If my wife and I each have our own LLC, can we still file our taxes jointly?

by James F. DiFilippo, CPA | Sep 07, 2018

I have an LLC for my mobile notary business. My wife wants to start a grooming business. If she starts an LLC of her own, could we still file our taxes jointly? Would it become too complicated, and better off filing separately? Is having two different LLCs equivalent to the process of just having two different W2s, or is it completely different?

Yes, you can each have an LLC. Each would be taxed as a disregarded entity, and reported on a Schedule C. You would have a separate Schedule C for each entity, and could file married joint or married separate, whichever you choose.

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Answered by: James F. DiFilippo, CPA, is the owner of DiFilippo & Company CPAs in Toughkenamon, Pa.

The responses are based on the limited information provided by the questioner and apply the laws and regulations at the time of posting. Other options could arise as rules and regulations may change over time, including but not limited to the passage of the Tax Cuts and Jobs Act of 2017. They are intended to provide general information, not specific accounting or tax advice; they are not intended or written to be used and cannot be used for the purpose of avoiding or evading taxes or penalties under the IRS code or regulations. Views expressed do not imply an opinion of the PICPA, its officers, directors, employees, or members.
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