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Dave CPA
Dave CPA, Accountant
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Hi, I own a small business, which runs out of my home. I

Resolved Question:

Hi,
I own a small business, which runs out of my home. I have 4 W-2 employees of which only one works from the office. The rest work out of their homes. I also hire seasonal 1099's. Can I file my business and family taxes together?
Thanks
Submitted: 9 months ago.
Category: Finance
Expert:  Dave CPA replied 9 months ago.
Hello,

Welcome to Just Answer,

The answer is yes. If you have a sole proprietorship you would file a schedule C, which is part of your regular individual 1040 form.

Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and you are involved in the activity with continuity and regularity. For example, a sporadic activity or a hobby does not qualify as a business. To report income from a nonbusiness activity, see the instructions for Form 1040, line 21, or Form 1040NR, line 21.

Please let me know if you have any questions before you rate my answer. A positive rating is what I strive for. Regards Dave
Customer: replied 9 months ago.

Thanks so much for confirming my belief.


The reason I asked this was that I had filed an extension for my 2012 taxes. But when I went on turbo tax to file taxes as every year. It did not show me any way to show W-2 employees and showed only 1099's. Until 2012 I had only 1099s.


Regards

Expert:  Dave CPA replied 9 months ago.
Glad I could help. Please provide a positive rating if you have no other questions. Your feedback ensures I get credit for helping you. Regards Dave
Customer: replied 9 months ago.

Hi Dave,


I had a question actually: When I look at my turbo tax form under expenses there is a space for contract employees. But there is no place for W-2's. Where do I add what we paid them and what I withheld.


 


Thanks

Expert:  Dave CPA replied 9 months ago.
Hello,

Salaries would go on line 26 under "wages". The turbo tax program should lead you there. Below is a copy of the schedule for your reference. Let me know if you need anything else. Regards Dave

http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
Dave CPA, Accountant
Category: Finance
Satisfied Customers: 840
Experience: I'm a CPA with over 10 years of experience
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