Do I need to file my taxes quarterly for my private business even though I file jointly with my husband?

by Joseph G. Tropiano II, CPA | Sep 20, 2018

I have a small private lactation consultation business (less than 20 clients per month). I do not have a home office; I do home visits in clients’ homes. My husband and I file taxes jointly (he is a full-time mechanical engineer). I have a separate Wells Fargo Small Business Checking Account. Do I need to file quarterly?

You need to consider making quarterly tax payments at the federal, state, and local levels (if applicable). If the lactation business is operated as a disregarded entity (sole proprietorship or single member LLC), the net income from the business will flow directly to you and your husband’s Form 1040. This net income will be subject to both income and self-employment tax, and needs to be paid as it is earned.

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Answered by: Joseph G. Tropiano II, CPA, is with Siana, Carr, O’Connor & Lynam LLP in Paoli, 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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