Since your husband is a truck driver, I assume he has his own truck and contracts his trucking service with various customers. If he set up a single member LLC, he can file a Schedule C with the 1040 married filing joint tax return for you and him. The schedule C allows your husband to deduct his trucking expenses from his trucking income to establish his self employed income. His self employed income is combined with other income such as a W-2 for you and the self employment income is subject to income tax and self employment tax (this self employment tax is a gotcha) when it is tax filing time. If you want to avoid a possible tax penalty at the end of the tax year, it is prudent to submit estimated taxes for the total income on your tax return. One way to define your estimated tax is to use the tax paid for the prior year and be sure you pay that amount of tax for the current year. If you have not generated a Schedule C for a prior return, I suggest you get some tax guidance from a reliable tax preparation firm (an enrolled agent with HR Block will work) to help you with defining estimated taxes in the future.
