Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Need some help/advice. I'm retird. My wife and I each have a small Self-Employed business, and currently each file a Form C with our joint Form 1040. My Business is going down this year (only about $500. in revenue), and next year most likely to no income. I used the 179 account (4 years ago, in 1996) to deduct my new super computer system of about $6,000. (now totally outdated, but it works)! I would like to merge these two into a single Form C (in 2000) i.e., her business; where I will do all of her computer work as an unpaid "employee." How do do that, such that it meets both the spirit and the letter of the IRS ruling on the old 179 account and me as an "unpaid employee?"
Thanks for your help. Dick
PS I also posted this on the Self_Employed Board.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.