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I'm employed but spouse is self-employed/sole-proprietor. Can I pay both our taxes?
Our respective incomes are drastically different, and spouse's income from self-employment is less than 50k/year. We will file jointly, but I'm wondering if I can make an extra withholding in my taxes for their income tax, so they don't have to pay income taxes directly? I realize they still need to pay (2x) SSN and Medicare, but will this work? Is this a better strategy than them making quarterly income tax estimate payments?
Also, any other advice for filling taxes out jointly and successfully given our situation? Also, which TurboTax product would work for filing taxes for us? It's all new for us... thanks in advance for your help!
‎January 25, 2022
12:02 PM