can i incorporate my household?!
I run my household as if it were a business. I have income I have expenses, I try to make a profit. I pay my children allowances and give them 1099s. Can I incorporate and treat my household operations as a business?
Answers:
Best Answer - Chosen by Voters
1.) No.
2.) Wrong category.
Set up a limited liability company. Register cars under this as well, especially when kids start to drive.
If that worked, we all would have done this a long time ago. Basic living expenses are normal expenses for all, no one can deduct food etc. Audit ring a bell?