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Wendy Reed
Wendy Reed, Enrolled Agent
Category: Tax
Satisfied Customers: 3346
Experience:  15+ years tax preparation and tax advice.
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Hello, I recently opened up my own small business where I

Resolved Question:

Hello,
I recently opened up my own small business where I am a Single Member LLC- I have no employees, and I work out of my house. I am getting ready to submit my first estimated taxes payment due on June 15, 2010. In the past, my husband and I have had regular full-time jobs and we filed "Married Filing Jointly." If possible, I would like to continue filing this way next year. Part of this year I was employee at a regular job, and part of the year I'll have a Single Member LLC, and my husband has a full-time job.

**What name should I put on my estimated payment form?** Do I put the name & SS# XXXXX myself and my husband so we can file Married Filing Jointly (even though his name isn't on my SMLLC), or do I have to put the name of my Business & EIN #?
Submitted: 6 years ago.
Category: Tax
Expert:  Wendy Reed replied 6 years ago.

Thank you for giving me the opportunity to assist you. I will give the best answer that I can with the information provided.

 

Hello there,

If you plan to file jointly for 2010, the estimated payments will be applied to your joint tax liability, even if your husband does not share in your home business. The nature of a joint return is the tax liability is also joint, even if only one spouse has income. Therefore, you should follow the instructions on the 1040V-- SS# XXXXX first on the return in box one, and the second SS# XXXXX box two. Fill out your names in box 4 the same as they are usually shown on your joint return.

 

Don't use your business name and EIN#, since as you are an LLC, you will be filing a Schedule C as a sole proprietor, and your business related income is added to your joint income---which is reported under SSNs. You would only use your business EIN if you were filing est. payments for a corporate return.

 

Please let me know if I can assist you further.

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