YOu can do it
Posted By: Patti on 2008-02-02
In Reply to: New IC, estimated tax? - Old and out of it
You can do it. Just have your husband hold out enough to cover what you make and you do not have to do estimated taxes. After doing the Schedule C and figuring out what your SS is, you will combine your net business income with his on the 1040 and base your federal income tax plus the SS. Look at your past years taxes and see what you made as an employee what was held out and go from there. If you do Turbo Tax or anyother tax program you can do an estimate for next year on the program for any changes that are made.
Patti
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