Your business cannot POSSIBLY be incorporated and then be part of your taxes. Perhaps, you meant to say you formed an LLC and as a sole owner, it is a disregarded entity. That is the only way one can list a state established business entity on a Schedule C.
Which is a valid way for Nikola to handle his situation.
But, both of you have to understand that your net profits are subject to both income tax and employment tax. Depending on you tax bracket, the employment taxes can be a multiple of your income taxes due.
Moreover, you need to have business records. if you are small enough, Excel may suffice. Quicken Home and Business is better. Xero may be best.
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