Job + Business
W-2 employees who also run a business
Your W-2 withholding and your business income land on the same return. A profitable side business can create a surprise balance due — adjust your W-4 or pay estimates on the business income.
A genuine business loss can offset other income; a hobby cannot. Keep business and personal money in separate accounts from day one.
Social Security wage base: wages from your job count first; self-employment tax applies to business profit only up to the remaining wage base.
Education only — not personal tax advice. Personal questions route to a credentialed pro (see Pros & Trust).