Do I file my personal and business income tax together?
I live in California and my husband and I have a Motorcycle Repair Shop. I also work out of the home full time. Do we need to file our business and personal income tax together or separately?
Public Comments
- Is your husband a sole proprietor? If yes, the business income is part of your 1040.
- Dear N A : Unless you guys are incorporated and need to file some corp. return, simply use Sch C for him and probably Sch C for you, unless you are paid on a W2. Your income and expenses are listed on this form and then transferred back to form 1040. You must also calculate SE (self employment tax) for your business. With this type of operation you should also be sending in quarterly payments (form 1040SE). This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor
