Just to add to @VolvoGirl's information on estimated taxes: once your businesses are making a profit, don't forget to make estimated tax payments to your state (if your state has an income tax), as well as to the feds.
Also, be sure to get a federal EIN for each business if either of you plan to:
Also, some banks require you to have an EIN before they'll set up a bank account for your business.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
