As I've mentioned before, I am in the midst of launching a business consisting of janitorial services. The market for cleaning companies in Columbus, OH, surprisingly, is in high demand. As I'm sure it is everywhere at this point.
I started the business about a month ago, and have made a couple hundred bucks, along with some side jobs laying tile and what not.
My question is...
I will be registered and have my service vendors license/name registration in about a month, how am i going to go about filing my taxes? I've been told that if I make under $5,000 with my business in a 12 month period, I don't need to file them. I am very certain that by January I will not have made $5k, so would I be good to not file taxes this year if I only made a thousand bucks or so?
Also, I will have W2's from an employed job. Can I still write off all of the stuff for my cleaning business even though I'm not filing taxes on the cleaning business yet? Like can I still write them off of my normal income Im being taxed on?
Sorry if that's confusing!
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