Work at Home Forum - An online community of those who work from home.
Accounting and Legal Advice Work at Home Forum / Accounting and Legal Advice /

Transitioning to self-employment - how to transition tax dates?

Author Message
asherblack
Forums Member
Joined: 21 Dec 2009
Posts: 1
#1 · Posted: 21 Dec 2009 19:18


My wife and I each have been employed until December 2009. In Dec 2009 she started her own business and is no longer employed. In the same month, I went from running my own business part time to running it full time.

1. Do we file two Schedule C/C-EZs with our one joint-married 1040 return?

2. When do we start paying quarterly taxes? I think neither of us has to make estimated tax payments this coming Jan 2010, April 2010, June 2010, Sept 2010 -- won't need to until Jan. 2011 - because:

* Both of us were employed thru all but 1 month of 2009, and employers withheld taxes.
* Taxes are paid in current year for the previous year. I will have paid my taxes for all of 2009 on April 15 anyway. Do I need to file for both of us in January (next month)?

Is this correct? If not, when and how should we be filing?

BobFirestone
Forums Member
Joined: 1 Jul 2009
Posts: 144
#2 · Posted: 23 Dec 2009 01:11


Talk to an accountant. Getting this wrong can become a lot more expensive than an hour with an expert.

__________________
Bob Firestone

Get $91.97 of USAloe products shipped direct to you for FREE! Just pay shipping & handling. http://nhba.usaloe.com/offer

Read My Blog
Your Reply
   :) ;) :-( ... Disable smilies

» Username  » Password 
Only registered users are allowed to post here. Please enter your login/password details upon posting a message, or sign up first.
Messages not conforming to the forum rules will not be approved or, deleted without any explanation.
Please do not post email addresses. If essential, obfuscate them (user [at] domain.com or something like that).
Please do not apply BOLD to entire post.
Please do not post Titles in all CAPS.
 


Page loading time (secs): 0.036

Custom Search
Member Ranking · Terms of Use · Privacy Policy · About Us · Contact Us · Support Us · Friends

© 2004-2011 Work at Home Forum. All rights reserved.