Hey guys, lets say I own an LLC and make good money each month selling t-shirts online as my main revenue stream. Can I begin a 2nd, unrelated, revenue stream such as filmming documentaries under the same business? And write-off all my expenses for filmming documentaries such as equipment purchases, travel expenses, and paying contractors? (the documentary side of the business will be real and genuine, not some scam for write-offs, but I know it will not make any money)
Is this a legit way to create a business around my passion but use the profits from my other business before they're taxed? Or am I missing something? Thanks!