If the business is owned by more than one person, then as far as the IRS is concerned, it's a partnership. Doesn't matter that the two partners are married. But still, since that's what it is, you have nothing to report until the tax year you are actually "open for business".
You two "NEED" to get with a tax attorney NOW. Laws differ state to state, and the laws of a specific state DO impact how you report things on the federal side. I'm begging you, for your own piece of mind and to keep you from ending up filing bankruptcy and on skid row before the business even gets off the ground, SEEK PROFESSIONAL ASSISTANCE! At least in the beginning.
Generally for folks doing as you two are, you start out with a CPA or Tax Attorney for "at least" the first year. Then after that, and if you're comfortable with it, you can discontinue the CPA and do things on your own. But if you get even one tiny mistake in that first year, that mistake tends to grow exponentially year to year. Then when you do catch it down the road, correcting it is not just time consuming, it's costly to the point that it can easily bankrupt you, and make the cost of professional help seem like a pittance in hindsight.
If have personally seen this happen on more than one occasion in my town. Basically, one can heed the advice of someone trying to help, now. Or they can risk a contempt charge if they don't follow the orders of a bankruptcy judge later.
Right now, since you've not set up even an LLC, every single thing you two own is at risk. You've already got over $50K into this. Do you "really" want to risk losing even more, to include anything and everything you own? I would certainly hope not.
