I am a freelance graphic designer, and own an Etsy shop.
I have a couple questions.
1. Are these two kinds of businesses okay to group under one LLC? Neither are super profitable yet, but I do have an LLC.
2. What happens with taxes if my business expenses are far more than my business profit?
3. Let's just say, if my business made less than $500 or even $1000 for the whole year, how do taxes work? Especially if you have business expenses.
