So I have a friend who has a restaurant in Seattle and is the owner and hires a accountant to do that. Then he runs a ebay and own domain separately and purchased turbo tax but wanted to know if he should consolidate all together to one accountant and file.. Or is he allowed to keep it separate and do turbot tax for his ebay/own domain and let the restaurant / cpa do the other section.
He doesn't want the restaurant to have any issues since the cpa working with him has been doing it for years..
I'm guessing two separate filings Is bad idea and / or not allowed?
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Each business expense and income should go on a separate Schedule C for clarity's sale.
We're not accountants.
He can have the accountant handle the restaurant, and provide the Schedule C for the EB account to the accountant who will tabulate it in.
But if he has an accountant and likes the guys work, why the heck doesn't he ask him? Asking some third party to ask a bunch of 4th parties on line who nobody knows doesn't make sense when you have an expert you're already paying.
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Each business expense and income should go on a separate Schedule C for clarity's sale.
We're not accountants.
He can have the accountant handle the restaurant, and provide the Schedule C for the EB account to the accountant who will tabulate it in.
But if he has an accountant and likes the guys work, why the heck doesn't he ask him? Asking some third party to ask a bunch of 4th parties on line who nobody knows doesn't make sense when you have an expert you're already paying.
Well the thing is the accountant he has had it for more then 15 years. And for most part it turned out ok. Problem is the accountant isn't very good in customer service but gets his numbers right and asking him other add on questions he gives vague answers. He wants to leave but seems like the years thats suited him ok without too much problems he doesn't want to ... Anyways, thanks Guess i'll tell hime 1 1040 form and separate schedule c
I often find that vague answers are caused by unclear questions. Unclear questions are often the result of the questioner trying to avoid giving complete and accurate info.
He should give the accountant all the information, and let the accountant do his job, not micromanage the guy.
If he thinks it's not being done right, he should consider consulting other experts, not us, because we're businessmen not accountants ( most of us, anyway ).
The way the guy files depends on how he's set up his businesses. If he's the only member of both, the profits from both are supposed to be passed to his personal tax return via a Schedule C on his 1040.
2 separate businesses tax question for friend 
