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Sole proprietorship vs. partnership?
I'm starting a home based dog grooming business. I'm unsure of whether to just keep it as a sole proprietorship or have my husband listed as a partner? He wouldn't actually be doing anything except maintenance work on equipment but are there any type of tax breaks for him in this? The business is based out of the house we both own (well he owns, but since we are married, you know.)
4 Answers
- Wayne ZLv 76 years ago
Unless one of you is near the social security income limit ($118,500 for 2015), the taxes would be the same either way.
- 6 years ago
just hire him? If you don't wanna split it 50 50 because he isn't going to do much just give him 10% or make him and employee...
