know it through experience.
Exactly, so you could actually think of the business rate as "normal" and
the personal rate as "built in insurance".
William Donzelli
aw288(a)osfn.org