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Husband and wife - can they run a business together as a sole proprietor

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steven
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« on: November 17, 2008, 10:29:29 am »

My and my wife are thinking about starting a small business. Can we run our business together as a sole proprietor? Or would we need to establish a company or a partnership or something?
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« on: November 17, 2008, 10:29:29 am »

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sunset
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« Reply #1 on: November 25, 2008, 01:48:26 pm »

My and my wife are thinking about starting a small business. Can we run our business together as a sole proprietor? Or would we need to establish a company or a partnership or something?

Yes, you can run your business as a sole proprietor and then file joint tax return.

Note, both spouses are equally responsible for the veracity and obligations of a joint tax return.
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