#140: How do I separate my business expenses if I work at multiple businesses?

Josh and Emily talk about business accounting/bookkeeping/taxes when you have multiple income streams that overlap to some degree.

Top things to think about

1. You should have an EIN for your business; if you have a 1099 contractor job and used your EIN, then that’s simple.
2. If you have a W2 job plus self-employed income, then some expenses are deductible and some are not.
3. If you have a CPA and provided them with all the information, you’re more likely to be able to get out of trouble with the IRS because you can prove that you had good reason for doing things the way you did (aka your CPA told you to).
4. If you have multiple, related companies that are separate entities, you should not share resources between them (have separate Zoom accounts, separate bank accounts etc.).

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