You certainly can partition your SSD.
save 10-20% of your ssd aside (overprovisioning) and then create two partitions in the remainder; install away since you already seem to know what to do from there.
For the SSD, Samsung Evo's are hard to beat for the performance they offer at the price.
Thanks for your reply, I did get the Samsung Evo. I partitioned it in two 233GB partitions and am now dual booting Windows 8.1 and 7 very nicely. A question. does the space for overprovisioning have to be unallocated unpartitioned space or can it be formatted unused space?