3 ms·
I think you're missing the point. The bank doesn't want you to prove ownership of a particular asset; they want you to prove that you are "carrying on a busines
by toomanybeersies 5y ago
I think you're missing the point. The bank doesn't want you to prove ownership of a particular asset; they want you to prove that you are "carrying on a business".
Owning a website (or a printer, or a truck, or lots of money) doesn't mean you have a business. It's about the nature and purpose of your activities with those assets (or skills).
I can add an identity token to my personal website, but that doesn't make it a business any more than putting a saddle on a zebra makes it a horse.
This ruling from the Australian Tax Office lays out pretty clearly the defining characteristics of a business [1]. It's probably a bit different in the USA, but I'm sure it's not too dissimilar.
[1] https://www.ato.gov.au/law/view/document?docid=TXR/TR20191/NAT/ATO/00001&PiT=20190904000001 https://www.ato.gov.au/law/view/document?docid=TXR/TR20191/N...