![](/profile/get-photo.asp?memberid=64543&type=profile&rnd=718) scmn | Check that again. Everything I read says with multiple sole proprietorships with one owner the limit is the lesser of (sum of Schedule C line 31s + sum of Schedule F line 9s) or 100,000. Thus if you had 3 schedule C businesses with 5,000; 10,000; and 1,000 net profits and schedule Fs with 50,000 and 39,000 you would have to use the 100,000 annual adjusted since 100,000 < 105,000 (5,000 + 10,000 +1,000 +50,000 + 39,000) and would be eligible for 20,833 loan. They are making you submit a list of all EINs that you own.
For those thinking they will slide it thru, if you file both Schedule C(s) and Schedule F(s) your SSN is on the form and will link the businesses together. The only way to separate them is to form a C Corps so that they are taxed separately from the individual. The downside will then be that there is no Schedule F and only payroll would be elligible. |