Testimonials

FAQ

Cash Flow College Credit Home and Mortgage Investment Insurance Paycheck and Benefits Qualified Plans Retirement Saving Taxation Calculators

Tax Law Changes Automotive Casualty Losses Charity Credit Issues Dealing With the IRS Death of a Taxpayer Divorce Dollars & Sense Education Eldercare General Tax Investments Medical Care Your Home & Taxes Relocation Rental Property Retirement Planning Work-Related Expenses Your Business Health Care Provisions Personal Finance

Tax Organizer

2010 Year-End Strategies Charitable Contributions Calculators Tax Calendar Tax Organizer Tax Topic Brochures Tax Planning Strategies New Tax Laws Other Links Tax Penalties Occupation Brochures Tax Terms Tax Credits Tax Updates IRS Tax Problems Tax Central

QuickBooks Tips Cash Flow Operations Technology Taxes Marketing Business Coaching

Lockbox

Husband and Wife Joint Ventures

A married couple that owns a joint business venture in which they both participate can elect to file two self-employed business schedules (Schedule C or Schedule F) on their personal income tax return, dividing the income and expenses instead of filing a partnership return. However, the IRS has made it clear that this special provision does not apply to state law entities, such as general or limited partnerships or limited liability companies. If you are interested in pursuing this option for 2008 and currently have employees, are also required to file other types of tax returns, or simply have questions about this option, please give this office a call.

Print-Friendly

Send to Friend

Ask a Question

---