One tax tip for beekeepers: Don't forget that your drives to your various hives can be written off if you keep proper records. See how much your miles are worth. Sign in. Get started. Small Business Tips. Stephen Fishman. Does this affect the personal tax return you and your spouse file? Yes, it does. Owner-spouse, a sole proprietor If one spouse individually owns a business and operates it himself or herself, the business-owner spouse is a sole proprietor.
Filing business tax forms When one spouse owns a business, the couple will have a more complicated tax return. Other business tax forms Depending on the business deductions you claim, you may have to file other business tax forms with your return. Download MileIQ to start tracking your drives Automatic, accurate mileage reports. Get Started. Personal deductions Married couples also get to deduct an amount for certain personal expenses.
There are two ways to do this—you can: Itemize your personal deductions, or Take the standard deduction Itemizing personal deductions You may deduct the actual amount of certain expenses item by item. Impact of home office deduction The fact that one spouse has a business and the other works as an employee does not affect your itemized personal deductions.
Taking the standard deduction Personal itemized deductions are great if you have a lot of them. How have you been tracking your miles? Start tracking drives automatically with MileIQ!
Related Blog Posts. Turn on suggestions. Showing results for. Search instead for. Did you mean:. New Member. If my wife does not work, do I file married and filing jointly or separate? Topics: TurboTax Deluxe Online. This form guides an employer's calculation of the amount of income tax to withhold from your paycheck. Before you complete the form, consult an accountant or IRS literature to understand the ramifications of the choice you make.
Billie Nordmeyer is an IT consultant of 25 years standing. As a senior technical consultant for SAP America and Deloitte Touche DRT Systems, a business analyst, senior staff, and independent consultant, Billie has worked across the retail, oil and gas, pharmaceutical, aeronautics and banking industries.
Share It. Ideally, your annual withholding and your tax liability should be approximately the same. If you have more than one job, or if you and your working spouse will file a joint return, the W-4 form requires you to perform one of two steps: Use the IRS estimator to estimate your withholding or, if you have two or more jobs, complete a W-4 for each job and estimate the withholding for each. Your entries will depend on the number of children in the family and whether you have other dependents.
Accepted Solutions. Employee Tax Expert. Should I file married filing jointly if my spouse didn't work You should file as Married Filing Jointly, as it is the most beneficial filing status for married individuals. Privacy Settings. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
0コメント