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Multiple small revenue streams - consolidate expenses across all? (Sole prop)

Posted 14 November 2016

Brian said:
13 November 2016 at 17:04

I have multiple small revenue streams, some with expenses attached to them. Do I ringfence each income/expense area, or do I consolidate them which would enable 'cross-subsidisation' of expenses?

TaxTim Alicia TaxTim Alicia said:
14 November 2016 at 9:59

Each type of extra business income earned will need to be completed separately and then either ringfenced or not depending on whether you do see profits to be made int he future.

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