Hello! I was laid off in Nov of 2023 and am receiving unemployment ( and withholding taxes ), but am in the process of writing a book / trying to get published. I usually file jointly / married / with children. My husband works full time.
I haven't made any money this year to date from my writing and have two questions:
1. How should file I this year? Is it worth it to file separately from my husband to write off the expenses I've incurred or should I just file jointly like usual?
2. I am also wondering if I should register as an LLC or sole proprietor for tax benefits? I see a lot of people recommending this.
This is all new to me and very confusing as I've only ever worked full-time for an employer! I appreciate the guidance and help. Thank you!
