Love you guys I’ve learned a lot. I have a single member llc for my cleaning business but plan on going into s corp.
my question is part of my income is for co hosting a air bnb, I get a percentage of the revenue plus I get paid for cleaning. Should I have the co hosting set up as it’s own business? Would it make a difference in what I pay on taxes, right now all the income goes through my cleaning business but I’m responsible for buying all the consumables + more which prob isn’t ordinary expense for a cleaning business . I’m paying out the rear on taxes. I just need to know so I can move forward doing what I need to to get it all under control. Thank you