@Junokiwi thank you for the question. So, most side gigs are disregarded entities if they are incorporated, though more than likely your husband is just an unincorporated sole proprietor. Therefore, he would be adding this business income and expenses to a Schedule C with the upcoming tax return for 2023.
More than likely married filing jointly will still be your filing status even with the addition of a Schedule C for your husband’s side gig.
You did not say how much your other income is, nor whether the $200 a week was gross or net income. Estimated taxes may want to be considered, but a lot depends on the other income and the tax withholding and the gross or net income of the side gig.
In the abstract let’s do a quick example of income from the side gig. For every $1,000 of net income, you would need to pay Self-Employment taxes of 15.3%, plus federal taxes, which range from 10% to 37%, and state taxes potentially as well. Taking the lowest percentages, the tax would be 26.3%. The tax bills could be significant, so you want to get out ahead of this and estimate what your net income is and make estimated payments. There is nothing worse than an unexpected bill.
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