Question by I LOVE BOXERS: can I file my small business taxes with my personal taxes?
I own a small in home daycare and I was wondering if I should file my small business taxes with me and my husbands personal taxes?
Best answer:
Answer by Tina
If you incorporated, no. It would be a separate entity.
If it is sole proprietorship, the best that I can suggest is to ask the IRS or a tax lawyer.
Hope this helps.
Know better? Leave your own answer in the comments!
If you did not incorporate you will file a Schedule C when you file your personal taxes.
If you didn’t incorporate than yes it has to be filed with your personal return. A home daycare has some special rules so you should consider seeing a tax preparer since you probably don’t have enough tax knowledge to get through it the first time on your own. You will have to include with your return Schedule C Profit or Loss from Business, Schedule SE Self Employment Tax, Form 8829 Business Use of your Home and the numbers carry to the other forms – the 8829 carries to the C, the C carries to the 1040, the SE carries to the 1040 -if you have no idea what I’m saying then it’s time to make an appt. with a tax preparer.