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If I have multiple side businesses in the process of starting soon, plus have a holding llc how do I fill out this form? For an example as a Life & Wellness Coach to making and selling homemade candles, soap and oils.
AI accountant’s answer:

When you have multiple businesses, you'll need to fill out a separate Schedule C for each one. This is because the IRS requires you to report the income and expenses for each business separately.

For your Life & Wellness Coaching business, you'll fill out one Schedule C, listing all the income you made and all the business expenses you had. Then, for your homemade candles, soap, and oils business, you'll fill out another Schedule C with its own income and expenses.

As for your holding LLC, it's a bit more complex. If the LLC is simply holding assets and not actively engaged in a trade or business, you might not need to file a Schedule C for it. However, if it's generating income (like rental income or interest), that income might be reported on a different form, like Schedule E for rental income.

Remember, the key is to keep good records for each business, tracking all your income and expenses separately. This will make it easier when it's time to fill out your Schedule Cs.

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