My wife is self employed as a photographer for a few years now (sole proprietorship). Last year, she decided to buy and resell dresses. Can she use the same schedule C to for income and expenses from her dress sales or is this considered a new and separate business? will she need another schedule c, another business license, another CRS for gross state receipts?
No, she would need to create an additional Schedule C for her new business. To do so, all you will need to do is "add another business" when you get back to the summary screen after entering her first business.
Yes, she will need to keep separate accounting for the dress business from the photography business as well as separate mileage logs.
As for licenses, that is a state question as to whether or not she needs a license, not a tax issue, so you would need to contact your state to see if there are any licensing requirements for selling items.
She will still use her SSN for the second business on her Schedule C.
She would likely need an additional account with the state to report sales tax. This however, would depend on the state and if they tax clothing.
No, she would need to create an additional Schedule C for her new business. To do so, all you will need to do is "add another business" when you get back to the summary screen after entering her first business.
Yes, she will need to keep separate accounting for the dress business from the photography business as well as separate mileage logs.
As for licenses, that is a state question as to whether or not she needs a license, not a tax issue, so you would need to contact your state to see if there are any licensing requirements for selling items.
She will still use her SSN for the second business on her Schedule C.
She would likely need an additional account with the state to report sales tax. This however, would depend on the state and if they tax clothing.