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I have a small business, can I combine my taxes with my personal filing?

 
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rjs
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I have a small business, can I combine my taxes with my personal filing?

If your business is a sole proprietorship, single-member LLC, or qualified joint venture you report it on Schedule C included in your personal tax return.


If your business is a multi-member LLC, partnership, S corp, or C corp the business has to file its own tax return, separate from your personal tax return. Your share of the income from the business then has to be reported on your personal tax return. Exactly how that is done depends on the type of business organization.

 

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3 Replies

I have a small business, can I combine my taxes with my personal filing?

Yes. Report your business on Schedule C 

I have a small business, can I combine my taxes with my personal filing?

SELF EMPLOYMENT INCOME/“side jobs”

 

 

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.

 

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_U...

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

 

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

 

If you live in a state with a state income tax, you might need to make estimated payments to your state.

 

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
rjs
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I have a small business, can I combine my taxes with my personal filing?

If your business is a sole proprietorship, single-member LLC, or qualified joint venture you report it on Schedule C included in your personal tax return.


If your business is a multi-member LLC, partnership, S corp, or C corp the business has to file its own tax return, separate from your personal tax return. Your share of the income from the business then has to be reported on your personal tax return. Exactly how that is done depends on the type of business organization.

 

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