Question

I started a business that incorporates photography, makeup artistry and film production, can I keep this all together?

Forum|Forum|5 years ago
March 18, 2021
1 reply
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In addition, I didn't make any money in 2020 (I opened in late September) how do I fill out the income section since there wasn't any?

TurboTax Self Employed Online

DaveF1006

If you keep it all under the same business name, then you may report it as one business. You are not required to report any income, especially in your first year of business. Many businesses in their first year will experience a net loss but will expect to earn income in the future as a going concern. Please read over this very helpful Turbo Tax link written by Super Champ Carl. He has a lot of useful information in his article that you might find helpful.

Best of luck in your future success for this business !! I wish you well.

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