File fictitious business name in CA?
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I have a full-time job in CA. I have the opportunity to do additional consulting work for other companies. What would be the advantages/disadvantages of filing a fictitious business name and getting payments through it, or being paid directly in my name and getting a 1099? What would be tax implications be? Thanks.
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Answer:
No difference. The tax implications are the same. Even if you operate under fictitious name you may still get a 1099 at the end of the year. But no matter what as a sole proprietor you are legally required to report this income on Form 1040, Schedule C, either as an individual or under the fictitious name.
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