The tax implications of starting a business with your spouse

04/21/2013 | Intuit Small Business Blog

If you've started a business with your spouse, you must determine whether you are partners or whether one of you is an employee, Tim Parker writes. "If one spouse makes all of the management decisions and the other works as a regular employee, the latter is, under IRS rules, an employee who's subject to income-tax and FICA withholdings (but not unemployment tax)," he writes. In some cases, it might make sense to choose the "qualified joint venture" election, which allows both spouses to act as sole proprietors of the company instead of as partners.

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