So, my daughter and I started a partnership in May of 215. I had a few people tell me it would streamline our finances and make things much easier. So, being me, I just said OK! and started a business checking account. Everything was okay until January hit and I realized I know absolutely zero about how to do partnership taxes. I didn’t even check into how to properly do this when we started. This is how I function. I just merrily jump into something before researching. I am 58 and I still haven’t learned that lesson. Sad, very sad.
I know it will be fine once I get things going properly, but right now I am so stressed! My advice to you is to not take advice from me on business because I fly by the seat of my pants most of the time!
I hope you all have a happy tax season. **grumble**