tranfering xbox live from one account to the other

This is impossible

But you can try the home xbox feature

No. Nothing can be transferred between accounts. However, if you're using a One, if you set the console as your Home, you can share the gold with the new account. https://beta.support.xbox.com/help/hardware-network/console/my-home-xbox

So if I make my account my home Xbox on my Xbox One all the games and live will also go on my new account?

I'm not sure why you would need to put them on a hard drive. If you're getting a new console and making the new account on another console, you could use a hard drive to move them easier, but it's not required in order to share gold and games.

You can access them from the new account, so you'll be able to play online and play the games you've purchased. The purchases will still be tied to your original account.