If the AdSense account and the site owners are different

Is it a correct situation for the AdSense administration?

[freedom2005]

Hello, All.

The question:
When the owner of the AdSense account and the owner of the site are different, - is it OK for the AdSense administration or not?

The situation:
A person had registered a domain and have been developing the website on it. Then he/she had placed the AdSense code on the site.
After some period of time this person creates a company and registers an AdSense account for that company.
Now he/she wants to get profit from this site as a company and not as a private person.
He/she replaces the AdSense code but the WHOIS data remain the same.

[reprint]

Am curious why you would keep the whois the same? From a financial point of view, you would want to deduct expenses associated with the website so why not transfer ownership to the company?
The idea of claiming expenses as an individual and income through the company might leave you in a strange situation come tax time. Maybe i am not understanding the situation correctly

[jomaxx]

It doesn't matter at all. I'm in the same situation right now. You may need to close the old account and open a new one in the new name, but in my specific case that wasn't necessary.

As for taxes, I'm sure you'll have no trouble deducting obvious business expenses. Your accountant will have to tell you exactly how to do it. You should be able to pay the domain costs via the company account if you wish to anyways, even if it's registered in your personal name.