Hello @Lori25880
Thank you for joining us today and congratulations on your new adventure.
I would need more information to answer appropriately. Is it a sole proprietor, S Corp, C Corp, Partnership? Depending the on the type of entity your business is.
If it is a sole proprietorship, you will report your gross income, cost of goods sold (if applicable) and then business expenses on your Schedule C On your personal tax return Form 1040. If you have a profit, you will have to pay self employment tax. Here is an article that will provide you with more information: Tax Guide for Sole Proprietors
I will be happy to provide further information or articles if it is a different entity. I look forward to your response!
Holly W
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