Do you have where all the below questions are answered?

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:

https://turbotax.intuit.com/tax-tips/self-employment-taxes/reporting-self-employment-business-income-and-deductions/L3Unchx1x## 

 

Here is a great link about employing your children to work for you:

https://blog.turbotax.intuit.com/business/the-benefits-of-employing-your-children-and-the-tax-breaks-involved-65022/

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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