2 incomes, 1 corp

[Possi]

I recently incorporated, S Corp.
My main income is Tax Prep. The rest of the year I am a private duty nurse aide for the elderly. (I was thinking of naming my business "Two Sure Things" but thought better of it... )
Anyway,

I believe I can run both businesses as one, depositing ALL income into one company, and doing all business from the same office, etc.

Would like your expert opinions word on this.

[Gretel]

Yes, you can operate both businesses under one FEIN.

I would separate the bookkeeping for both. If you want to sell your tax prep business one day you will need to show the financials for this part of your business.

By the way, before I opened my business I worked as a CNA for a short while and was then debating to open a small assisted living place.

[Possi]

you, too?

I only do private duty, so I am able to assist the family with the transitions as well as assist the elderly person's changing health. I stay with one client to the end. It both feeds my spirit and breaks my heart, but that's what I do.
This client goes out of town for my tax seasons. I've been with her for 3 years now.
Nice to know we have something in common...
~donna

[Bees Knees]

My main income is Tax Prep. The rest of the year I am a private duty nurse aide for the elderly.

Interesting combination.

For those who cannot support themselves with bookkeeping or financial services during the off season, it is interesting to know what other types of activities tax preparers do during the off season.


I owned a carpet cleaning business for years during the off season and also played in a band. Carpet cleaning, tax preparation, and musician.

My good friend Armando worked at a tax preparation firm that was an A&W drive in restaurant during the off season.