Tax Question.
We started a youth sports league in California. We began playing games in January 2025, but we we began registrations in October 2024. We took payments in 2024 and that was the bulk of our revenue, but it sat in a business account and most of our costs came in 2025. We received a 1099 from the company that serves as our payment processor for 2024 for $21,000 in revenue. We will probably end up with $5,000 left over after the season ends. How do I best navigate taxes? I have not compensated myself yet.