Hi,
I'm a personal chef and an artist/designer. I make a decent living as a personal chef and it has very little overhead and very few deductions. The art/design has more overhead and also the possibility of many deductions - studio space in my home, buying tools, traveling for shows, etc. I'm making some money as an artist and am confident I'll be selling more in the future (trust me, I know the odds). But for now, the cooking is bringing in the money and the artist/design is in the red, breaking even at best. I want to get a seller's permit for the art, sell to larger stores, start declaring that income, etc. Is there any reason that I can't have these two businesses as one? Primarily for the initial purpose of deductions from the art/design basically being deducted from the personal chef income. Any thoughts or questions? Thank you!!
I'm a personal chef and an artist/designer. I make a decent living as a personal chef and it has very little overhead and very few deductions. The art/design has more overhead and also the possibility of many deductions - studio space in my home, buying tools, traveling for shows, etc. I'm making some money as an artist and am confident I'll be selling more in the future (trust me, I know the odds). But for now, the cooking is bringing in the money and the artist/design is in the red, breaking even at best. I want to get a seller's permit for the art, sell to larger stores, start declaring that income, etc. Is there any reason that I can't have these two businesses as one? Primarily for the initial purpose of deductions from the art/design basically being deducted from the personal chef income. Any thoughts or questions? Thank you!!