I wish this was a webinar..
Should I separate personal and business expenses?
Can I expense vacation costs if I've conducted business?
What is included in the cost of goods sold?
How do I maximize the deductions for my side gig?
Are there any tax benefits if I employ my family members?
Can I deduct business use of my phone and car?
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This is not a webinar, though.
You should post separate and specific questions.
Welcome to the Event, Msebony96!
We are not a webinar - but we are real Tax Experts here for you!
First off, yes, you should separate personal and business expenses. This helps keep a neat record to create your Profit and Loss statement.
Here is a useful link for you that covers Self-Employment Business Income and Deductions including travel, cost of goods sold, vehicle deductions and others:
Here is a great link about employing your children to work for you:
Here is the IRS guidelines for hiring family members:
https://www.irs.gov/newsroom/tax-treatment-for-family-members-working-in-the-family-business
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