If you are filing a Joint Tax Return (Married Filing Joint), you are jointly responsible for the Tax Liability even if this liability is from his Self-Employed Business.
You have two options in order to not be responsible for his Self-Employement Taxes Liabiity; you can elect Married Filing Separate, or he can structure his business so that he does not have to file a Schedule C, usually done so by incorporating his business.
If you choose Married Filing Separate, these are the credits that will no longer be applicable on your Tax return:
- The Earned Income Credit
- Traditional IRA deductions
- Roth IRA Contributions
- Tax-free exclusion of U.S. bond
interest
- Tax-free exclusion of Social Security
benefits
- The credit for the elderly and disabled
- The deduction for college tuition
expenses
- The student loan interest deduction
- The American Opportunity Credit and
Lifetime Learning Credit for higher education expenses
- The deduction of net capital losses
- The Adoption Credit
- The child and dependent care tax credit
