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April 13, 2021
Question

I found my personal taxes with my husband but next year I need to file my business taxes separate how do I go about doing that

  • April 13, 2021
  • 1 reply
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I just started my business and my husband is not on my license.

1 reply

April 13, 2021

you gave little info, but just becuase he's not on your business license doesn't prevent you from filing a joint return for 2021 provided you are married on 12/31/2021

you can report your s-e income on the same return he reports his w-2 or his own s-e income.  what may be needed is to pay estimated taxes to avoid penalties.

 

to avoid penalties for 2021 your taxes withheld and timely paid estimated tax payments must be 100% of your  2020 tax (110% if the AGI on your joint 2020 return was more than $150,000)  or 90% of 2021 tax.

 

the rules to avoid penalties becomes more complicated if your marital status changes or you both use the married filing separate option.

 

as a general rule, a joint return will produce the lowest total taxes.